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"You see we've been taught to be good little go-getters. But go-getters lose. They blow it. You see, instead we should be taught to be good little go-givers!" ~Bob Proctor 🙂
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.
The system still rewards you and you can manipulate with that money how you please. There are ton of options with investing, compound interest is the king.
Never. School is to teach you how to be a W2 earner. Bare bone basics. It's up to YOU to seek and apply wealth building knowledge. That's why there are books...READ.
i thought the same thing, then i read your response, how come they don't teach this to kids ?, my parents never saved any money , so I didn't, I been telling my kids to do it since they were young
Having multiple streams of income is a game-changer for financial stability. Relying solely on a job may not provide enough financial security due to high rates of tax It is important to explore additional investment opportunities to surpass one's expectations.
I’m not sure how many different people I’ve watched or read to get better at my own financial literacy, but this guy is the absolute most straightforward person I’ve seen. Really great advice for planning. No extra crap.
Straight up numbers and facts. Still. The fluff and stories Robert Kiosaki brought up 20 years ago in Rich Dad, Poor Dad gave the internet catch phrases like "passive income" and the importance of "cash flow". Quite possibly the 1st guy to coin the phrase "passive income" and clearly define them as royalties, dividends, etc. With the popularity of YT videos, entrepreneurs found a new way to generate "royalties". Then throw shade on the guy for being non specific on "what to do" or "when to do it". Pretty much everything in this vid says use cash flow to buy assets. Even has the same definition of "assets" that Kiosaki introduced 20 years ago.
I’m pretty young and just started my portfolio with around $80K. Dividends drew me in right away! Slowly trying to create significant passive income and manage my Stock Portfolio. how do I invest to deal with markets ups & downs
Having an investment advisor is the best approach to the stock market right now. I was going solo without much success until my wife introduced me to an advisor. I've achieved over 80% capital growth this year, excluding dividends.
*Marissa Lynn Babula* is the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment..
Messenger of Allah (PBUH) said, "Wealth is not diminished by giving (in charity). Allah augments the honour of one who forgives; and one who displays humbleness towards another seeking the pleasure of Allah, Allah exalts him in ranks." [Muslim]
I live on $ 2000 a month as a single mother. No child support, so it looks like I'm going to need a few side hustles to do this, but at least now I have a plan. Thank you! 🎉
You can try to get a digital marketing certificate online. It may cost you about 50-100 dollars depends on your learning time. After you get the certificate you can looking for some really good side hustle. $20 to $30 per hour.
Opening a high yield savings account or money market account at the minimum both are free and you get compound interest on your own money saved for life
Toby I’m from London England, about to retire. Made loads of mistakes financially over my life. I know when I see a decent straight talking guy. You are dynamite my friend. Thank you so very very much. I have read books, searched to learn. You just smashed it wide open. Wishing you well Toby, keep doing this, the ordinary slogger guys and girls need you.
I'm not even going to lie, this was a very solid video. Step by step. Realistic. Solid, safe advice. No fancy steps besides some of the option talk. This strategy will see results. Good job!
Im fortunate enough to be 20 years old and still living at home. This enables me to save about 80% of what I make a year (about $24,000 aud). With the 80% I save I invest 60% into the stock market (mainly index funds) and use the other 20% to pay off my student loans. I want to get into property by the time I’m 25 so my goal is to sell some of my shares and put a deposit on a house soon.
Great goal and Idea, however rather than selling your stocks I recommend reducing your stock allocation from the 60% to 40% - 45% and put the 10%-15% into a high yield savings account averaging 3%-4% to start a real estate investing fund. Selling your stocks should be a last minute resort because the Dividends you are/will be receiving from your Index funds will really start to compound after your 5 year mark. Selling would reduce that great nest AND you could leverage that nest to purchase more Index fund shares during a big downturn. Lastly when you purchase a home using an FHA loan it only requires 3%-5% down payment + fees & fees. Keep Up the good work young man.
@@WealthyBrainYT I've changed my strategy a bit since I wrote my last comment. Im still saving 80% of my income, 50% of it goes into stocks and I just save the other 30%. The last 20% I use to pay my daily expenses. I've decided not to manually pay my student loans, here in Australia we get interest free government loans which are automatically paid off proportionate to your salary. My money will go a lot further in stocks than it would paying off my loans. I also don't really see a point in buying a house, would rather rent and put the money I'm saving from a mortgage into stocks.
Purchase real estate to rent out. Purchase at a price that will have the rents pay all the expenses and put dollars in your pocket also. Additionally, the home will appreciate in value over time. Win/win.
Live at home as long as you can and continue investing. Sure, contribute to the household, but stay. Some people will laugh, but years down the road, you will run into them and see that they are still slaving away while you are sitting golden.
Real estate investing is the bomb, I love it. I try to talk everyone into it because it has such incredible power to supercharge your net worth. I think professionals who are stalled out in their career income (like teachers, pastors, nurses, etc) should really jump into real estate so they can supplement their current income and build real retirement income. And they can become millionaires even if they don't have a lot of cash to invest. I know because I've done it! You can too!
That’s what UA-cam is for!😂 Seriously, our districts teach finance in elementary, middle, high school. So you should have a discussion with your local board members to change your district’s curriculum.
My public school taught me about the basics of economics and investing. But when they “taught” this my primary focus was on quick females (damn hormones). 15 years later I know better now and I am acting accordingly to slowly build generational wealth and be a better person.
My father was serious about this except we lived off of a quarter of his pay. 😅 He was full of wisdom and despite passing away very young my mother has never had to work a day in her life due to how he invested. I'm so grateful for everything he taught me. This is great advice. I share advice I learned from my father and what my life experiences have taught me. Thank you for sharing your knowledge. It's a shame this isn't taught in school.
You father sounds like a very wise man. I appreciate you sharing. We need more like him. Sounds like his wisdom is being spread by his daughter though:-) Keep it up.
If we continue getting videos like this one, parents will stop sending their children to college. Free, on to the point - informative, hands- on, self-employment within days, guaranteed success, no student loan, passive income, lots of free time, etc. Thank you, sir, for being what you are, selfless. You are on your way to becoming a legend.
This was very inspiring. Gets straight into the point right from the start about assets and liabilities. Also, I've never seen in any videos of this kind suggest "giving". I did it as a younger (and poorer) self, but my obsession with money gradually led me to neglect it. Thank you for reminding me.
This was by far the best and most straight to the point lesson on financial success. I truly appreciate having come across this video. No bu***t, just plain facts and super easy structured. A big thank you, this is public service ❤
I really love this explanation on how to properly structure your finances for wealth. Its not get rich quick, but is a gradual process to building wealth!!
Wow this is gold, thank you so much ! I was recently blessed with a job that pays me six figures and I can honestly live with half of my salary so for the first time ever I have the opportunity to truly invest and accumulate wealth, I blew a lot of money on expensive cars when I was younger but I wasn’t ready for this kind of wisdom and maturity back then, today I’m 41 and I’m more ready than ever, the universe works in mysterious ways and everything happens at the right time, thank you again and god bless you all!
Absolutely loved the giving part (it's a big source of personal happiness). Would have never expected to find it in a video about passive income, but absolutely loved it. I specially agree on that point. And the whole video, actually.
That stuck out to me too. I'm an Evangelical Christian, and believe very much in giving. However I listened to Robert Kiyosaki who is not, but he also emphasized how important that was. To me it seems interesting that even in the secular world, they are finding the benefits of giving.
I respectfully disagree with you. I'm not against giving but it doesn't have to be money. You can give in other ways such as volunteering at schools, hospitals, etc. I've volunteered for over 23 years in different capacities, it was a source of personal happiness for me. I don't have to give my money away to anybody to make me feel good about myself. Just my personal opinion.
@@c17airborne I don't need it to feel better, either, really not. When I give money to someone who is going through a rough patch, or to help some cause, I actually do it to help those people. I have also volunteered with my time and skills. But one thing to be considered is that people having very heavy/busy activity (in professional and/or family matters), what can't provide with is time, while they can help with money, and that helps, too. Each situation is different, I think both ways help a lot, whether one does one or the other, or both. But my statement about 'giving' being a great source of happiness was indeed in a *much* wider and deeper sense than just money related, and mostly about the people around you (family, friends, couple, colleagues, neighbors, etc). Most of the time not with money, but time, understanding, advice.. help, in one word, whatever you see that person needs. Sometimes it is just about being kind enough. Producing others' happiness gives in my opinion pure, real happiness, in an exponential growth of it: at the beginning, not noticeable _at all_ , just like when you start going to the gym (so, like that, and mostly everything in life, is a game of patience), but it gets to be a reality when it becomes your way of doing after some months/years. My 2c.
This is awesome. 50 y/o and started doing everything you had recommended about 20 yrs ago. Very true about generosity and charitable giving. Also have 5 types on income plus...Cash flow business. Great work/Great advice. Twenties in school and training until 33y/o, lived off ramen, mac and cheese for 10 yrs. Started at 33 yo - zero net worth. Now near 8 figures.
Transfer of wealth usually occur during market crash, so the more stocks drop, the more I buy, in the meanwhile I'm just focused on making better investments and earning more as recession fear increases, apparently there are strategies to 3x gains in this present market cos I read of someone that pulled a profit of $350k within 6months, and it would really help if you could make a video covering these strategies.
I agree, I've been in constant touch with a Financial Analyst for approximately 8 months. You know, these days it's really easy to buy into trending stocks, but the task is determining when to sell or keep. That's where my manager comes in, to help me with entry and exit points in the industries I'm engaged in. Can’t say I regret it, I’m 40% up in profits just in 5months with my initial capital of $160k
As a private investor I like investing in close -end funds that pay monthly dividends; IGD-That invests in stocks & covered call options. NRO-That invests in real estate & reits. MGF-That invests in government treasury futures, notes & bonds. CMU-That invests in tax exempt municipal bonds. And, NCZ-That invests in convertible securities like bonds and prefered stock. I also like investing in PSEC. It's a business development company that pays a monthly dividend.😊
Love" live within your means" too many people confuse wants vs needs. I have only bought a new car once. I am proud to drive a used car knowing I am putting my money into assets instead a car payments . Great video.
Toby, you bring so much light to the world of investing and money management. I love the way you break it all down into manageable chunks. This is my 3rd time watching this video and I glean something new each time. Love the content!
@@TobyMathis 😘🥰😍LOVE THIS Video & Love You Toby For Doing THIS Video📸 This Is Awesome👍 AMAN Aman AMAN Aman 🙏🙃🌹 I've Been Tell Some People That WE Need To Have a Group & Each One Learn A Piece of Financial Literacy & WE Come Together In a Show&Tell•Manor....!!!! EACH•One•TEACH•One Working TOGETHER In-Order Too Overcome Like•Minded People Achieving Financial FREEDOM ‼️‼️‼️❣️❣️❣️ WOW 😳 a Beautiful Thing!!!! Sir Toby, I'm Going To Share This😘🥰😍 Thanks Dearly❣️
I find myself going back and re-watching this video for inspiration. Excellent content. No distractions. Good luck to everyone following this formula. It will work if you do NOT quit.
I am only a few minutes into your presentation and I had to comment that I love your ethos about giving/donating if not money then time and skills. This opens up so many amazing opportunities and friendships. Not bible thumping but to paraphrase- seek ye first the kingdom of God (good?) and all these things shall be added onto you. Practically every faith system in the world echoes this sentiment. B blessed! xxx
Toby is my daily must watch youtube guru now! Love all the content. I close $500M commercial real estate deals a year, I am still learning every aspect of how to save taxes on real estate😊
I have never seen such a great explanation, with concrete examples, of how to build passive income. Thank you Toby, a wholehearted thank you, and big thumbs-up, of course.
This is great and solid life advice. That said when something like The Great Recession comes and you lose your job, all your real estate, have your accounts confiscated, and are stuck with a huge tax bill and school loans even after bankruptcy then good luck. Nothing will convince your family to save and invest. Nothing.
Clearly trying to produce lots of income. But not obsessed with wealth as the end all be all of life. Sometimes enough is enough. Giving and donating time has always been part of my life but never considered it part of my investment thesis. What a refreshingly simplified perspective on investing for the future. Following for sure. ❤
Newbie here, newbie to your videos anyway. Love what you're posting. I already did what you are teaching. I'm currently now debt free. Home is paid off, no loans, no credit card debt. Have 401K being managed by a financial advisor. Playing a little with stock market. Interested in buying assets that produce income.
I just wanted to commend you and thank you. As a 55yo I have heard the value /importance of giving presented every time in regards to financial planning or budgeting. Some times as an afterthought and others as the central point. And I agree with that all day as life continues to prove we get what we put out. Yet, giving is so low on my priority list it has zero weight with no room for future expansion due to the long line of things ahead of that I believe are under funded. You made the topic important by allocating time to it. More than most. You pointed out how resources can be assigned in a few ways to so as to include everyone, while showing empathy even if nothing is being allocated currently to giving, then invested extra time in highlighting the multiple benefits. Thank you for that. You managed to make a crack in the foundation I’ve built and been reinforcing for decades large enough for me to realize it’s futile to restore it. My only option is to replace it.
watched this video 2 times now and I will watch this one again, like a religion, this is a way of life, that I need to keep reminding myself of. Thank you and I have already recommend your video to others!
I am guessing you want to put another $50k into managed money? I am 55+ years old and have zero, i mean, zero money. I am living paycheck to paycheck. I was just hired for a job that pays into six figures. Love this idea!!!!! Luckily, I do not have much debt and will follow this. So, I will do this with the goal of putting $50k into the three 30%'s over the next three years. And yes, do the 10% of this as well. I am motivated again to try one last time to get a head. Thank you for posting and giving and donating your time to this.
Thanks a lot, I've always wanted to give back but didn't know how to because of my financial situation. When you said give back with your time, it got me thinking and then I ended up doing some research. Here in Alabama, you can "adopt a mile" where you keep the mile on a highway/county road free of litter/trash. It's something that always stood out to me (I've seen others doing it), so I'm going to give it a shot 👍
Love the 70/30 rule. Jim Rohn talked about this too. He recommended the original idea which comes from the book "The Richest Man in Babylon." It's a excellent read, written in story form at an 8th grade reading level. You can knock it out in an afternoon. It was actually translated from ancient clay tablets that are thousands of years old. The best advice is simple. Read it.
This is the most succinct explanation of developing a wealth portfolio I have heard. I have been watching others on the platform and they say the same thing but this right here "bestest", clearest, easiest to understand and implement. Thank you 🙂 👍🏾
Toby. You gave the magic ticket when you said, “Sell everything that’s not nailed to the floor” I’m sure most of us in America can look around and sell 3,4,5 thousand sometimes more in our home. Drop that in an investment account if you are living check to check
I’ve been looking into investing for a couple of months now. I came across you and I am excited now!! You explanation and guidance is what my soul was searching for! Thank you! I have subscribed and will be watching your channel. I am also sharing this video in particular.
Love it Toby! One thing I do instead of managed money is I look at well-performing mutual funds or ETFs and steal their ideas for good stock picks. Also, as a news junkie, I get ideas just from watching news stories, not necessarily financial news. I'd like to get involved in other asset classes but I'm not an accredited investor (yet).
I listen and watch TONS of investment advice videos on UA-cam. This was great! The leverage advice is something new to me. Instant sub here!! Thank you Toby
Well. Last year was great. 12 weeks vacation Net from real estate 20k Salary 50k Farming broke even 😂 Bonuses 150k Business net 250k Spending 40k Hope I repeat this many many years...
Finally, a plan that resonates with me. We're debt free and have a rental in California that we own out right. Thanks to Prop 13, the property taxes are low. I really need to put that equity to work but I hate debt and don't trust California politicians. They're likely to impose a rent moratorium on single family dwellings during a recession or depression.
Good point. How do you plan for those contingencys? A lot of investors I work for park their money in Texas, a Red state. With all the appreciation of your property have you thought of selling and doing a 1031 exchange? Giant, huge in flows from three places New York, California and Washington, more specifically Seattle.
You are right about the REITS stocks. They are even better in terms of paying the dividends as the REITS are obligated to pay out 90% of their profits as dividends secured by law, while the normal aristocrat stocks can cut off in some phases. What do you think about the Tax Liens Certificates as an alternative to REITS investing?
If only I had the knowledge back then to buy what we were using when no one else was using it. We were using Google in 1998, Amazon in 2002 & Netflix in 2005. I felt like they were great ideas back then which is why we started using them, but never knew about investing. A very sad case of missed wealth.
I am not rich. I am just a simple person on the street of Bougainville Island, PNG. I find such material to help me how to build my riches. appreciate it 🙏
Great content Toby. Question on rule #2, you are saying to get each bucket up to 50k or divide our 30% into the 4 buckets proportionally? At $270/mo it will take quite a bit of time for it to get to 50k
Apologies for the late response - it is $50k per step in order - just make sure 10% is always going into the cash bucket. Only after you are above $150k or so do you need to worry about the percentage allocation. I hope this helps:-) Best of luck.
This is super awesome and makes it simple! Question - what about a 401-k that locks you into funds? I want to manage stocks on my own, but don’t want to miss the free money on the 3/1 match!
Many plans allow you to tranfer vested funds once each year to an IRA. Keep the sweet match. No tax or penalty since they are both tax deferred. You will have 60 days to complete the transaction---OR ELSE. You'll get a 1099 to report. I did it some years ago and it was easy. If they are both at say Fidelity, there may be a direct method but I haven't looked.
Finally, an amazing video with great values and lessons. This matches everything my mentors and parents taught me plus a bunch more. Thank you for the video 👏
Everybody out there- Mr. Mathis is right! 31:55 I made the mistake of selling my 2 rental properties and now I'm regretting it.. I took a tax beating from the government, and now I have to work hard to get back to even.
Wow, what a wealth of information in this video, Toby Mathis! You really know how to engage your audience with your passion for financial literacy. Your 7030 rule is an excellent starting point for anyone looking to build a passive income empire. And the fact that you are a tax attorney only adds to the credibility of your advice. I love the trend you noticed about giving and paying down debt among the ultra wealthy, it's great to see that generosity and financial responsibility go hand in hand. Your take on debt as a liability and assets as a source of passive income is spot on. Can't wait to hear more about your five infinity income types and what the next step will be!
Thank you for sharing. The most realistuc and straight up advice. Not conplicated and very simple to follow. The main thing is increase your income so you have extra money to start investing. There is a border line income so you will be able to live comfortably and then extra income can be use for investing.
Don't know where to start but really appreciate the information on your videos. You put the information out there so the go getters can have access to it. Strong wk💪
Good topic and well explained. I read a book over 30 years ago and the one thing the author kept saying was "Pay yourself first". Basically this was your savings/investing. As you said, take 10% and this goes to your investing, then you have to pay your bills, and if any money is left over you can do whatever you want with it because you have already paid yourself first.
"If these video classes were mandatory in schools, the new generation of America would have much more financial education than we currently have, and there wouldn't be as many economic problems as there are now!
I would switch around the dividend purchases and put the first 50k in the REITs. Your snowball will build much faster with 6-10% yields than with 2-4% yields.
@@jackjones1727 The point is that you fund the higher yield divs first which will generate more cash flow. If you do both at the same time you will dilute your yield.
i am 24th and to me you are my eyes opener. i mean i went to school, uni and graduated but why did not they teach us these things over the years now feels like i wasted my time. thank you for the knowledge through videos making things very clear.
Great content! I had been keeping a disproportionate amount in my businesses. You capital allocation and tax strategies are just the kind of content I enjoy consuming. Going to trim some of my growth stocks for a higher allocation of dividend aristocrats and REITs. Sadly, just this year starting to get into private allocations, etc. Thanks for the excellent content and keep it up!
Toby you are fabulous ❤ / I’m mortgage free , but the condo has carrying costs - I’m retired / real estate values are up - should I be looking for other alternatives ?
Would you like to learn more about building passive income? Join Infinity Investing as a Basic Member and Unlock Your Free Training Today! inf.link/zfk
Do you provide consultation for Canadians
I’m just trying my luck with this and it doesn’t look too great for the job so 😊
I m from canada, but got no country selection on membership registration. Can u create options for canadians also
Totally agree
"You see we've been taught to be good little go-getters. But go-getters lose. They blow it. You see, instead we should be taught to be good little go-givers!" ~Bob Proctor 🙂
It's refreshing to hear someone giving financial advice and including "be a decent human being" as part of that advice.
Thank you so much for your kind words!
Same. He had me at: Give 10% of your income. Thank goodness he said we can also give our time.
😂❤
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.
Crooked system 100%. No real change until a lot of people collectively say enough is enough is enough.
Which country?
I didn’t plan well might be your afterthought.
The system still rewards you and you can manipulate with that money how you please. There are ton of options with investing, compound interest is the king.
@@HakikaThreads
Let's start with occupied AmeriKa
This should be a mandatory video in high school or college
Never. School is to teach you how to be a W2 earner. Bare bone basics. It's up to YOU to seek and apply wealth building knowledge. That's why there are books...READ.
i thought the same thing, then i read your response, how come they don't teach this to kids ?, my parents never saved any money , so I didn't, I been telling my kids to do it since they were young
@@user_abcxyzz this video is bare bone basics as well. The video might be too much for YOU, but it’s all basics.
I wish some body taught me in my 20s😊
@@user_abcxyzz exactly. People haven’t figured this out yet? And you put it nicely. School teaches you how to be a slave!
Having multiple streams of income is a game-changer for financial stability. Relying solely on a job may not provide enough financial security due to high rates of tax It is important to explore additional investment opportunities to surpass one's expectations.
I’m not sure how many different people I’ve watched or read to get better at my own financial literacy, but this guy is the absolute most straightforward person I’ve seen. Really great advice for planning. No extra crap.
Thank you, Dan!
Absolutely agree!!
Straight up numbers and facts.
Still. The fluff and stories Robert Kiosaki brought up 20 years ago in Rich Dad, Poor Dad gave the internet catch phrases like "passive income" and the importance of "cash flow".
Quite possibly the 1st guy to coin the phrase "passive income" and clearly define them as royalties, dividends, etc.
With the popularity of YT videos, entrepreneurs found a new way to generate "royalties". Then throw shade on the guy for being non specific on "what to do" or "when to do it".
Pretty much everything in this vid says use cash flow to buy assets. Even has the same definition of "assets" that Kiosaki introduced 20 years ago.
💯 agree on your comment. This is great information!
@@TobyMathis. P😊
I’m pretty young and just started my portfolio with around $80K. Dividends drew me in right away! Slowly trying to create significant passive income and manage my Stock Portfolio. how do I invest to deal with markets ups & downs
It's wise to seek expert assistance when beginning your financial portfolio. market is volatile, so professional guidance is so important..
Having an investment advisor is the best approach to the stock market right now. I was going solo without much success until my wife introduced me to an advisor. I've achieved over 80% capital growth this year, excluding dividends.
Hey friend, How can I work with your Fiduciary?
*Marissa Lynn Babula* is the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment..
Searched the web and saw her profile and accreditations, someone with great experience I must say, thanks!
The fact that nobody talks about the book whispers of manifestation on borlest speaks volumes about how people are stuck in a trance
This same exact comment word for word was on another video on rental property 🤨
I have no idea what he is trying to say @clootscalhoun9481
Giving was the one aspect I missed for 30 years of growing wealth. It changes EVERYTHING when you do it. It's written into the universe somehow.
I love it!
Thank you
agree
Messenger of Allah (PBUH) said, "Wealth is not diminished by giving (in charity). Allah augments the honour of one who forgives; and one who displays humbleness towards another seeking the pleasure of Allah, Allah exalts him in ranks." [Muslim]
That’s what the Bible states and it’s what the Jewish people had to bring to the Temple.
I live on $ 2000 a month as a single mother. No child support, so it looks like I'm going to need a few side hustles to do this, but at least now I have a plan. Thank you! 🎉
You can try to get a digital marketing certificate online. It may cost you about 50-100 dollars depends on your learning time. After you get the certificate you can looking for some really good side hustle. $20 to $30 per hour.
Good luck!
then what do you do with it?
From a fellow single mom with no support, you’re doing great by looking up these video. Those who seek, will find.
Opening a high yield savings account or money market account at the minimum both are free and you get compound interest on your own money saved for life
Toby I’m from London England, about to retire. Made loads of mistakes financially over my life. I know when I see a decent straight talking guy. You are dynamite my friend. Thank you so very very much. I have read books, searched to learn. You just smashed it wide open. Wishing you well Toby, keep doing this, the ordinary slogger guys and girls need you.
If you need some market tips i suggest you get in touch with Laura Grcae Abels
I recommend researching her further on the web, she's well established with over two decades of experience in her line of work.
Not only is this great quality content, bu the fact that he is encouraging giving back in some sort of form, makes it exponentially better.
I'm not even going to lie, this was a very solid video. Step by step. Realistic. Solid, safe advice. No fancy steps besides some of the option talk. This strategy will see results. Good job!
This video should be required to watch by everyone in high school and quizzed on before graduation.
Thank you
“Rich people acquire assets. The poor and middle class acquire liabilities that they think are assets.” - Robert Kiyosaki
True but this guy has outdated advice. Everytime I listen to him in an interview my brain cells jump of a bridge.
How do?
@@Azrael-h8e have you not heard the crazy stuff he says all the time? His call flow stuff is good everything else is garbage
how do you borrow from your stock investments?
RK tells people to do illegal stuff half the time.
Im fortunate enough to be 20 years old and still living at home. This enables me to save about 80% of what I make a year (about $24,000 aud). With the 80% I save I invest 60% into the stock market (mainly index funds) and use the other 20% to pay off my student loans. I want to get into property by the time I’m 25 so my goal is to sell some of my shares and put a deposit on a house soon.
Great goal and Idea, however rather than selling your stocks I recommend reducing your stock allocation from the 60% to 40% - 45% and put the 10%-15% into a high yield savings account averaging 3%-4% to start a real estate investing fund. Selling your stocks should be a last minute resort because the Dividends you are/will be receiving from your Index funds will really start to compound after your 5 year mark. Selling would reduce that great nest AND you could leverage that nest to purchase more Index fund shares during a big downturn. Lastly when you purchase a home using an FHA loan it only requires 3%-5% down payment + fees & fees.
Keep Up the good work young man.
@@WealthyBrainYT I've changed my strategy a bit since I wrote my last comment. Im still saving 80% of my income, 50% of it goes into stocks and I just save the other 30%. The last 20% I use to pay my daily expenses. I've decided not to manually pay my student loans, here in Australia we get interest free government loans which are automatically paid off proportionate to your salary. My money will go a lot further in stocks than it would paying off my loans. I also don't really see a point in buying a house, would rather rent and put the money I'm saving from a mortgage into stocks.
Purchase real estate to rent out. Purchase at a price that will have the rents pay all the expenses and put dollars in your pocket also. Additionally, the home will appreciate in value over time. Win/win.
Live at home as long as you can and continue investing. Sure, contribute to the household, but stay. Some people will laugh, but years down the road, you will run into them and see that they are still slaving away while you are sitting golden.
Real estate investing is the bomb, I love it. I try to talk everyone into it because it has such incredible power to supercharge your net worth. I think professionals who are stalled out in their career income (like teachers, pastors, nurses, etc) should really jump into real estate so they can supplement their current income and build real retirement income. And they can become millionaires even if they don't have a lot of cash to invest. I know because I've done it! You can too!
This is Gold🏆 . Something schools will never teach.
Thanks , already have a stock portfolio bringing me cash flow
That’s what UA-cam is for!😂 Seriously, our districts teach finance in elementary, middle, high school. So you should have a discussion with your local board members to change your district’s curriculum.
My public school taught me about the basics of economics and investing. But when they “taught” this my primary focus was on quick females (damn hormones). 15 years later I know better now and I am acting accordingly to slowly build generational wealth and be a better person.
He got the information from a book called rich dad poor dad. Go and read it, it change your life .
And when you are successful remember me .
Yes because they want us to be poor. To work all live.
Toby - you have made personal and investment finances understandable for the first time for me. Deep gratitude.
My father was serious about this except we lived off of a quarter of his pay. 😅 He was full of wisdom and despite passing away very young my mother has never had to work a day in her life due to how he invested. I'm so grateful for everything he taught me. This is great advice. I share advice I learned from my father and what my life experiences have taught me. Thank you for sharing your knowledge. It's a shame this isn't taught in school.
You father sounds like a very wise man. I appreciate you sharing. We need more like him. Sounds like his wisdom is being spread by his daughter though:-) Keep it up.
Thank you so much@@TobyMathis
My dad taught me " It doesn't matter how much you make, it's how much you save." By example, he sparked my interest in investing.
This free video gave me more value than anything I have purchased. Thank Toby!
Great to hear! Thank you for watching us!
If we continue getting videos like this one, parents will stop sending their children to college. Free, on to the point - informative, hands- on, self-employment within days, guaranteed success, no student loan, passive income, lots of free time, etc. Thank you, sir, for being what you are, selfless. You are on your way to becoming a legend.
I appreciate you :)
Brother- I 4:55 completely agree about giving. However it is giving because you want to give- that is the payback. Awesome advice- Thank you
This was very inspiring. Gets straight into the point right from the start about assets and liabilities. Also, I've never seen in any videos of this kind suggest "giving". I did it as a younger (and poorer) self, but my obsession with money gradually led me to neglect it. Thank you for reminding me.
This was by far the best and most straight to the point lesson on financial success. I truly appreciate having come across this video. No bu***t, just plain facts and super easy structured. A big thank you, this is public service ❤
I really love this explanation on how to properly structure your finances for wealth. Its not get rich quick, but is a gradual process to building wealth!!
I LOVE what you said about charity/being of service to others. I feel like few people in your field would underline that so pointedly, kudos to you.
Wow this is gold, thank you so much ! I was recently blessed with a job that pays me six figures and I can honestly live with half of my salary so for the first time ever I have the opportunity to truly invest and accumulate wealth, I blew a lot of money on expensive cars when I was younger but I wasn’t ready for this kind of wisdom and maturity back then, today I’m 41 and I’m more ready than ever, the universe works in mysterious ways and everything happens at the right time, thank you again and god bless you all!
Absolutely loved the giving part (it's a big source of personal happiness). Would have never expected to find it in a video about passive income, but absolutely loved it. I specially agree on that point. And the whole video, actually.
That stuck out to me too. I'm an Evangelical Christian, and believe very much in giving. However I listened to Robert Kiyosaki who is not, but he also emphasized how important that was. To me it seems interesting that even in the secular world, they are finding the benefits of giving.
I also loved this message on giving in the context of financial education. Giving’s reward is a promise from Jesus Christ, The Trustworthy One.
I respectfully disagree with you. I'm not against giving but it doesn't have to be money. You can give in other ways such as volunteering at schools, hospitals, etc. I've volunteered for over 23 years in different capacities, it was a source of personal happiness for me. I don't have to give my money away to anybody to make me feel good about myself. Just my personal opinion.
@@c17airborne I don't need it to feel better, either, really not. When I give money to someone who is going through a rough patch, or to help some cause, I actually do it to help those people. I have also volunteered with my time and skills. But one thing to be considered is that people having very heavy/busy activity (in professional and/or family matters), what can't provide with is time, while they can help with money, and that helps, too. Each situation is different, I think both ways help a lot, whether one does one or the other, or both.
But my statement about 'giving' being a great source of happiness was indeed in a *much* wider and deeper sense than just money related, and mostly about the people around you (family, friends, couple, colleagues, neighbors, etc). Most of the time not with money, but time, understanding, advice.. help, in one word, whatever you see that person needs. Sometimes it is just about being kind enough. Producing others' happiness gives in my opinion pure, real happiness, in an exponential growth of it: at the beginning, not noticeable _at all_ , just like when you start going to the gym (so, like that, and mostly everything in life, is a game of patience), but it gets to be a reality when it becomes your way of doing after some months/years. My 2c.
Text for further information on how to make money from bitcoin I made up to $65,750 a day
You are actually saying useful things. There's a lot of videos where people talk about things like that but they never actually get into the steps
This is awesome. 50 y/o and started doing everything you had recommended about 20 yrs ago. Very true about generosity and charitable giving. Also have 5 types on income plus...Cash flow business. Great work/Great advice. Twenties in school and training until 33y/o, lived off ramen, mac and cheese for 10 yrs. Started at 33 yo - zero net worth. Now near 8 figures.
Congratulations on your results.
What are 5 types of income you recommend?
This guy is such an angel...may your firm win tones if landmark cases....
Transfer of wealth usually occur during market crash, so the more stocks drop, the more I buy, in the meanwhile I'm just focused on making better investments and earning more as recession fear increases, apparently there are strategies to 3x gains in this present market cos I read of someone that pulled a profit of $350k within 6months, and it would really help if you could make a video covering these strategies.
I agree, I've been in constant touch with a Financial Analyst for approximately 8 months. You know, these days it's really easy to buy into trending stocks, but the task is determining when to sell or keep. That's where my manager comes in, to help me with entry and exit points in the industries I'm engaged in. Can’t say I regret it, I’m 40% up in profits just in 5months with my initial capital of $160k
As a private investor I like investing in close -end funds that pay monthly dividends;
IGD-That invests in stocks & covered call options.
NRO-That invests in real estate & reits.
MGF-That invests in government treasury futures, notes & bonds.
CMU-That invests in tax exempt municipal bonds.
And,
NCZ-That invests in convertible securities like bonds and prefered stock.
I also like investing in PSEC.
It's a business development company that pays a monthly dividend.😊
You're advice about giving is 100% correct. Doors will open that will blow your mind and people will begin to ask "why is that guy so darn lucky"?!😇💯
The amount of knowledge we get listening to you is mindblowing. Thank you
Love" live within your means" too many people confuse wants vs needs. I have only bought a new car once. I am proud to drive a used car knowing I am putting my money into assets instead a car payments . Great video.
"If you use it, buy it"....Great advice that I heard years ago, but took too long to start following it.
Toby, you bring so much light to the world of investing and money management. I love the way you break it all down into manageable chunks. This is my 3rd time watching this video and I glean something new each time. Love the content!
Thank you!
@@TobyMathis 😘🥰😍LOVE THIS Video & Love You Toby For Doing THIS Video📸 This Is Awesome👍 AMAN Aman AMAN Aman 🙏🙃🌹 I've Been Tell Some People That WE Need To Have a Group & Each One Learn A Piece of Financial Literacy & WE Come Together In a Show&Tell•Manor....!!!! EACH•One•TEACH•One Working TOGETHER In-Order Too Overcome Like•Minded People Achieving Financial FREEDOM ‼️‼️‼️❣️❣️❣️ WOW 😳 a Beautiful Thing!!!!
Sir Toby, I'm Going To Share This😘🥰😍 Thanks Dearly❣️
I find myself going back and re-watching this video for inspiration. Excellent content. No distractions. Good luck to everyone following this formula. It will work if you do NOT quit.
I am only a few minutes into your presentation and I had to comment that I love your ethos about giving/donating if not money then time and skills. This opens up so many amazing opportunities and friendships. Not bible thumping but to paraphrase- seek ye first the kingdom of God (good?) and all these things shall be added onto you. Practically every faith system in the world echoes this sentiment. B blessed! xxx
You are so spot on. I’ve been following this strategy for a decade… I sleep so well at night knowing my future is secure. keep up the good work!
You are 100% right about the power of giving.
Toby is my daily must watch youtube guru now! Love all the content. I close $500M commercial real estate deals a year, I am still learning every aspect of how to save taxes on real estate😊
Thank you so much for your kind words. I'm glad the content is helping you in your real estate journey.
I have never seen such a great explanation, with concrete examples, of how to build passive income. Thank you Toby, a wholehearted thank you, and big thumbs-up, of course.
Thank you Randy for staying true to your people, all politicians envy you for your good hearted braveness!
Liquid gold! Where have you been all of my life? Thank you Toby for sharing this knowledge!! ❤
This is great and solid life advice. That said when something like The Great Recession comes and you lose your job, all your real estate, have your accounts confiscated, and are stuck with a huge tax bill and school loans even after bankruptcy then good luck. Nothing will convince your family to save and invest. Nothing.
I am a complete novice to all this investment stuff, and I understood almost everything. Thank you!
"Love of money is the root of all evil", is the whole quote, makes a difference....
Great info, thx
I appreciate your support.
Clearly trying to produce lots of income. But not obsessed with wealth as the end all be all of life. Sometimes enough is enough.
Giving and donating time has always been part of my life but never considered it part of my investment thesis. What a refreshingly simplified perspective on investing for the future. Following for sure. ❤
Newbie here, newbie to your videos anyway. Love what you're posting. I already did what you are teaching. I'm currently now debt free. Home is paid off, no loans, no credit card debt. Have 401K being managed by a financial advisor. Playing a little with stock market. Interested in buying assets that produce income.
It's nice to see a video like this from some who seems to actually know what they're talking about for a change.
I just wanted to commend you and thank you. As a 55yo I have heard the value /importance of giving presented every time in regards to financial planning or budgeting. Some times as an afterthought and others as the central point.
And I agree with that all day as life continues to prove we get what we put out. Yet, giving is so low on my priority list it has zero weight with no room for future expansion due to the long line of things ahead of that I believe are under funded.
You made the topic important by allocating time to it. More than most. You pointed out how resources can be assigned in a few ways to so as to include everyone, while showing empathy even if nothing is being allocated currently to giving, then invested extra time in highlighting the multiple benefits.
Thank you for that. You managed to make a crack in the foundation I’ve built and been reinforcing for decades large enough for me to realize it’s futile to restore it. My only option is to replace it.
Thanks!
Thanks for the super thanks!
watched this video 2 times now and I will watch this one again, like a religion, this is a way of life, that I need to keep reminding myself of. Thank you and I have already recommend your video to others!
Hi Abbi, thank you for watching our content!
I am guessing you want to put another $50k into managed money? I am 55+ years old and have zero, i mean, zero money. I am living paycheck to paycheck. I was just hired for a job that pays into six figures. Love this idea!!!!! Luckily, I do not have much debt and will follow this. So, I will do this with the goal of putting $50k into the three 30%'s over the next three years. And yes, do the 10% of this as well. I am motivated again to try one last time to get a head. Thank you for posting and giving and donating your time to this.
Thanks a lot, I've always wanted to give back but didn't know how to because of my financial situation. When you said give back with your time, it got me thinking and then I ended up doing some research. Here in Alabama, you can "adopt a mile" where you keep the mile on a highway/county road free of litter/trash. It's something that always stood out to me (I've seen others doing it), so I'm going to give it a shot 👍
This is the first channel talking on this subject that I don't think I bullshit.
“Time in the market is better than timing the market”!!!
Love the 70/30 rule. Jim Rohn talked about this too. He recommended the original idea which comes from the book "The Richest Man in Babylon." It's a excellent read, written in story form at an 8th grade reading level. You can knock it out in an afternoon. It was actually translated from ancient clay tablets that are thousands of years old. The best advice is simple. Read it.
This is the most succinct explanation of developing a wealth portfolio I have heard. I have been watching others on the platform and they say the same thing but this right here "bestest", clearest, easiest to understand and implement. Thank you 🙂 👍🏾
Toby. You gave the magic ticket when you said, “Sell everything that’s not nailed to the floor” I’m sure most of us in America can look around and sell 3,4,5 thousand sometimes more in our home. Drop that in an investment account if you are living check to check
I’ve been looking into investing for a couple of months now. I came across you and I am excited now!! You explanation and guidance is what my soul was searching for! Thank you! I have subscribed and will be watching your channel. I am also sharing this video in particular.
Love it Toby! One thing I do instead of managed money is I look at well-performing mutual funds or ETFs and steal their ideas for good stock picks. Also, as a news junkie, I get ideas just from watching news stories, not necessarily financial news. I'd like to get involved in other asset classes but I'm not an accredited investor (yet).
Really love the part about putting the 10% giving as priority before everything else. The world needs more of this !❤
This is the most difficult principle for people to embrace. I’m working on a hybrid split model between money and time.
I'm glad you resonated with the idea of prioritizing giving. It's definitely something I believe can make a positive impact in the world.
I just showed this video to my daughter(16 years old) she’ll learn about how to manage her money.
Awesome! Hope she picks up some useful tips.
@@TobyMathis thank you 🙏
I sent this to both of my kids. The best financial video. Thank you
Thank you for sharing 👍
@@TobyMathis Can you help me? I have a real mess.
I made an appointment with Anderson Advisor and the online workshop.
I listen and watch TONS of investment advice videos on UA-cam. This was great! The leverage advice is something new to me. Instant sub here!! Thank you Toby
Well.
Last year was great.
12 weeks vacation
Net from real estate 20k
Salary 50k
Farming broke even 😂
Bonuses 150k
Business net 250k
Spending 40k
Hope I repeat this many many years...
Finally, a plan that resonates with me. We're debt free and have a rental in California that we own out right. Thanks to Prop 13, the property taxes are low. I really need to put that equity to work but I hate debt and don't trust California politicians. They're likely to impose a rent moratorium on single family dwellings during a recession or depression.
Good point. How do you plan for those contingencys? A lot of investors I work for park their money in Texas, a Red state. With all the appreciation of your property have you thought of selling and doing a 1031 exchange?
Giant, huge in flows from three places New York, California and Washington, more specifically Seattle.
Thank you Mathis for providing truths of becoming an secret agent of the game of riches
Great wisdom! Thank you not only for excellent tax advice and also great life lessons!❤
Thank you for watching!
You are right about the REITS stocks. They are even better in terms of paying the dividends as the REITS are obligated to pay out 90% of their profits as dividends secured by law, while the normal aristocrat stocks can cut off in some phases. What do you think about the Tax Liens Certificates as an alternative to REITS investing?
Full knowledge. No BS. Peak quality content. W.
If only I had the knowledge back then to buy what we were using when no one else was using it. We were using Google in 1998, Amazon in 2002 & Netflix in 2005. I felt like they were great ideas back then which is why we started using them, but never knew about investing. A very sad case of missed wealth.
You obviously have a good knack for seeing what's up and coming. Perhaps you can apply it to the next big thing that you find yourself using 😀
@@stellaeze7701 I know right!!
I am not rich. I am just a simple person on the street of Bougainville Island, PNG.
I find such material to help me how to build my riches. appreciate it 🙏
Thanks for the support!
Great content Toby. Question on rule #2, you are saying to get each bucket up to 50k or divide our 30% into the 4 buckets proportionally? At $270/mo it will take quite a bit of time for it to get to 50k
I had the same question
Apologies for the late response - it is $50k per step in order - just make sure 10% is always going into the cash bucket. Only after you are above $150k or so do you need to worry about the percentage allocation. I hope this helps:-) Best of luck.
Toby, yours is a wonderful presentation full of financial wisdom. I wish I had learned this in my 20’s…!
This is super awesome and makes it simple! Question - what about a 401-k that locks you into funds? I want to manage stocks on my own, but don’t want to miss the free money on the 3/1 match!
Many plans allow you to tranfer vested funds once each year to an IRA. Keep the sweet match. No tax or penalty since they are both tax deferred. You will have 60 days to complete the transaction---OR ELSE. You'll get a 1099 to report. I did it some years ago and it was easy. If they are both at say Fidelity, there may be a direct method but I haven't looked.
almost didn't click on this video cuz it sounded like clickbait. instead i find some real solid, grounded advice.
Finally, an amazing video with great values and lessons. This matches everything my mentors and parents taught me plus a bunch more. Thank you for the video 👏
This is by far the best financial advice i have ever gotten
I appreciate your comment!
Mr. Mathis, this was excellent information. I appreciate the insight. Please keep it coming!
What a wonderful explanation of 10% giving. I just vaguely knew that giving brings blessing. Your words once again encourage me to give.
Thank you Toby. I wished I had learned this 20 years ago (what everyone says). I appreciate the content and education.
👋 I 2nd that...
Glad it was helpful!
Not too late to make a positive future
Everybody out there- Mr. Mathis is right! 31:55 I made the mistake of selling my 2 rental properties and now I'm regretting it.. I took a tax beating from the government, and now I have to work hard to get back to even.
Best video on this topic I’ve ever seen. Thank you for sharing your wisdom freely!
Wow, what a wealth of information in this video, Toby Mathis! You really know how to engage your audience with your passion for financial literacy. Your 7030 rule is an excellent starting point for anyone looking to build a passive income empire. And the fact that you are a tax attorney only adds to the credibility of your advice. I love the trend you noticed about giving and paying down debt among the ultra wealthy, it's great to see that generosity and financial responsibility go hand in hand. Your take on debt as a liability and assets as a source of passive income is spot on. Can't wait to hear more about your five infinity income types and what the next step will be!
Wow! Thank you! Glad you enjoyed it!
Toby Mathis comes across as inherently trustworthy and believable. Great channel.
Thank you for your kind words!
Thank you for sharing. The most realistuc and straight up advice. Not conplicated and very simple to follow. The main thing is increase your income so you have extra money to start investing. There is a border line income so you will be able to live comfortably and then extra income can be use for investing.
Don't know where to start but really appreciate the information on your videos. You put the information out there so the go getters can have access to it. Strong wk💪
Good topic and well explained. I read a book over 30 years ago and the one thing the author kept saying was "Pay yourself first". Basically this was your savings/investing. As you said, take 10% and this goes to your investing, then you have to pay your bills, and if any money is left over you can do whatever you want with it because you have already paid yourself first.
"If these video classes were mandatory in schools, the new generation of America would have much more financial education than we currently have, and there wouldn't be as many economic problems as there are now!
you cant bet honesty, a great video by a honest man. I thank you.
I would switch around the dividend purchases and put the first 50k in the REITs. Your snowball will build much faster with 6-10% yields than with 2-4% yields.
I cannot afford to fund 50k in each successively, I'm thinking to fund each with $1k to start and add to them each month.
@@jackjones1727 The point is that you fund the higher yield divs first which will generate more cash flow. If you do both at the same time you will dilute your yield.
Why REIT and not index fund. Is it because REIT less risky
i am 24th and to me you are my eyes opener. i mean i went to school, uni and graduated but why did not they teach us these things over the years now feels like i wasted my time. thank you for the knowledge through videos making things very clear.
Great content! I had been keeping a disproportionate amount in my businesses. You capital allocation and tax strategies are just the kind of content I enjoy consuming. Going to trim some of my growth stocks for a higher allocation of dividend aristocrats and REITs. Sadly, just this year starting to get into private allocations, etc. Thanks for the excellent content and keep it up!
Thank you for watching!
Great content
Toby you are fabulous ❤ / I’m mortgage free , but the condo has carrying costs - I’m retired / real estate values are up - should I be looking for other alternatives ?