Oh my giddy giddy gosh, you are *crushing* this whole UA-cam thing ! One of the most uplifting videos I've ever watched on this topic. Keep up the good work lad!
Mate this is why I only watch you in terms of investing and money! You realise that all of us have different circumstances. I had my first job at 25 and I'm 30 now, live with my single mum who can't work and I've got less than £500 saved but most of that is MY fault as I didn't have the financial education which I do now thanks to people like you. So I'm 30 now and I'm starting again, sometimes I feel like I've wasted the last 5 years but we live and learn..
You sound like a hero to me mate. Supporting someone else and their child/children. Honestly in 10 years you will look back and realise how young you still are. No time is wasted, it got you to where you are right now.. A person who understands what they need to do to make their life better. Set yourself a realistic financial goal that allows you to live your life still and have fun and then work towards it. In another 5 years you will be amazed at how far you have gone! You have your best earning years ahead of you. you are going to smash it mate ☺
@@DamienTalksMoney Appreciate you mate, agree with everything you've said! Made me feel better after the past few months. Though I meant looking after my single mum haha.. Keep doing what you're doing mate, you're changing a lot of lives as I teach my sister what I learn from you.
Honestly one of the best youtube videos I've watched. Your compassion, care and genuineness really comes through. We need more people with an attitude like yours on the internet Damien!
I'm 54 and my wife and I are VERY worried about our future, gas and food prices rising daily. We have had our savings dwindle with the cost of living into the stratosphere, and we are finding it impossible to replace them. We can get by, but can't seem to get ahead. My condolences to anyone retiring in this crisis, 30 years nonstop just for a crooked system to take all you worked for.
Yes, she is a delectable advisor who will make you a queens ransom. There will be a joyous pot of pension gold from her blessings. She is Nigeria good woman 👍
I couldn’t agree with this comment more mate!! So many issues could be solved if everyone just felt comfortable enough to talk about money in healthy and open way.
@@DM-ip7bg well, I agree on the possibility of people reacting in severe ways but that should not be the case generally as we all know who the richest people are. Not talking about money can affect your family, your partner or your close ones. You don't want your mistakes to jeopardise their financial future. Hence, I feel that it's important to know where you stand to protect your finances.
@@DM-ip7bg - You’re taking talking about money to mean people saying how much they have - I take it to mean discussions on what money actually is, and learning how to use it as a tool to create wealth. These are two completely different things - the truth is most people simply don’t understand how to use money, and how to make it work for them.
I think having finance/investing as a subject in schools would be a superb thing. Young people can learn how to invest money at an early age, and why it's important. I was always so scared of investing myself, and only started at 36. Better late than never, I guess.
@@wagondragon - I 100% agree, I'm now 59 but knew absolutely nothing about investing until I was 30-31 and my extended family is still totally ambivalent to it even though I've been trying to convince them to start for years. Investing has changed my life, its a essential skill that everyone NEEDS to learn.
I'm over 40 and still quite new to all this. I'm just sad i could not do it earlier. But as you wisely said, I am the one setting my targets. You're wise. Your mom should be proud! :)
Great video! I am almost 60 and left my job which was draining the life out of me two years ago. I did NOT have the Fidelity box numbers or any of the other 'expert' savings amounts. What almost none of these experts discuss is how much you spend. They all say to 'maintain' your current lifestyle but looking at my parents who retired early as well, all their expenses have gone down. We budget to keep the household running and always extra for big family vacations. Budgeting and keeping track of spending will help so many people realize they can leave a job that is draining them and find something they really want to do. Keep up the great content!!
@@DamienTalksMoney I asked her and she (rightly) got all feminist on me and told me to carry a child for 9 months and give birth and then I would find out 🤔
Great video Damo. I am one of those late starters you spoke about, turned 40 this year and only just started paying attention to this sort of stuff. And it is exactly as you said, watching UA-cam and reading these articles in the beginning did make me feel like I'd left it too late and my efforts were now pointless. But then I thought there is no cookie cutter, one size fits all template and started anyway. It's better to start late than not start at all. Just save as much as you can when you can. Keep up the good content buddy.
You have the advantage of a wiser head on your shoulders, most who start in their 20s waste it all by chasing stupid gains instead of consistently investing in low cost well diversified options. I bet you give it ten years of consistency you will be ahead of 70% of people your age.
@@DamienTalksMoney I did that for like a month when I first started. Gamestop being on the list of stupid investments and jumping into crypto without really understanding what it was about. Once I'd calmed down, learned a bit more patience and realised I wasn't going to be able to retire in a year a multi millionaire, I sold the stupid investments when I could turn a bit of profit and invested all that back into more sensible stuff. Don't get me wrong. I have still got some silly stuff. I bought a bunch of Shiba Inu with money I got for my birthday in May, just for a laugh and because I could get millions of them. Turns out that wasn't such a stupid idea though 😂
I started my investing journey as I have worked full time since the age of 16 and have no higher education so it became increasingly important for me to try and build some sort of wealth for the future, so started to take advantage of a very good works pension scheme and opened a S&S isa and also began to save. I am 23 this year and have 10k in my works pension, 2k in my S&S isa and over 7k in savings I am incredibly proud of how things are currently going and am just so glad that I picked up all of this knowledge when I did at a youngish age, now I cant advise my friends and everyone else my age enough on how important it is to do the same.
I was one of those that watched the other videos and felt worried as I was miles off where I was supposed to be. I still have a lot of work to do as the big 40 looms but working on it. We should be teaching money and investing in schools. Thanks for a genuine and honest video.
Bill Gates said - Most people overestimate what they can do in one year and underestimate what they can do in ten years. If you save consistently by the time big 50 is on the horizon you will be in a great place!
I quoted that Fidelity research in one of my videos but I actually think your point here is spot on... you have to run your own race and that's the most important thing. Especially as it can be demotivating for many to use quite literally 'rule of thumb' 🙃 comparisons. Nice one man. Solid message and completely agree 👍
Thank you buddy as always so reassuring for someone of your background and knowledge to give me the nod. Working my way through your book recommendations at the min.
Great video, mate.That acknowledgement that everyone of us is different, living with a unique set of circumstances, is gold and it help make people think for themselves. Orthodoxies are great in a perfect world, but how many of us have that experience? I didn't. I was doing ok for a late bloomer in my 50s, but with the economy in the sh*tter, I cashed-out of my S&S ISA and paid off the house and got my two-year emergency fund set aside. Now I'll be saving 75% of my take-home straight into the S&S ISA again - going balls out. Anyway, keep doing what you do, brother. You are absolutely essential viewing. Love it!
Yes yes somebody on UA-cam talking a lot of sense. Never really thought about bloggers making fake videos saying they have more when they don’t, basically making you feel bad about your achievements and them feeling good about there fake achievement. Great video thanks keep on coming👏🏾👊🏽👍🏾💷
This video has popped up for me loads because I watch quite a lot of finance videos, but I've been avoiding it because I hold the views that you shared. Happy to see that you're not giving out whatever numbers and taking into account the individual.
Thank you! I know this topic is completely overdone and that is why i wanted to put a fresher spin on it because I am sick of people saying you need X by this age. Thank you for giving my channel a chance and for watching the video all the way through!
Bang on about setting your own goals. And although saving is a long term thing, making small, incremental changes to my lifestyle helped me realize noticeable gains on a regular basis over the short term. Saving then became part of my lifestyle - a habit, which for me, is the key. Nice one.
Spot on! If you form a saving habit then you are onto a winner. It is the first thing I do when I earn money now and it feels like having a shower. Weird if I do not do it.
Wonderfully empathetic and spot on. Love humourous clips, and especially the way you don't waste our time with waffle but get straight to the point. Outstanding!
It's a scary subject. I remember sitting in Pret over 3 years ago researching this question at 30 years old. My advice to anyone who cares is just start, no matter how small the amount. Be ambitious and positive. Try and increase your income. Have your own goals and work steadily towards them because you'll look back as I am today and be proud and a bit shocked at how much you can achieve in a fairly short amount of time.
SWISH SWISH! Thank you so much Mark. I think through no fault of their own some of the biggest in the game have forgotten how most live so the content on this topic can seem well out of touch with what is achievable
This is so refreshing after the crap I have watched online about this 🙌🏻 This video is exactly why I have notifications on for your channel, thank you!
Yes. This was needed Damien. Thank goodness you are talking about it. I remember, after the pandemic started, and everyone was suddenly advising to invest in this and that, it left many many older people feel like complete idiots, because they didn't start saving/investing enough early on. (I'm in my early 30's, and even I felt like it for a certain period of time). Many people have many choices/circumstances, like being married early, having kids early etc, which makes them happy. Not saying money isn't important, but some advice saying, you should remain single as much as possible, have kids later on, doesn't make sense to those whose happiness is more dependent on family etc rather than money. Just saying some people place more importance of money, some on family, some on dreams... All are valid.. no one is wrong, no one is right. Be content with whatever is made. Like they say in the gym (which you stated in the end), don't compare your body with other athletes in the gym, compare yourself to your past.. same applies to our personal finance. Cheers Damien. Keep up the good work. Hopefully can meet you when I come to the UK 🙂
Thank you for this, couldn’t agree more! I had my son at 25 many would say this is young. But I’ll still be cool enough to take him for a beer when he turns 18 lol
Fantastic video Damo. Comparison really is the thief of joy, and the thing is there’s ALWAYS going to be someone doing better and worse than you. If anything, take comfort in knowing this. Work on your own goals and do you. Like you say, compete with yourself and how you were performing last year - I believe that is key! And yes, you hear it a lot but it is absolutely true - no one will care more about your finances than YOU. 👏 👌 great job!
Awesome Damo! Screw these numbers! Set up your own goals and do not compare. Comparison is the thief of joy! I am going to put these up on the wall. I was listening, I am listening, And I will be listening to the guy on the internet who is making videos in his loft, who I never meet, yet! But this guy helped me a lot! Thanks for that Damo!
This was really insightful. I've seen loads of same style videos and always thought they made no sense. First video I've seen which actually talks sense! Great video as always 🙂
This was exactly the question in my mind recently. I had a late start in life because I had to be a carer for my sick mother, and I feel like I will never have my head above water. With a tiny pension, no home, and little savings I cannot even fathom being able to afford having a child one day.
Nancy, from one woman to another who has put her mum first, you will get there! And you will NEVER regret the time you spent with her! No regrets! So start saving now- I watch The Frugal queen in France too, as a woman, she gives me practical tips where to save on a daily basis. I haven’t bought anything new since April 2008. I am an eco warrior, I don’t want to leave a massive carbon footprint! So I shop in Charity shops! I don’t squander, I have like minded friends, we are proud to be frugal! So don’t fret, you are on the right path and will get to your goals sooner than you think.
This will probably get buried in the deluge of comments since this is such an old video, but the sentence where you said "the only person you should be comparing yourself to is you last year" is a mantra I resonate with and personally have lived by for the past few years now. Too many times in the past I have fallen into the habit of comparing my career and earnings or net worth with my peers in the same age group and felt I was always behind. Or I would go onto social media and see people spending and living their 'best lives' and feel depressed when I'm living an ordinary and unspectacular one. I now focus on my own financial situation, what I can do to make it better every year and focus on building better habits that allow me to save and invest for the future, while also knowing that living in the present is important as well.
Preach my man. Preach. The hardest thing that people need to do is simply ‘decide’. Decide that they want to be in control of their financial destiny. Decide that they don’t just want to retire when the government says they can on a shitty state pension. Once that decision is made, setting goals and working towards them is easier than people think. Great video as always mate.
Great video ! Felt quite comforting that I’m at least doing “ok”. When everyone around me feels like they’re doing better. Sometimes we need the reminder that most of what we see out there is just made up!
Completely made up mate! The reality of it is if you are not in credit card debt and have a quid in your pocket you are richer than 1/3 of the country. If you have a few Gs in your ISA you are in the top 50%... All the nonsense online making everyone feel poor is BS with a course attached..
You killed this topic dude!!!! Wise words from young man. Hopefully you will influence more people to think independently and don't follow trends like tunas.
Great work as always mate. Im a huge believer in this mindset of bettering yourself day by day, month by month etc, I couldn't agree any more! Im bored of the standard 95% of UA-camrs churning out the same bollocks but adding a different thumbnail to entice you in. Another factual, accurate and entertaining piece of content from you once again.. Smashing it as always, have a great day bro!
Thank you so much mate! I always want to try and do it a little different and like you I think mindset is by far the most important thing when it comes to developing yourself and your finances. Really appreciate this support mate, have a great sunday!
Good advice. I've felt guilty that I'm not putting much into my vanguard these days due to having recently had a baby. This was the reality check I needed. 👍🏽
Babies are expensive!! Do not feel guilty for prioritising the needs of your child over your own. What is more noble than that?! Maybe just find a little to put into your Vanguard. Even if it is 20 quid a month.
This is a great video mam and the start I feel is a much needed dose of reality that we all know I think but always good to hear again, and especially from a trusted platform like yourself. Great work dude
Damo mate, your videos hit right, every time! You deserved the like button in the first minute. Your content is original and clever. Another great one.
Another well explained video using "expert" data and then a good dose of reality. As you say Damo the key thing is to do something and save what you can when you can. Life is for living and not constantly worrying about getting to 67 and having a pot of cash to live off until you check out. We have to hope we reach that point in life but can't not live for today too.
Good video again, At 56 I already get £37,500 a year pension + I still work and have £205,000 cash (cash + Shares) but as you say I still worry about money because I have not hit MY targets yet, I know what I want to do when I retire at 63, but as a recent widower with no plans to meet anyone else I need to ensure I have enough cash for old age, I know this is a lot of money especially when you take into account a large house that I owe less than 3% on, I have no problem talking about money but don't want anyone thinking I am bragging about what I have, because apart from making sure I can afford to look after my self when I am old (older) and going to watch England play cricket around the world I don't have any ambitions.
I only came across your channel recently but I'm really impressed by the quality of your content. Sensible, accessible financial content that I hope gets seen by a many people as possible. Keep it up, I expect to see your views and subscribers increase massively over time.
Mint video! The averages are so skewed and it's so important to stop comparing yourself and just do you. It's good to have set goals/amounts to aim for but anything is better than most looking at those stats!
Just stumbled across your videos, this and the cliff climbing one. Great content. The key is you're in a race with yourself only. Don't compare yourself with anyone else. Secondly live below your means. Get a raise? Great! Don't upgrade your life, save the money! You'll see your savings grow and grow. Others might laugh at you living in a dump or driving a bomb but who cares. Delayed gratification and buying for cash is better financially and more rewarding emotionally than maxing out those credit cards for a new car to post on Instagram. Finally the best investment you can make is firstly eliminating debt (student loans, credit, mortgages) then maximise cash savings to then allocate to diversified assets such as property, stocks, bonds, cash and gold.
woohoo, i am no. 200 on the like board :) it would be nice if everyone thought this way, but I think life gets in the way far too frequently for some families and get blindsided by the corporate blurb. So by getting your message out Damo, I believe you will make a big difference to those who stumble/find your channel. I certainly have listened and commented as you know, but have been kind of vindicated in what I have achieved so far in all that you have said. Happy days. good luck to everyone who does take the opportunity to subscribe to his channel. well worth it.
I didn't start heavily saving and investing until I was 25. Went from a negative networth of -$2K to $50,000 at 28 years old. Learning finance, margins, spending, investing habits on UA-cam taught me alot. Guys like you keep me on track
One of your best videos Damien, because it will hopefully get people thinking sooner than later about their finances and have a real positive impact for them. More people need to like and subscribe and watch your videos. I'll be introducing some of my younger family members to this channel in the hope they take notice and educate themselves about their financial future and so set their own goals. I'm in my 30s and have really ramped up my financial plan for my future but I wish I knew what I do now 10 years ago. Education is key and you're doing a great job getting the message out.
Thank you so much! Love this comment, when you look back at your 20s the answer seems so obvious doesn’t it, just tuck away a little bit each month and you will set yourself up! But following that advice is so hard. Hopefully you can get through to the younger members of your family
Nice fresh perspective. Although, I would say sometimes people like to be given a framework and i e found Dave Ramsay gives a great one to start with, particularly if youre in debt. Keep up the good work.
Honestly man we needed this video so thanks Wasn’t ever a big fan of the fidelity study as I’m trying to retire earlier than average so it never meant anything to me But this vid was just so uplifting and needs to be heard by others
Comparing yourself to others will often bring you down. I dont think there is a fixed solution for everyone and we all have our own path. If you are looking at your finances at all or working on your future then your in a great position. If your seeing this then you are in the right places!
Another brilliant video Damien! You are a genuine honest chap, and for that reason your channel will explode soon,, you can see me as an early investor (subscriber) to your Channel.
Another great video Damo and you are completely on point with your message. It is crazy how low the savings rate is in this country and you can very easily see pensions and retirement becoming the crisis of our generation. It’s through videos like this and better financial education in schools where people can become better informed around money, savings and investments.
Great video Damo, there is certainly no one size fits all in finances. In my day job I see people from both ends of the spectrum and if anythings for certain for a lot of people wealth certainly don't trickle down.
Thanks Damien, another great video to reflect on. I'm a very late starter re saving (47 yrs old). My target is 500K and calculated that with investing 2k pm I would need to keep working until I'm 63 and this is with an average of 4% pa. I'm happy with that, so any increase on 4% would be a bonus and reduce my number of years.
4% is nice and conservative in my opinion also! couple years of double digit gains along the way and you will shave a fair few years off that time line. The key is stay consistent even if the market moves the wrong way for a while. I look forward to keeping track on how your doing.
@@DamienTalksMoney What’s the calculations formula to achieve this - I’m not standing on ceremony with this - I’m 43 and had no idea about the world of shares - and the markets seems ripe to start now
Oh my giddy giddy gosh, you are *crushing* this whole UA-cam thing ! One of the most uplifting videos I've ever watched on this topic. Keep up the good work lad!
Yes! What feedback that is. I was worried I would be cringe or cheesy so this is music to my ears. Thank you Nick
Mate this is why I only watch you in terms of investing and money! You realise that all of us have different circumstances. I had my first job at 25 and I'm 30 now, live with my single mum who can't work and I've got less than £500 saved but most of that is MY fault as I didn't have the financial education which I do now thanks to people like you. So I'm 30 now and I'm starting again, sometimes I feel like I've wasted the last 5 years but we live and learn..
You sound like a hero to me mate. Supporting someone else and their child/children.
Honestly in 10 years you will look back and realise how young you still are. No time is wasted, it got you to where you are right now.. A person who understands what they need to do to make their life better.
Set yourself a realistic financial goal that allows you to live your life still and have fun and then work towards it. In another 5 years you will be amazed at how far you have gone! You have your best earning years ahead of you. you are going to smash it mate ☺
@@DamienTalksMoney Appreciate you mate, agree with everything you've said! Made me feel better after the past few months. Though I meant looking after my single mum haha..
Keep doing what you're doing mate, you're changing a lot of lives as I teach my sister what I learn from you.
@@Shash-sxngh even better mate! She put you here now you are taking care of her.
@@DamienTalksMoney agreed mate!
Keep going
Honestly one of the best youtube videos I've watched. Your compassion, care and genuineness really comes through. We need more people with an attitude like yours on the internet Damien!
What a compliment this is! Thank you so much and sorry for the delay in my reply.
I'm 54 and my wife and I are VERY worried about our future, gas and food prices rising daily. We have had our savings dwindle with the cost of living into the stratosphere, and we are finding it impossible to replace them. We can get by, but can't seem to get ahead. My condolences to anyone retiring in this crisis, 30 years nonstop just for a crooked system to take all you worked for.
@rachealhubert74 That's actually quite impressive, I could use some Info on your FA, I am looking to make a change on my finances this year as well
@rachealhubert74 I will give this a look, thanks a bunch for sharing.
Yes, she is a delectable advisor who will make you a queens ransom. There will be a joyous pot of pension gold from her blessings. She is Nigeria good woman 👍
@@OliverDesvauxdeMarigny-kq3cb Alice Marie Coraggio , lookup with her name online.
These are scam bots, ignore them
People need to start talking about money in the UK. It's nothing to be ashamed of and you learn a lot in return. What a banger, Damo!
I couldn’t agree with this comment more mate!! So many issues could be solved if everyone just felt comfortable enough to talk about money in healthy and open way.
@@DM-ip7bg well, I agree on the possibility of people reacting in severe ways but that should not be the case generally as we all know who the richest people are. Not talking about money can affect your family, your partner or your close ones. You don't want your mistakes to jeopardise their financial future. Hence, I feel that it's important to know where you stand to protect your finances.
@@DM-ip7bg - You’re taking talking about money to mean people saying how much they have - I take it to mean discussions on what money actually is, and learning how to use it as a tool to create wealth. These are two completely different things - the truth is most people simply don’t understand how to use money, and how to make it work for them.
I think having finance/investing as a subject in schools would be a superb thing. Young people can learn how to invest money at an early age, and why it's important. I was always so scared of investing myself, and only started at 36. Better late than never, I guess.
@@wagondragon - I 100% agree, I'm now 59 but knew absolutely nothing about investing until I was 30-31 and my extended family is still totally ambivalent to it even though I've been trying to convince them to start for years.
Investing has changed my life, its a essential skill that everyone NEEDS to learn.
I'm over 40 and still quite new to all this.
I'm just sad i could not do it earlier.
But as you wisely said, I am the one setting my targets.
You're wise. Your mom should be proud! :)
Great video! I am almost 60 and left my job which was draining the life out of me two years ago. I did NOT have the Fidelity box numbers or any of the other 'expert' savings amounts. What almost none of these experts discuss is how much you spend. They all say to 'maintain' your current lifestyle but looking at my parents who retired early as well, all their expenses have gone down. We budget to keep the household running and always extra for big family vacations. Budgeting and keeping track of spending will help so many people realize they can leave a job that is draining them and find something they really want to do. Keep up the great content!!
That clip of a man eating bricks makes my teeth hurt..
i watched "my weird addiction" and some woman carried rocks around and nibbled on them as a snack
My mum ate clay and soil when pregnant, apparently its the minerals that causes cravings. Weird
@@felixveja8154 how did your mum know the minerals were in the clay that’s what I want to know
@@DamienTalksMoney I asked her and she (rightly) got all feminist on me and told me to carry a child for 9 months and give birth and then I would find out 🤔
DTM charity fund raising event where you eat a brick and we all chip in a fiver? 🤣
Great video Damo. I am one of those late starters you spoke about, turned 40 this year and only just started paying attention to this sort of stuff. And it is exactly as you said, watching UA-cam and reading these articles in the beginning did make me feel like I'd left it too late and my efforts were now pointless.
But then I thought there is no cookie cutter, one size fits all template and started anyway. It's better to start late than not start at all. Just save as much as you can when you can.
Keep up the good content buddy.
You have the advantage of a wiser head on your shoulders, most who start in their 20s waste it all by chasing stupid gains instead of consistently investing in low cost well diversified options.
I bet you give it ten years of consistency you will be ahead of 70% of people your age.
@@DamienTalksMoney I did that for like a month when I first started. Gamestop being on the list of stupid investments and jumping into crypto without really understanding what it was about.
Once I'd calmed down, learned a bit more patience and realised I wasn't going to be able to retire in a year a multi millionaire, I sold the stupid investments when I could turn a bit of profit and invested all that back into more sensible stuff.
Don't get me wrong. I have still got some silly stuff. I bought a bunch of Shiba Inu with money I got for my birthday in May, just for a laugh and because I could get millions of them. Turns out that wasn't such a stupid idea though 😂
I started my investing journey as I have worked full time since the age of 16 and have no higher education so it became increasingly important for me to try and build some sort of wealth for the future, so started to take advantage of a very good works pension scheme and opened a S&S isa and also began to save. I am 23 this year and have 10k in my works pension, 2k in my S&S isa and over 7k in savings I am incredibly proud of how things are currently going and am just so glad that I picked up all of this knowledge when I did at a youngish age, now I cant advise my friends and everyone else my age enough on how important it is to do the same.
That’s amazing, fair play for getting the ball rolling from the literal get go. Keep it up
Good for you, that’ll pay off for you big time.
Enjoyed your take on this one, great vid!
Thanks mate! i see you have gained another 15 subs!! Flying now, well done
Love this video and love your opinions. Your grounded brother, stay humble. We all just need to stick to our own lane and enjoy life.
@@ukunknown808 exactly hiten mate!
Jesus, I have no idea why I high jacked this fellas comment instead of just posting on my own. Loll
I was one of those that watched the other videos and felt worried as I was miles off where I was supposed to be. I still have a lot of work to do as the big 40 looms but working on it. We should be teaching money and investing in schools. Thanks for a genuine and honest video.
Bill Gates said - Most people overestimate what they can do in one year and underestimate what they can do in ten years.
If you save consistently by the time big 50 is on the horizon you will be in a great place!
@@DamienTalksMoney Yes I could be in a much worse situation. I am going to build on the progress I have made. Thanks for the inspiration and videos.
I quoted that Fidelity research in one of my videos but I actually think your point here is spot on... you have to run your own race and that's the most important thing. Especially as it can be demotivating for many to use quite literally 'rule of thumb' 🙃 comparisons. Nice one man. Solid message and completely agree 👍
Thank you buddy as always so reassuring for someone of your background and knowledge to give me the nod. Working my way through your book recommendations at the min.
@@DamienTalksMoney cheers man, factor based investing is a really good one.
@@PrinciplesPersonalFinance Yeah it is the one i am reading at the moment.
This....is why I love your channel. Thanks mate!
Amazing comment! Thank you
Great video, mate.That acknowledgement that everyone of us is different, living with a unique set of circumstances, is gold and it help make people think for themselves. Orthodoxies are great in a perfect world, but how many of us have that experience? I didn't. I was doing ok for a late bloomer in my 50s, but with the economy in the sh*tter, I cashed-out of my S&S ISA and paid off the house and got my two-year emergency fund set aside. Now I'll be saving 75% of my take-home straight into the S&S ISA again - going balls out. Anyway, keep doing what you do, brother. You are absolutely essential viewing. Love it!
Love this comment and your thoughts! Thank you so much Iain. Also 75% saving rate and a paid off mortgage, epic!! Well done
You, young man, are an absolute god send.
Love your rational, no bullshit presentations. Thankyou
What a great comment thank you so much for this feedback!
Yes yes somebody on UA-cam talking a lot of sense. Never really thought about bloggers making fake videos saying they have more when they don’t, basically making you feel bad about your achievements and them feeling good about there fake achievement. Great video thanks keep on coming👏🏾👊🏽👍🏾💷
Thank you so much!
Actually in awe of this video, such a game changer in the current trend of forcing numbers and statistics down people's throats. Nice one mate!
Amazing feedback thank you so much!
This video has popped up for me loads because I watch quite a lot of finance videos, but I've been avoiding it because I hold the views that you shared. Happy to see that you're not giving out whatever numbers and taking into account the individual.
Thank you! I know this topic is completely overdone and that is why i wanted to put a fresher spin on it because I am sick of people saying you need X by this age.
Thank you for giving my channel a chance and for watching the video all the way through!
Bang on about setting your own goals. And although saving is a long term thing, making small, incremental changes to my lifestyle helped me realize noticeable gains on a regular basis over the short term. Saving then became part of my lifestyle - a habit, which for me, is the key. Nice one.
Spot on! If you form a saving habit then you are onto a winner. It is the first thing I do when I earn money now and it feels like having a shower. Weird if I do not do it.
@@DamienTalksMoney you should just degen it all into solana 🤣
Wonderfully empathetic and spot on. Love humourous clips, and especially the way you don't waste our time with waffle but get straight to the point. Outstanding!
It's a scary subject.
I remember sitting in Pret over 3 years ago researching this question at 30 years old.
My advice to anyone who cares is just start, no matter how small the amount. Be ambitious and positive. Try and increase your income.
Have your own goals and work steadily towards them because you'll look back as I am today and be proud and a bit shocked at how much you can achieve in a fairly short amount of time.
Be ambitious and positive! Put that on a t shirt great quote and attitude. Thank you mate
Damo absolutely slam dunking on some of the biggest finance channel names on UA-cam, effortlessly - best take on this topic I've seen
SWISH SWISH!
Thank you so much Mark. I think through no fault of their own some of the biggest in the game have forgotten how most live so the content on this topic can seem well out of touch with what is achievable
This is so refreshing after the crap I have watched online about this 🙌🏻 This video is exactly why I have notifications on for your channel, thank you!
Love this, Notification gang! Glad you liked my take on the topic.
Yes. This was needed Damien. Thank goodness you are talking about it.
I remember, after the pandemic started, and everyone was suddenly advising to invest in this and that, it left many many older people feel like complete idiots, because they didn't start saving/investing enough early on. (I'm in my early 30's, and even I felt like it for a certain period of time).
Many people have many choices/circumstances, like being married early, having kids early etc, which makes them happy. Not saying money isn't important, but some advice saying, you should remain single as much as possible, have kids later on, doesn't make sense to those whose happiness is more dependent on family etc rather than money.
Just saying some people place more importance of money, some on family, some on dreams... All are valid.. no one is wrong, no one is right. Be content with whatever is made.
Like they say in the gym (which you stated in the end), don't compare your body with other athletes in the gym, compare yourself to your past.. same applies to our personal finance.
Cheers Damien. Keep up the good work. Hopefully can meet you when I come to the UK 🙂
Thank you for this, couldn’t agree more! I had my son at 25 many would say this is young. But I’ll still be cool enough to take him for a beer when he turns 18 lol
Another blinder of a video there. Both honest and encouraging, cheers Damien, huge fan.
Thank you Antoine! Really appreciate you watching and dropping a comment like this
Awesome video! As a young person who turned 18 this year this stuff was interesting and very informative.
Thanks! Amazing you are looking at this stuff already. you will do great!
Came for advice... stayed for the pep talk
Fantastic video Damo. Comparison really is the thief of joy, and the thing is there’s ALWAYS going to be someone doing better and worse than you. If anything, take comfort in knowing this. Work on your own goals and do you. Like you say, compete with yourself and how you were performing last year - I believe that is key! And yes, you hear it a lot but it is absolutely true - no one will care more about your finances than YOU. 👏 👌 great job!
Awesome Damo! Screw these numbers! Set up your own goals and do not compare. Comparison is the thief of joy! I am going to put these up on the wall.
I was listening,
I am listening,
And I will be listening to the guy on the internet who is making videos in his loft, who I never meet, yet! But this guy helped me a lot!
Thanks for that Damo!
This was really insightful. I've seen loads of same style videos and always thought they made no sense. First video I've seen which actually talks sense! Great video as always 🙂
Yes! Perfect feedback. I fancied putting a fresh spin on the topic as I found a lot of the others very unattainable and disheartening.
Love this! Finally some HONEST motivational financial advice 👏👏👏
Thank you so much Mike!
This is the channel I really needed to find! Just watched all of your videos and have found them immensely insightful and helpful!
Thank you so much for watching the videos!
This was exactly the question in my mind recently. I had a late start in life because I had to be a carer for my sick mother, and I feel like I will never have my head above water. With a tiny pension, no home, and little savings I cannot even fathom being able to afford having a child one day.
You will get there! Just got to start saving what you can consistently and honestly you will surprise yourself at how far you can get
Nancy, from one woman to another who has put her mum first, you will get there! And you will NEVER regret the time you spent with her! No regrets! So start saving now- I watch The Frugal queen in France too, as a woman, she gives me practical tips where to save on a daily basis. I haven’t bought anything new since April 2008. I am an eco warrior, I don’t want to leave a massive carbon footprint! So I shop in Charity shops! I don’t squander, I have like minded friends, we are proud to be frugal! So don’t fret, you are on the right path and will get to your goals sooner than you think.
This will probably get buried in the deluge of comments since this is such an old video, but the sentence where you said "the only person you should be comparing yourself to is you last year" is a mantra I resonate with and personally have lived by for the past few years now.
Too many times in the past I have fallen into the habit of comparing my career and earnings or net worth with my peers in the same age group and felt I was always behind. Or I would go onto social media and see people spending and living their 'best lives' and feel depressed when I'm living an ordinary and unspectacular one.
I now focus on my own financial situation, what I can do to make it better every year and focus on building better habits that allow me to save and invest for the future, while also knowing that living in the present is important as well.
Preach my man. Preach. The hardest thing that people need to do is simply ‘decide’. Decide that they want to be in control of their financial destiny. Decide that they don’t just want to retire when the government says they can on a shitty state pension. Once that decision is made, setting goals and working towards them is easier than people think.
Great video as always mate.
Thanks mate!
Great video ! Felt quite comforting that I’m at least doing “ok”. When everyone around me feels like they’re doing better. Sometimes we need the reminder that most of what we see out there is just made up!
Completely made up mate! The reality of it is if you are not in credit card debt and have a quid in your pocket you are richer than 1/3 of the country. If you have a few Gs in your ISA you are in the top 50%... All the nonsense online making everyone feel poor is BS with a course attached..
Damn, you have earned a sub. I like the way you break things down.
The most honest video I’ve seen in regards to finance. Thank you for this, I needed to hear this!
love the humor, this is brilliant. SHARING THIS!
Thank you so much mate. Really appreciate you sharing the video
Definitely the best one of your videos I've watched to date. Thank you for the no nonsense presentation of facts. Brilliant.
Thank you so much mate! Excellent feedback this.
You killed this topic dude!!!! Wise words from young man. Hopefully you will influence more people to think independently and don't follow trends like tunas.
Damien thank you for being authentic. You are literally one of the only people that I have found making videos about the reality of money.
Great work as always mate. Im a huge believer in this mindset of bettering yourself day by day, month by month etc, I couldn't agree any more! Im bored of the standard 95% of UA-camrs churning out the same bollocks but adding a different thumbnail to entice you in. Another factual, accurate and entertaining piece of content from you once again.. Smashing it as always, have a great day bro!
Thank you so much mate! I always want to try and do it a little different and like you I think mindset is by far the most important thing when it comes to developing yourself and your finances. Really appreciate this support mate, have a great sunday!
Killin it with these vids man! 🔥💪
Thank you mate!
Good advice. I've felt guilty that I'm not putting much into my vanguard these days due to having recently had a baby. This was the reality check I needed. 👍🏽
@Damien Talks Money V
Babies are expensive!! Do not feel guilty for prioritising the needs of your child over your own. What is more noble than that?! Maybe just find a little to put into your Vanguard. Even if it is 20 quid a month.
Best UA-cam channel about common sense investing hands down!
Thank you so much! Really appreciate this
This is a great video mam and the start I feel is a much needed dose of reality that we all know I think but always good to hear again, and especially from a trusted platform like yourself. Great work dude
Thank you mate! I needed to hear it myself.. I use all those apps and compare in all the ways i discuss, apart from the urinals of course... ha
Damo mate, your videos hit right, every time! You deserved the like button in the first minute. Your content is original and clever. Another great one.
Thank you so much mate. Excellent feedback
Another well explained video using "expert" data and then a good dose of reality. As you say Damo the key thing is to do something and save what you can when you can.
Life is for living and not constantly worrying about getting to 67 and having a pot of cash to live off until you check out. We have to hope we reach that point in life but can't not live for today too.
Good video again, At 56 I already get £37,500 a year pension + I still work and have £205,000 cash (cash + Shares) but as you say I still worry about money because I have not hit MY targets yet, I know what I want to do when I retire at 63, but as a recent widower with no plans to meet anyone else I need to ensure I have enough cash for old age, I know this is a lot of money especially when you take into account a large house that I owe less than 3% on, I have no problem talking about money but don't want anyone thinking I am bragging about what I have, because apart from making sure I can afford to look after my self when I am old (older) and going to watch England play cricket around the world I don't have any ambitions.
Educational, inspirational & funny all in equal measure... You should have 10 times the followers you do bud, keep going...
I only came across your channel recently but I'm really impressed by the quality of your content. Sensible, accessible financial content that I hope gets seen by a many people as possible.
Keep it up, I expect to see your views and subscribers increase massively over time.
Mint video! The averages are so skewed and it's so important to stop comparing yourself and just do you. It's good to have set goals/amounts to aim for but anything is better than most looking at those stats!
Exactly Hannah! Couldn't have said it better myself
Such a refreshing take and I love the humor, thank you!
Thank you so much!
Refreshing to have sound advice on this, you're smashing it mate 🙌
Great content mate. People shouldn’t compare themselves to others, just continually be improving themselves 💪🏼
Hello mate! Thanks for stopping by. How on earth did you find this video?! Haha
Congrats on all your success
Just stumbled across your videos, this and the cliff climbing one. Great content. The key is you're in a race with yourself only. Don't compare yourself with anyone else. Secondly live below your means. Get a raise? Great! Don't upgrade your life, save the money! You'll see your savings grow and grow. Others might laugh at you living in a dump or driving a bomb but who cares. Delayed gratification and buying for cash is better financially and more rewarding emotionally than maxing out those credit cards for a new car to post on Instagram. Finally the best investment you can make is firstly eliminating debt (student loans, credit, mortgages) then maximise cash savings to then allocate to diversified assets such as property, stocks, bonds, cash and gold.
This video was abseloute class and such a good video that I can show friends, very underrated
Yes Callum! What a legend, thank you for sharing my content mate
One of the best channels on UA-cam right now
What a compliment. Thank you so so much
woohoo, i am no. 200 on the like board :) it would be nice if everyone thought this way, but I think life gets in the way far too frequently for some families and get blindsided by the corporate blurb. So by getting your message out Damo, I believe you will make a big difference to those who stumble/find your channel. I certainly have listened and commented as you know, but have been kind of vindicated in what I have achieved so far in all that you have said. Happy days. good luck to everyone who does take the opportunity to subscribe to his channel. well worth it.
Without fail you bring hope, inspiration and action. Long live King Damian 🤴🏻
Thank you so much mate
Best video of yours I've watched to date. Well done! You should be proud.
Thank you for this feedback mate! Just made my morning.
Really enjoyed this one. Love it when realism and optimism can co-exist
Exactly what I want from the channel! There is zero reason why people can't feel good about their finances.
Absolutely fantastic video on this subject mate, keepin it real. Thank you ❤
I didn't start heavily saving and investing until I was 25. Went from a negative networth of -$2K to $50,000 at 28 years old.
Learning finance, margins, spending, investing habits on UA-cam taught me alot.
Guys like you keep me on track
Too slow bro, I only started at 19 and got 200k saved by working at McDonalds by the time I was 21.
@@antan8097 is that all? I had 500k saved up by 14 just by running a lemonade stand
One of your best videos Damien, because it will hopefully get people thinking sooner than later about their finances and have a real positive impact for them. More people need to like and subscribe and watch your videos. I'll be introducing some of my younger family members to this channel in the hope they take notice and educate themselves about their financial future and so set their own goals. I'm in my 30s and have really ramped up my financial plan for my future but I wish I knew what I do now 10 years ago. Education is key and you're doing a great job getting the message out.
Thank you so much! Love this comment, when you look back at your 20s the answer seems so obvious doesn’t it, just tuck away a little bit each month and you will set yourself up! But following that advice is so hard. Hopefully you can get through to the younger members of your family
Nice fresh perspective. Although, I would say sometimes people like to be given a framework and i e found Dave Ramsay gives a great one to start with, particularly if youre in debt.
Keep up the good work.
Honestly man we needed this video so thanks
Wasn’t ever a big fan of the fidelity study as I’m trying to retire earlier than average so it never meant anything to me
But this vid was just so uplifting and needs to be heard by others
Thank you mate! So glad you liked it. I always thought the assumption we all want to retire at 67 was a bit annoying..
@@DamienTalksMoney Yeah just a bit annoying haha
We need more people like you. Fan from South Africa
Awesome video Damian. You come across so well and genuine in these videos.
Thanks Jack mate! Amazing feedback, Have a lovely Sunday
Fantastic video man! You’re killing it here on UA-cam 😎 Some very well needed points brought up, fair play 🤝
You absolutely nailed it! Well done mate
Thank you so much mate!
Comparing yourself to others will often bring you down. I dont think there is a fixed solution for everyone and we all have our own path.
If you are looking at your finances at all or working on your future then your in a great position. If your seeing this then you are in the right places!
Yep basically what i said in the video! Thanks for stopping by mate. Good luck with your channel
@@DamienTalksMoney yeah it was a great video! Thank you! I appreciate your support
Great video. Makes so much sense to look at your own situation than comparing it to others. Its the world we live in though
Indeed it is! Feels like everything is a measuring contest now and all we get is images of beautiful rich people constantly..
Get off Instagram mate
@@manckid7795 no worries. I'll get off it right now. What a tip.
@@kulvindersingh-gt4ji 😂it’s true though bro, this flex culture is killing folk
Another brilliant video Damien! You are a genuine honest chap, and for that reason your channel will explode soon,, you can see me as an early investor (subscriber) to your Channel.
Super video mate, always set you own goals and youre in control. Super message mate
Exactly this lad! Thank you as always for stopping by
Thank you Damien again for all the hard work that you put n your videos they really inspire me.
You are so welcome! Thank you for watching them
Really great approach, thx for sharing with us 🤙
You are very welcome mate
hey mate - 2nd video i watched today having just found / subbed, really like your perspective and uplifting / empowering tone, keep it up!!
Thank you mate! Welcome to the channel and thanks for dropping a comment
You are different class mate … top notch content as always
Mate such a nice comment. Thank you so much
Thank you, great video!!!
What a great explanation of the difference betwen the mean and the median and why the median is more important in this context!
Wow! Amazing content. This is what we call CONTENT!! Cheers
Thank you so much!
Another great video Damo and you are completely on point with your message. It is crazy how low the savings rate is in this country and you can very easily see pensions and retirement becoming the crisis of our generation. It’s through videos like this and better financial education in schools where people can become better informed around money, savings and investments.
I 100% can see it becoming a crisis! I will do my part to wake people up to the risks as we really cannot rely on work and state pension schemes.
This is really good content, i like the way you point out the issues that exist with the information we get.
Knew I’d agree with your conclusion Damo. Keep ‘em coming big man.
Good to hear mate! Thank you so much for watching till the end
Amazing channel and what a genuine guy! Couldn’t have subscribed any faster 🚀
Thank you so much and welcome to the channel!
Not only is my financial knowledge improving with every video but so is my musical knowledge!
Another impressive video showing your talent of finding and dissecting knowledge shines above the other investing UA-camrs.
Thank you so much! Loving your comments recently.
Great video man! Editing on point ❤️ new sub ✌🏻
Thank you mate! Welcome to the channel and thanks for subbing and dropping a comment
@@DamienTalksMoney 😁😁 excited for the new stuff brother!
Another great video 👍🏻 thank you for content and down to earth presentation.
You as always are very welcome!
Smashed it as always! Thanks mate
Thanks lad!
This channel is excellent 👌
Thank you!
Great video Damo, there is certainly no one size fits all in finances. In my day job I see people from both ends of the spectrum and if anythings for certain for a lot of people wealth certainly don't trickle down.
Hey bro, my mate recommended your channel. Really good videos, both informational and funny 😄
Yes mate!! Thanks for stopping by and dropping a comment and tell your mate he is a legend for telling people to watch the channel
From the day I subscribed to your channel I knew you're good at what you're doing.
Haha still feel like I don't know what I am doing.
Thanks Damien, another great video to reflect on. I'm a very late starter re saving (47 yrs old). My target is 500K and calculated that with investing 2k pm I would need to keep working until I'm 63 and this is with an average of 4% pa. I'm happy with that, so any increase on 4% would be a bonus and reduce my number of years.
4% is nice and conservative in my opinion also! couple years of double digit gains along the way and you will shave a fair few years off that time line. The key is stay consistent even if the market moves the wrong way for a while. I look forward to keeping track on how your doing.
What’s the calculations formula to achieve this - I’m not standing on ceremony with this - I’m 43 and had no idea about the world of shares
@@DamienTalksMoney What’s the calculations formula to achieve this - I’m not standing on ceremony with this - I’m 43 and had no idea about the world of shares - and the markets seems ripe to start now
Sounds bad but most men don't live pass 60 and die shorty after. So it's not anything to be happy with.
Just class mate - as a young 50 yr old i especially appreciated this! Cheers Damien 👍
Thank you so much! Glad you liked it
GREAT video!!! Thanks !!!