🏦 Earn up to 4.00% APY on this Bank Account: sofi.com/nateobrien Get 10 FREE Stocks on Moomoo: nateobrien.me/Moomoo (Valued up to $3,500, offer subject to change. Note: I may receive a small commission when you sign up using my link, this helps keep our videos free!)
Well, this video has some good tipps in it. But there's also alot of stupid advise in here. Especially when it comes to the worth of money. There are so much more valuable things in life than money, i hope that you will understand that one day. The point with the emergency fund is a good point. But nobody should have stress because of finances. That's a different issue. The problem is not the finances in that case, it's how dependend you made yourself of them. They are just a tool. But anybody can live without them too. It's not necessary for living, even though you did say it would be, but it's not. I know people who live very happy without ANY money. Happiness NEVER comes from or through money. Find the truth man. Jesus is the way, the truth and the life. Hope you'll find that helpfull and i hope it sets you FREE. Since it's not free to think you would need to have money. But it's free to know and to understand that you could also go without any money and still live happy. : ) Cause GOD is the one who provides you with all you need. That's the truth. So why don't you talk about investing a bit of your income into the church of jesus?
if the idea is to build an income stream to use as complement for retirement, or at any given point if needed, then building a dividend growth portfolio always buying adding to it could be a good and peaceful path. On the long run consistency and perseverance could guaranty the desired income stream goal with little worries
the idea is to Look for stocks that have paid steady, increasing dividends for years (or decades), and have not cut their dividends even during recessions.
Well said, with the help of the an investment advi-sor, I diversified my 62K portfolio across many markets and in a matter of months, I was able to produce over 356K in net profit from high dividend yield equities, bonds, and exchange-traded funds (ETFs).
wow massive gains! my partner recently hinted on going same direction.. what did you invest in, and who is your investment advisr please, if you dont mind me asking? in dire need of asset allocation
Thank you for this tip. It was easy to find your coach. Did my due diligence on her before scheduling a phone call with her. She seems proficient considering her resume.
At 42, I've come to realize that money is a tool. I’ve worked so hard over the years to realize that if you don’t make money work for you, you can’t experience true freedom. I’m glad I found that out although it was later in life, but that marked the turning point in my finances.
I'm in my mid 30’s. Once I get paid, I begin to spend on irrelevant things. I work hard for my money, so I believe I can spend it on what I like. The older I get, the more my perspective shifts. I want to take my finances into consideration and put myself in order before it's too late. How are you doing it, Sir?
For me, as someone who has lived through the 9-5, what comes to mind first is the safety of my funds, With the help of a pro financial advisor, W Jonas, I’ve gotten into stocks, splitting my funds in different assets that have brought me huge roi. I just reinvest and grow my portfolio.
I appreciate the feedback. I reached out to him via the mail you provided and we talked at length. I found him to be verified. I’m glad that I signed up and I've begun my journey with him. Thanks again.
Herman’s ability to identify undervalued companies and spot market trends early has significantly enhanced my investment returns. I couldn't be happier with the results.
I am regretting not investing in stocks ever since but still grateful i kept money in the money market. With about $200k maturing soon, i plan investing in the stock market. What stocks should I look into as a newbie to safely grow my money
You should look at energy stocks , they look to be the biggest beneficiaries of AI and Data centers , also DCAing into a good ETF too ...Prioritize patience and a long-term perspective most importantly consider financial advisory for informed buying and selling decisions.
It's wise to stay proactive and diversify assets to manage risks during uncertain times. I’ve delegated my financial management to a consultant after facing a major downturn in late 2019 during the COVID outbreak. Today, I'm semi-retired and about 25% short of my $1 million retirement target after making additional contributions.
This is definitely considerable! think you could suggest any professional/advisors i can get on the phone with? i'm in dire need of proper portfoIlo allocation
"Laurelyn Gross Pohlmeier," a well-known authority in this field. I would recommend looking into her credentials more because she has a great deal of expertise and is a great resource for anybody looking for advice on how to navigate the financial market.
1. Retirement account 401k/403b account, ~15% 2. Checking account 3. Necessities; food, shelter, transportation, healthcare, utilities 4. Emergency fund; ~$2,500 liquid and easily accessible, higher if you have a family 5. Debt payoff- snowball method or avalanche 6. Save 4-8 months of payroll; options- online savings or money market 7. Investments; example real estate, bonds, stock market
I taught my children how to manage money. (savings, retirement plan, the difference between a want and a need, etc) My teachings have paid off and I am so glad I took that time with them:-)
Gail Hawkins....so wise of you. You did the best thing ever for your children!!!!! Algebra, trig....just how many of us EVER use that? Every day living survival....NO ONE teaches that, the very basic of what we ALL NEED! Your comment puts a smile in my heart!!!!
trained killer...you bet they will & DO what you are taught. Credit will destroy your life & you will never get anyplace if you try to do it with credit! NEED what you spend your money on!!!!!!! (possibly change your name...it's a horrible thought)
Youre so lucky that in current times its so easy to found that type of knowledge. I feel bad that in my school times, there wasnt anything that will teach us anything about finance.
Once you've established a solid savings routine, focus on cultivating a disciplined investment mindset. Investing is 5% intellect and 95% temperament. It requires patience, persistence, and the ability to hold on when you're bored or tempted to make impulsive decisions. By combining good saving habits with a strong investment temperament, you'll be well on your way to achieving financial success.
Nobody knows anything, About on how you save, you need to create your own process, manage risk and stick to the plan, through thick or thin while also continuously learning from mistakes and improving.
Having an investment adviser is the best way to go about the market right now, especially for near-retirees, I've been in touch with a coach for a while now mostly cause I lack the depth knowledge and mental fortitude to deal with these savings issues and settling, I netted over $220K during this dip, that made it clear there's more to the market that we average joes don't know
Real facts, the fin market might be broad and complicated, but if you do know what you’re doing, it can also be very rewarding. Thus, u have money to save..
I’ve actually been looking into advisors lately, the news I’ve been seeing in the market hasn’t been so encouraging and I could really use some guide, but are they really that effective though?
Big Credits to Rebecca Noblett Roberts she has a web presence, so you can simply search for, there are some others but it might be difficult to get them, but Sonya has been a good guide through the year.
I’m telling you, having that 4-8 month payroll is worth everything in gold! I lost my job and had started searching for new ones that fit my needs. Took about 2 months. My payroll fund had me covered no problem. Not having to worry AT ALL about how you’ll pay your bills is a god send and I recommend EVERYONE do this as well. Looking for a new job almost felt like a short vacation haha I was able to take my time finding the right job for me rather than taking what was available to start paying the bills. Thank you for sharing this information, a lot of people could use it myself included.
Hey just saw your comment...idk are you willing to answer but how did you create that 4-8 months payroll? What percentage of your paycheck did you put in online savings? Did you put that percentage of every paycheck or just once? I'm an 18-year-old and trying to figure out money management, your help will be much appreciated. Thanks
@@ivanjaman5525 every case is by individual circumstance such as I was a truck driver so I was able to save on rent and most bills one would have to pay being local such as having a car/insurance so I didn’t have many expenses. I was able to save majority of my paychecks. What I would recommend is write down a list of all your spending. From bills, to food, to entertainment etc. Once you have that down, come up with a goal. What is the amount of money you would like saved by year’s end? And if not a money goal, just save a percentage of your paycheck you feel most comfortable saving. So lets say 10% for example. After you reach your total for monthly expenses, take out 10% of the remainder and throw that in your savings and the rest will be spending money or you can save that too if you don’t want to spend it. You might want to start off your savings percentage a little higher to also build your safety cushion such as if you want to have $2,000 as a safety net. Once you hit your cushion goal, decrease the amount for your overall saving goals. Also, if your company offers 401k i recommend investing into that at the highest percentage they allow you too which is usually between 1-5% of your pay. It might seem annoying or a lot of money to save at the beginning but once your have that initial start, the snowball effect is insane. Before you realize it youll have so much money saved along with your safety cushion for emergencies like i spoke on. You’ll 100% breathe easier and that in itself self is priceless. Im happy to hear a 18 year old is trying to better invest their money, I wish I was that smart at your age. Keep at it brother, you’ll definitely be in a better place! Also, don’t put yourself down if you spent a little more than you wanted or didnt save enough that one month! That’s totally okay man, no one is perfect! As long as you hop back on the saddle and keep striving towards your goals is all that matters! Best of luck!
Yes I agree I hear 6 month of living expenses but I'm in favor of a 6 month to 1 year of pay checks saved up. Not been easy for me late started . But paying myself first is helping the most
Emergency fund is so important! Most people get in debt because they don’t have an emergency fund and are forced to take a loan out to cover an emergency expense.
Most people don't put in the effort to build an emergency fund. The amount of people I see at the tavern, drinking and smoking (both brands), yet bitching about how broke they are, amazes me.
Simple Finance so true an emergency fund is important! After watching Dave Ramsey’s videos I decided to start a goal to establish a 1,000$ emergency fund. I thought it would take 3 months to establish. It should only take 2 months to establish.
Stylish America is still a newly founded country in comparison to German and many older countries. I strongly feel that the US is much more capitalistic than other countries.
As a retired teacher, I can honestly say that this and other life skills isn't taught in our schools, which is unfortunate. This is good info for everyone. Thanks for doing this.
Thanks Norman, my school did not offer personal finance classes. I hope that one day schools will require personal finance class as they do with other subjects
Nate I started watching your videos 3 months ago and I had 45 dollars and my checking account applying some this advices i opened couple savings accounts and I have 5k dollars and my finances under control. now I getting ready to start investing in market stock .... nate thank you your doing a great job
dylan F.A. Wonderful!!!! I did it all wrong & it took me forever to learn to "live within my means". Your life gets better & better as the years go by IF you do learn to live within your means. Our means is not always very good when we start out in life, but it gets better & better as the years go by! Some things he MAY be a little off on, but....he has good advice & IF you listen, you will do well! You make my heart smile to hear your comment! smiles!!!!!!!!!!!!!!!!!!!
Been paying off credit card debt. Credit score went up 78 pts due to credit utilization. Savings account getting healthier. Started 401k. Thanks Nate! I feel in control now
Old Skool UK Garage he said chicks. paying for your girlfriend is obviously going to be different. especially if she truly loves you and you love her bc she ain’t sucking your money and using you like some other girls would. ya feel
Saiga Legacy....OMG what a good idea (if a person can work two jobs). If I could just start over knowing what I know now!!!!! You are wise!!!! I have been going down reading peoples replies & so many are getting the point of what he is saying. With years of bad experience my word is....live within your means & your means get better as time goes by! If you choose debt (credit cards) you will never have anything but debt!!!! Hopeless, endless debt!!!! I was old before I figured this out! If it takes borrowing & credit cards to "get by", then you are living above your means! You are just so intelligent to choose the financial path you have!!!!!! You make me happy to read your idea!!!!!!
Probably biggest takeaway from this video: 16:30 you have to run yourself like a business. I think once people understand that they are their own life manager they might consider not spending their money on the newest iPhone every single year.
I'm my life manager. I have my phone since October 2017, it's a Samsung J3 📱😁😁. the price was 199€ and I hope that I will be able to use it untill 3 more years
Dhukino...learn to live within your means & your means get better as time goes by IF you stay out of debt. So wonderful that so many people are getting what they should out of his video...so many people are so busy "putting him down" they miss the point! Bravo!!!!!!!!!!!!!!!!!!!
I m in hospital and decided when I get out, I am purging my entire life, living as a full blown minimalist, and following all your instructions, and having my own business
Nate I was a retirement planner and I started when I was 20. You are the most focused guy your age that I have ever met in 42 years. You must have had some one in your life that guided you in the right direction. Your knowledge blows me away .
In addition to being an important topic for all, the delivery had an extra bang with the 'flip chart'. Listening is not always hearing, especially in a rapid fire presentation; but Listening & Seeing has greater Impact (like two knocks to the head). Well done. $$$$$
If you need to slow it down to process the information, touch the three dots on the upper right corner; a drop down screen will appear, choose Playback Speed, .75 should do the trick.
I am concerned about the impact of rising prices on my plans to retire at 62 and build savings. I wonder if individuals who experienced the 2008 financial crisis found it less challenging than my current situation. The stock market's volatility, combined with a reduced income is causing anxiety about having enough for retirement.
Consider investing in stocks especially during a recession. While recessions can be tough, they can also offer good chances to buy low and sell high in the markets if you're cautious. Just remember, this is not financial advice, but it's a good time to think about buying stocks since having cash on hand isn't always the best option.
I admire the financial independence of people, But you can live better if you work a little more. After watching this I think there are people out there, on the extreme, who plan to die early just to be able to retire early. To each their own but to me, retirement isn't just about not having to work, it's about having the freedom to do whatever you might reasonably want, such as travel, buying things, enjoying life, etc. I don't think I could retire with less than $3m in income-generating investments, maybe $2m at the very minimum. I plan to work until I'm at least 45
Nobody knows anything, you need to create your own process, manage risk and stick to the plan, through thick or thin while also continuously learning from mistakes and improving
@@MaryPatricia-wr3wj Having an investment adviser is the best way to go about the market right now, especially for near-retirees, I've been in touch with a coach for a while now mostly cause I lack the depth knowledge and mental fortitude to deal with these recurring market conditions, I netted over $220K during this dip, that made it clear there's more to the market that we avg joes don't know
The best way for me, to add to my emergency fund/savings, has been transferring whatever is left at the end of the month and in a sense "starting over" each month. Works very well.
Great move.. I'm doing that, but putting some of the extra into a Roth too. Roth grows tax free forever, plus I grabbed a couple of Tesla shares a few months ago.
Nate is a rare gem for his age, especially when it comes to practical financial wisdom. I'm in my 60s and so glad I practiced fiscal responsibility from my youth up to the present. Don't just watch this video, put it into practice NOW.
Francesca Venasio...wise girl! At first maybe you won't be able to do ALL of his advice, but keep working at it...it will all fall into place. Live within your means, need what you buy, never use credit...NEVER!!
Can I ask you for an honest reply ? Is this training easier for you to accept from him, or would you have also been so receptive if your parents taught you these principles ?
Important points for the debt repayment: You pay the minimum balance on all debts but extra money goes toward paying off the lowest balance or highest interest rate. Once that's paid off, you apply the amount you had been paying for that targeted debt to the next targeted debt. That's how things snowball/avalanche; as debts get paid off, the other debts can be paid off in larger amounts so things build up over time.
One thing he didn't mention with the debt snowball is to, once you've eliminated that first debt, roll that payment amount over onto the next largest balance. Basically, pay as much as you can toward the smallest balance. Once that first balance is gone, you have that left over cash flow you can apply to the next highest balance.
I love these tips. I used the snowball method to pay off my car, personal loan, and iPhone this year! Each small thing I paid off, I put that exact amount into the next smallest debt payment. I only have my credit card and student loans left and I’ve built up my savings account slowly this year too. I love the advice about having the emergency fund in a checking account. Thanks Nate!
The number one reason people are poor is because of this thing called "instant gratification". If they can delay gratification, they will be rich period.
Skimping on "instant gratification" also defies the whole purpose of getting rich. People want to get rich so that they can instantly gratify themselves at any time they want. The hard part in becoming rich is that you have to sacrifice the very thing you ultimately want to achieve and for that reason it doesn't make much sense for most people.
That's completely true for Middle Class people living paycheck to paycheck. That is not at all applicable for people who don't make enough money to even cover step 1 and buy enough food to survive and pay rent on a crummy studio with cockroaches in the bad part of town, which is true of many Americans.
its fair to save money for interest but its not advisable you put a total 100% into savings. i will say you put your money to work, is always necessary to invest so as to multiply income.
@@alanbalinski5655 Stocks, Mutual funds, Options. and the Forex market. Forex can be a very good lnvestment compared to stocks. The advantage of a forex lnvestment is that the trader is using leverage. to potentiaI lnvestors Forex is a good way to make a nlce ROI most specially with the help of a professionaI portfoIio manager
i'm a profitabIe Forex Trader. I'm not a billionaire but I'm making stable profit every month. l started to learn Forex when I was 19 years old. And practice a lot opening BUY/SELL orders on demo accounts
Budgets are fine, but those aren't really the answer. The real problem is that people are so obsessed with consumerism. People need to stop buying things on a whim. Shopping sales, eating out, buying starbucks, etc.
@Malishma Loi That would be great except for the fact that most families in America are in debt and also don’t know how to manage money. So teaching their kids what they know would only hurt more.
05/25/2021 @@mandie1456 Amen to that!! SOOO much of a family's spending is needlessly spent on pizza or some other fast food venue. That's just the beginning of unwise spending.😒
Retirement for some people becomes their bondage in poverty because they failed to invest with the little they have on their active years of working, this is an error we need to start working on now, I’ll advise that while you still can work and earn also take some money aside and invest in your future after retirement so this classification won’t have to be yours
To all the young people out there I did everything right saved, only spent on needs then in 2011 my body broke down (was flat on bed for 2 yrs)...all funds came into use especially the emergency fund first now at 47 broke but getting by....you do not know what could happen in the future so be careful
Even though this video is old, you have provided me with a significant amount of information I can use for years upon years. I appreciate it! To be honest, I was looking for ways to budget the money I had received from my job. Since I had watched your video while taking down some notes. I can say that I feel confident in the way I will plan for my future paycheques'.
I'm currently 17 years old and will be moving across the country by myself for school in less than a year. Your videos are making me way more comfortable with that idea!!!
The idea of investing a significant sum of money may be both thrilling and intimidating. There is potential for considerable wealth increase with the correct strategy. How can one take advantage of compound interest and potentially grow your retirement savings/net-worth to about $3M over time?
A solid strategy can be a key component of an investor’s portfolio. Well, the bigger the risk, the bigger the reward and such impeccable decisions are better guided by professionals.
Yes true,< I have been in touch with a financial advisor. With an initial starting reserve of $80k, my advisor chooses the entry and exit commands for my portfolio, which has grown to approximately $550k.>
There are a lot of independent advisors you might look into. But i work with Nicole Desiree Simon , and she is excellent. You could proceed with her if she satisfies your discretion. I endorse her
I just checked her up online, and I must admit that she has an extremely outstanding experience in investment. Thanks for sharing. I'm going to send her an email right away
I'm putting 10% into a Roth 401k, maxing out a Roth IRA, putting about another 6k into a regular brokerage account in other investments and the rest I'm just saving in cash hoping to eventually get a couple rental properties.
@@ーススペードのエ Considering a large number of people who get rich quick when they are young blow it all and end up broke lol The last thing I wanna worry about when I'm 80 is having enough money. I'll be a millionaire by 50 so it's not like I'll be that old lol I'll be able to enjoy it trust me.
Chris Wilson if you’re rich enough at a young age you won’t spend it all. If you have the discipline to invest to make a lot when you’re at that age you will still have the discipline with greater amounts of money but you will be able to have more leisure time in general because of that money
Jason Obioha...this is stuff I was never taught & had NO CLUE how to do. It all never occured to me until I was 58 (a little late). Now I have my "act together" but as an "old lady" am struggling (still) because I did not do as I should have when I was young. A person MUST live within their means, save even IF it's only $5.00 at first, & never, never use credit!!!! If you can't afford to pay cash, you don't need it! Credit...the devils advocate!!!!!!
I am 37 and I never learned how to manage my money properly. Thank you very much for these videos. You’re literally saving my life and improving the lives of my kids. I grew up in a very poor family and no one ever showed me how to save money. I don’t want my kids to go through the same thing.
It’s super hard especially when your healthcare takes over your financial situation. Sometimes I feel like I’m drowning just in medical bills and of course stress makes your health even worst !
The right investment can get you ahead in no time! Insightful video. I just want to know best how people split their pay, how much of it goes into savings, spendings or investments. I'm 27, and earn nothing less $150k per year, but nothing to show for it yet.
When people have money, they spend it. And some people spend more money when they have more of it. If you want to improve your financial management, you should consult with a financial advisor.
@@devereauxjnr A lot of folks downplay the role of advisors until being burnt by their own emotions. I remember couple summers back, after my lengthy divorce, I needed a good boost to help my business stay afloat, hence I researched for license advisors and came across someone of due diligence, helped a lot to grow my reserve notwithstanding inflation, from $275k to approx. $850k so far.
@@viewfromthehighchairr Nice, who is the Financial Advisor aiding you if this is not much i'm asking? my retirement plans are going down the drain with my 401k particularly losing everything it gained ever since 2021.
@@AlbertGReene-p8w My Financial Advisor is NICOLE DESIREE SIMON. I found her on a CNBC interview where she was featured and reached out to her afterwards.
@@viewfromthehighchairr She appears to be a true authority in her profession. I looked her up online and found her website, which I browsed and went through to learn more about her credentials, academic background, and career. She owes me a fiduciary duty to act in my best interests. I set up an appointment to use her services.
Glad to see you explained & separated the emergency fund, from the “payroll” savings, because unfortunately this distinction is sometimes overlooked. Liked the longer video-wouldn’t mind if they were longer, or even more frequently. I think you’re a great teacher. 💯👍
Hi, everytime I hear about emergency funds, people talk about saving around 6 months worth of your expenses, which is basically the "payroll" savings you're talking about. Why do you think it's necessary to have both? Thanks :)
@Maria Inês Pereira If you’re asking me, I personally think it’s important to have both because they’re used for two different types of emergencies. God forbid you have a sudden medical emergency that’s not completely covered by your insurance, and find yourself temporarily out of work while you recover. If you had an emergency fund, it could be used to help cover your medical expense, without depleting the money you’d need to support yourself while you’re out of work. That’s just one scenario, but this idea of needing to use two different funds back to back can occur. That’s why I personally think it’s a good idea to have two separate funds. Hope that helps Maria! 😊
@@mariainespereira142 so just giving my opinion here. Emergency Fund - Money that cannot and will not be touched for anything outside of a necessity no longer functioning as needed. I.e. a car breaks down or something else important breaks. Payroll - at 3 to 6 but preferably 4 to 8 months worth of expenses set aside (once again untouched) in the event of a lack of income or a significant decrease that prevents you from maintaining your current lifestyle, allowing you to sustain and keep yourself afloat until you return to the income level you once had or even greater. The money in the emergency fund is there for a quick fix while the "payroll" is there for a solid foundation. As someone is a consultant, I never take anyone's money and invest it until I know they have a minimum of 3-6 months in an account because you need to have stability and safety when dealing with a market that changes daily. Also, having 2 clients who recently lost their job, having the 6 months of expenses covered them until they secured employment. There are other things I would suggest, but everyone's situation is different and needs an in depth look from a professional which just can't be given through a UA-cam video or in a comments section.
Lisa J......he is giving you the best advice to follow. May I add: 1. always live within your means 2. even IF you can only save $5.00, start with that & never touch it. If you do ever need your savings, figure out another way of taking care of the need/emergency! 3. never, never use credit....NEVER!!! 4. NEED things you spend your money on!! the best to you & so glad you can HEAR what he is trying to tell you!
I wish there was a mandatory class in every school for "crucial financial strategies for life". Thank you Nate for doing this.Your generosity with giving out this for free to all speaks a lot about you as a person!
I'm from Colombia, I'm learning English and when I find out your channel I can keeping learn financial education with you Thanks!! My English is very bad, sorry. !
No saving means nothing if you are not doing to put into a good investment. You could die any day with all that saved money laying around. Rich people do not save money. They take their money and invest.
@@ladybird491 i'm 1 month late but hey, at least you dont have a stressful life. If you save money, you may not spend it like you said but you will at least have a peaceful life without debts. And when you look at a lot of situations nowadays, thats still a luxury.
@@diannathornton2911 My FICO score went from 748 to 717 because I stopped using my credit cards. Not a good idea. It's best to just be responsible with them and using them as if they're debit cards.
With all this scary news making the headlines, is this really a good time to buy stocks? I know everyone says the mrkt is ripe enough for buying but will stocks tank further this year? How long until a full stock recovery? How are other people in this mrkt raking in over $250k gains within months, I'm really just confused at this point.
It all depends on how long you're willing to hold for, stocks might likely tank further, but making serious gains in this downtrend wouldn't be a problem if you're a pro
@@kimyoung8414 It all depends on how long you're willing to hold for, stocks might likely tank further, but making serious gains in this downtrend wouldn't be a problem if you're a pro
@@erichkraetz2622 I got into a bit of dilemma myself due to this chaotic mrkt, wasn't sure if to sell or just wait a little longer, 75% of my portfolo was tanking and in the red, but I began gaiinng clarity and have more confidence in my invt. through an lnvt-advlser, I know most DlY-lnvestor like me would say advlsors aren't essential, but come to think of it, they're better trained and equipped at this and if I have to give just a little amountin fees for me to be able to net $650K in less than 8months like I did this year, I truely don't mind.
@@lawerencemiller9720 Ingrid Cecilia Raad is the coach that guides, you probably might've come across her before, she's quite known in her field, search her
Diversifying income streams is so important. Thank you for these interesting ideas guys!, I still strongly believe in the efforts of my advisor. 2 years now and Jane Marie Kunak still surprises me.
NATE! I have to tell you: this video is SO SO helpful - including to this 55 year old! Also, you express great compassion for the financial challenges that people face, such as family influence on ability to learn how to manage budgets. Thank you!
I’m 18, I’m going to graduate high school in a few months and this video actually really helped me understand what to do to build a plan for my life. Some day in the future I will come back to this video and comment a feedback how life went😆
Calculate what you "Make" then check Your Bills, ie Rent, Cable, Car, Transportation (Bus). I live at Home but I help my Mother and I don't live for Free. Week One is easy but Week Two is for Cell Phone, Car Loan, Car Registration. I live in Canada so it's slightly different. Then Week Three is quiet but Week Four is when I pay my Car Insurance, Bank Service Charges. Also when you buy anything, save the receipt, then keep track of what you "Make" in a Month and then see what you "Spent" in a Month. If you spend more than you make you're in trouble. Also ask for the Change in Smaller Denominations, and take The Loose Change and put it in a Piggy Bank. Also take an excel Sheet and keep track of Your Bank Balance. Know when you paid a Bill, get the confirmation number as proof that you paid for it and then put a Check Mark as proof as it was paid. Buy what you "Need" not what you "Want". I hardly spend the way I used to and it feels really good.
13:14 hits home as we are now 6 months into the pandemic as of September 2020. Good thing I listened to your advice Nate when you posted this vid last year thank God.
Thanks dor the tips again! I have a checkings account from that I automatically pay my mortage, healthcare etc and 15% of my paycheck goes to my savings account. I also have a (seperate) budget account. So every month I Give myself a budget for groceries, clothing, social activities etc. All the money that is left over also goes to my savings account. Looking and learning about stocks atm. 👍
Don't stockpile all of your free cash flow into your saving acct. The interest rates are probably crap, and your wasting its potential growth if its invested elsewhere i.e. stock market, real estate, even bonds will suffice if you're frightened of potential down markets. Just don't sit on it kid, put it to work!
@@Word187 you're on the right track bud. I slowly built my portfolio that way too. I love me some dividend paying stocks. Ez money. Keep learning, you're on the way amigo!
I've been slowly watching more and more of your stuff and its actually helping, I haven't put any of what you said into motion just yet but its slowly changing my ways of thinking when it comes to finances! I've been looking for someone that makes videos that are a little easier to understand for me and this is the one!! Thank you lol
Great video! After watching this I feel thankful to be doing all these things. My biggest problem is building an emergency fund. Emergencies tend to happen when I'm still trying to build up my account, then I get wiped out and have to start from square 1 again. It's incredibly frustrating.
You talked about the economy possibility having a major hard time just before COVID-19 hit when you were mentioning having 4-8 months' salary saved up. Well done.
John interlandi....I am so happy for you. I have been reading all these replies & so many of you are doing this, or planning this as your life style! It makes me happy to read!!!! Not all of us know how...& there sure wasn't anyone making videos for my generation...I never learned this until I was 58 & getting ready to retire! I will never get to live well & I still struggle, but now I know "how to" make money work for me!
Bringing that heat, its so many ways to get it and put yourself in a position to really make a impact in this world. Thanks for sharing, great value!!!😁
Just wanted to say, this is one of the most informational and important videos I’ve ever seen on UA-cam. Should be required for all recent college/high school grads.
Arepovic...in other words "live within your means", no credit & NEED what you spend your money on (at least the first years of living on your own income). CREDIT...the devils worship!!!!!
Exactly. Spend as little as possible. Coffee at home, even if it’s cheap. Food at home. Oatmeal with fruit for breakfast. Treat yourself 1-2 times at the end of the month. Delayed gratification is the daily key.
Nate! Really thanks a ton for all the knowledge you put out here! Actually, I've never thought about having a 4-8 months pay-rolls in case something pops up. I'll take your advice!
I don’t know if you’ve already done this but can you do a video on how to invest in the stock market for college students that want to see our money grow over time ?
Get a few bucks together, open an account at one of the discount firms, do a little research, buy some stock and/or some index funds. College is really worth it.
what's the difference between an emergency fund and that 4-8 months worth of payroll? why do that? and what type of account should that money be kept in?
🏦 Earn up to 4.00% APY on this Bank Account: sofi.com/nateobrien
Get 10 FREE Stocks on Moomoo: nateobrien.me/Moomoo
(Valued up to $3,500, offer subject to change. Note: I may receive a small commission when you sign up using my link, this helps keep our videos free!)
I'm new to investing
How do I get started with a professional?
How do we go about these things if your a contract worker
Illustration ouuu uiilli
Great video has a value knowledge. Running towards financial freedom.
Well, this video has some good tipps in it. But there's also alot of stupid advise in here. Especially when it comes to the worth of money. There are so much more valuable things in life than money, i hope that you will understand that one day. The point with the emergency fund is a good point. But nobody should have stress because of finances. That's a different issue. The problem is not the finances in that case, it's how dependend you made yourself of them. They are just a tool. But anybody can live without them too. It's not necessary for living, even though you did say it would be, but it's not. I know people who live very happy without ANY money. Happiness NEVER comes from or through money. Find the truth man. Jesus is the way, the truth and the life. Hope you'll find that helpfull and i hope it sets you FREE. Since it's not free to think you would need to have money. But it's free to know and to understand that you could also go without any money and still live happy. : ) Cause GOD is the one who provides you with all you need. That's the truth. So why don't you talk about investing a bit of your income into the church of jesus?
It's really unfortunate this isn't taught in school.
Thanks for being our teacher Nate!
Thanks for watching!
It's really no accident. People in debt are far easier to control.
Take economics and accounting?
I had to take a personal finance course in high school in order to graduate. It was a requirement for all students. Still is by my understanding.
It's actually common information
if the idea is to build an income stream to use as complement for retirement, or at any given point if needed, then building a dividend growth portfolio always buying adding to it could be a good and peaceful path. On the long run consistency and perseverance could guaranty the desired income stream goal with little worries
the idea is to Look for stocks that have paid steady, increasing dividends for years (or decades), and have not cut their dividends even during recessions.
Well said, with the help of the an investment advi-sor, I diversified my 62K portfolio across many markets and in a matter of months, I was able to produce over 356K in net profit from high dividend yield equities, bonds, and exchange-traded funds (ETFs).
wow massive gains! my partner recently hinted on going same direction.. what did you invest in, and who is your investment advisr please, if you dont mind me asking? in dire need of asset allocation
Melissa Maureen Ward, advanced lady in her 40s and professional, reserach if you care for supervision.
Thank you for this tip. It was easy to find your coach. Did my due diligence on her before scheduling a phone call with her. She seems proficient considering her resume.
At 42, I've come to realize that money is a tool. I’ve worked so hard over the years to realize that if you don’t make money work for you, you can’t experience true freedom. I’m glad I found that out although it was later in life, but that marked the turning point in my finances.
I'm in my mid 30’s. Once I get paid, I begin to spend on irrelevant things. I work hard for my money, so I believe I can spend it on what I like. The older I get, the more my perspective shifts. I want to take my finances into consideration and put myself in order before it's too late. How are you doing it, Sir?
For me, as someone who has lived through the 9-5, what comes to mind first is the safety of my funds, With the help of a pro financial advisor, W Jonas, I’ve gotten into stocks, splitting my funds in different assets that have brought me huge roi. I just reinvest and grow my portfolio.
How can I reach him, please? I've seen good recommendations of his work elsewhere. I need help with investing. I'm ready to pay for his services.
I appreciate the feedback. I reached out to him via the mail you provided and we talked at length. I found him to be verified. I’m glad that I signed up and I've begun my journey with him. Thanks again.
Herman’s ability to identify undervalued companies and spot market trends early has significantly enhanced my investment returns. I couldn't be happier with the results.
I am regretting not investing in stocks ever since but still grateful i kept money in the money market. With about $200k maturing soon, i plan investing in the stock market. What stocks should I look into as a newbie to safely grow my money
You should look at energy stocks , they look to be the biggest beneficiaries of AI and Data centers , also DCAing into a good ETF too ...Prioritize patience and a long-term perspective most importantly consider financial advisory for informed buying and selling decisions.
It's wise to stay proactive and diversify assets to manage risks during uncertain times. I’ve delegated my financial management to a consultant after facing a major downturn in late 2019 during the COVID outbreak. Today, I'm semi-retired and about 25% short of my $1 million retirement target after making additional contributions.
This is definitely considerable! think you could suggest any professional/advisors i can get on the phone with? i'm in dire need of proper portfoIlo allocation
"Laurelyn Gross Pohlmeier," a well-known authority in this field. I would recommend looking into her credentials more because she has a great deal of expertise and is a great resource for anybody looking for advice on how to navigate the financial market.
Thank you for the lead. I searched her up, and I have sent her an email. I hope she gets back to me soon.
1. Retirement account 401k/403b account, ~15%
2. Checking account
3. Necessities; food, shelter, transportation, healthcare, utilities
4. Emergency fund; ~$2,500 liquid and easily accessible, higher if you have a family
5. Debt payoff- snowball method or avalanche
6. Save 4-8 months of payroll; options- online savings or money market
7. Investments; example real estate, bonds, stock market
Thanks for saving our time 😊
@@konikakaiser2048 yup, but Nate is great at explaining things I’d recommend to watch anyways
I taught my children how to manage money. (savings, retirement plan, the difference between a want and a need, etc) My teachings have paid off and I am so glad I took that time with them:-)
Gail Hawkins....so wise of you. You did the best thing ever for your children!!!!! Algebra, trig....just how many of us EVER use that? Every day living survival....NO ONE teaches that, the very basic of what we ALL NEED! Your comment puts a smile in my heart!!!!
Please teach me!! Lol
Can you teach me? 😭
You are AMAZING! Most adults don’t have this knowledge to pass onto their kids. Glad you paid it forward.
I wish my dad taught me that! He just told me to figure it out and I’m in mid 20s learning everything so late 😭
I am currently 16 years old, your videos are going to save my ass
trained killer...you bet they will & DO what you are taught. Credit will destroy your life & you will never get anyplace if you try to do it with credit! NEED what you spend your money on!!!!!!! (possibly change your name...it's a horrible thought)
dude, change your name and mindset. nate , his papa or his grandpappy will not be able to save your ass if you in jail for 30 years.
Wow! Wish all teenagers would watch and learn. This stuff is not taught in school.
when you are 16 and watching this kind of videos you are doing a lot of things right!
Youre so lucky that in current times its so easy to found that type of knowledge. I feel bad that in my school times, there wasnt anything that will teach us anything about finance.
Once you've established a solid savings routine, focus on cultivating a disciplined investment mindset. Investing is 5% intellect and 95% temperament. It requires patience, persistence, and the ability to hold on when you're bored or tempted to make impulsive decisions. By combining good saving habits with a strong investment temperament, you'll be well on your way to achieving financial success.
Nobody knows anything, About on how you save, you need to create your own process, manage risk and stick to the plan, through thick or thin while also continuously learning from mistakes and improving.
Having an investment adviser is the best way to go about the market right now, especially for near-retirees, I've been in touch with a coach for a while now mostly cause I lack the depth knowledge and mental fortitude to deal with these savings issues and settling, I netted over $220K during this dip, that made it clear there's more to the market that we average joes don't know
Real facts, the fin market might be broad and complicated, but if you do know what you’re doing, it can also be very rewarding. Thus, u have money to save..
I’ve actually been looking into advisors lately, the news I’ve been seeing in the market hasn’t been so encouraging and I could really use some guide, but are they really that effective though?
Big Credits to Rebecca Noblett Roberts she has a web presence, so you can simply search for, there are some others but it might be difficult to get them, but Sonya has been a good guide through the year.
I’m telling you, having that 4-8 month payroll is worth everything in gold! I lost my job and had started searching for new ones that fit my needs. Took about 2 months. My payroll fund had me covered no problem. Not having to worry AT ALL about how you’ll pay your bills is a god send and I recommend EVERYONE do this as well. Looking for a new job almost felt like a short vacation haha I was able to take my time finding the right job for me rather than taking what was available to start paying the bills. Thank you for sharing this information, a lot of people could use it myself included.
Good job on that! I hope you are still enjoying your job you chose :)
Hey just saw your comment...idk are you willing to answer but how did you create that 4-8 months payroll? What percentage of your paycheck did you put in online savings? Did you put that percentage of every paycheck or just once? I'm an 18-year-old and trying to figure out money management, your help will be much appreciated. Thanks
@@ivanjaman5525 every case is by individual circumstance such as I was a truck driver so I was able to save on rent and most bills one would have to pay being local such as having a car/insurance so I didn’t have many expenses. I was able to save majority of my paychecks. What I would recommend is write down a list of all your spending. From bills, to food, to entertainment etc. Once you have that down, come up with a goal. What is the amount of money you would like saved by year’s end? And if not a money goal, just save a percentage of your paycheck you feel most comfortable saving. So lets say 10% for example. After you reach your total for monthly expenses, take out 10% of the remainder and throw that in your savings and the rest will be spending money or you can save that too if you don’t want to spend it. You might want to start off your savings percentage a little higher to also build your safety cushion such as if you want to have $2,000 as a safety net. Once you hit your cushion goal, decrease the amount for your overall saving goals. Also, if your company offers 401k i recommend investing into that at the highest percentage they allow you too which is usually between 1-5% of your pay. It might seem annoying or a lot of money to save at the beginning but once your have that initial start, the snowball effect is insane. Before you realize it youll have so much money saved along with your safety cushion for emergencies like i spoke on. You’ll 100% breathe easier and that in itself self is priceless. Im happy to hear a 18 year old is trying to better invest their money, I wish I was that smart at your age. Keep at it brother, you’ll definitely be in a better place! Also, don’t put yourself down if you spent a little more than you wanted or didnt save enough that one month! That’s totally okay man, no one is perfect! As long as you hop back on the saddle and keep striving towards your goals is all that matters! Best of luck!
@@santi9532 thank you for your answer! best wishes
Yes I agree I hear 6 month of living expenses but I'm in favor of a 6 month to 1 year of pay checks saved up. Not been easy for me late started . But paying myself first is helping the most
Proper investing and discipline is a very key. Discipline at every time is worth everything
Emergency fund is so important! Most people get in debt because they don’t have an emergency fund and are forced to take a loan out to cover an emergency expense.
Right on! Creating that buffer can help alleviate some financial stress
Most people don't put in the effort to build an emergency fund. The amount of people I see at the tavern, drinking and smoking (both brands), yet bitching about how broke they are, amazes me.
Simple Finance so true an emergency fund is important! After watching Dave Ramsey’s videos I decided to start a goal to establish a 1,000$ emergency fund. I thought it would take 3 months to establish. It should only take 2 months to establish.
alot of credit card debt
Stylish America is still a newly founded country in comparison to German and many older countries. I strongly feel that the US is much more capitalistic than other countries.
As a retired teacher, I can honestly say that this and other life skills isn't taught in our schools, which is unfortunate. This is good info for everyone. Thanks for doing this.
Thanks Norman, my school did not offer personal finance classes. I hope that one day schools will require personal finance class as they do with other subjects
Don't people have parents in America?
@@mediterraneanworld it's frowned upon to talk finance here in the states!
are not or aren't taught in our schools..........(not isn't)
@@mediterraneanworld - Parents in America are not strict.
Nate I started watching your videos 3 months ago and I had 45 dollars and my checking account applying some this advices i opened couple savings accounts and I have 5k dollars and my finances under control. now I getting ready to start investing in market stock .... nate thank you your doing a great job
Wonderful.
@@Cookie-y1d wow
Good for you, Dylan. It's called learning. Which schools and parents are not teaching nowadays. So, you have to get it digitally.
Make sure to do plenty of research before you invest in the stock market. It's easy to lose it if you don't know what your doing.
dylan F.A. Wonderful!!!! I did it all wrong & it took me forever to learn to "live within my means". Your life gets better & better as the years go by IF you do learn to live within your means. Our means is not always very good when we start out in life, but it gets better & better as the years go by! Some things he MAY be a little off on, but....he has good advice & IF you listen, you will do well! You make my heart smile to hear your comment! smiles!!!!!!!!!!!!!!!!!!!
Been paying off credit card debt. Credit score went up 78 pts due to credit utilization. Savings account getting healthier. Started 401k. Thanks Nate! I feel in control now
Always pay yourself first! So important to financial wealth.
Yes sir!
Dont pay for chicks , if they want to suck your money just dump them
If you dont have debt then yes but if u do u definitely need to pay that off before paying yourself
First rule of Kiyosaki!
Old Skool UK Garage he said chicks. paying for your girlfriend is obviously going to be different. especially if she truly loves you and you love her bc she ain’t sucking your money and using you like some other girls would. ya feel
I was able to pay bills using side hustle income and saved all my main job income! Wonderful
Love it!
Leena Kaur You can do Uber eats deliver and Lyfe and Uber if you have a car and also Amazon Flex these extra income on the side
Wonderful! For you!
Same, it’s so great having that flexibility
Saiga Legacy....OMG what a good idea (if a person can work two jobs). If I could just start over knowing what I know now!!!!! You are wise!!!! I have been going down reading peoples replies & so many are getting the point of what he is saying. With years of bad experience my word is....live within your means & your means get better as time goes by! If you choose debt (credit cards) you will never have anything but debt!!!! Hopeless, endless debt!!!! I was old before I figured this out! If it takes borrowing & credit cards to "get by", then you are living above your means! You are just so intelligent to choose the financial path you have!!!!!! You make me happy to read your idea!!!!!!
Probably biggest takeaway from this video: 16:30 you have to run yourself like a business. I think once people understand that they are their own life manager they might consider not spending their money on the newest iPhone every single year.
So true
I'm my life manager. I have my phone since October 2017, it's a Samsung J3 📱😁😁. the price was 199€ and I hope that I will be able to use it untill 3 more years
I won't ever upgrade like that again.
I have my iPhone 6 since 2015. My 75 yr old mom is doing better than me. She has an iPhone X.
Dhukino...learn to live within your means & your means get better as time goes by IF you stay out of debt. So wonderful that so many people are getting what they should out of his video...so many people are so busy "putting him down" they miss the point! Bravo!!!!!!!!!!!!!!!!!!!
I m in hospital and decided when I get out, I am purging my entire life, living as a full blown minimalist, and following all your instructions, and having my own business
Nate I was a retirement planner and I started when I was 20.
You are the most focused guy your age that I have ever met in 42 years. You must have had some one in your life that guided you in the right direction. Your knowledge blows me away
.
Keep teaching the youth man, this is great. I’m taking good value from every single video. Saving is hugeeee. Wish everyone a blessed week ! Work hard
Agreed Noah! I'm all about learning on UA-cam and gathering all this investing knowledge
Thank you Noah!
@@NateOBrien from the bad habits I get to my savings 5 dollars and buying thing from their price 50% add to my savings and now I have huge savings
In addition to being an important topic for all, the delivery had an extra bang with the 'flip chart'. Listening is not always hearing, especially in a rapid fire presentation; but Listening & Seeing has greater Impact (like two knocks to the head). Well done. $$$$$
Thanks Ken! I figured the flip chart would help exemplify my points
Visual aids are valuable teaching tools
If you need to slow it down to process the information, touch the three dots on the upper right corner; a drop down screen will appear, choose Playback Speed, .75 should do the trick.
You’re literally teaching me everything my parents didn’t have time to
Your parent don't know it is not that they don't have time,remember we are not thought in school so please don't blame them.
I am concerned about the impact of rising prices on my plans to retire at 62 and build savings. I wonder if individuals who experienced the 2008 financial crisis found it less challenging than my current situation. The stock market's volatility, combined with a reduced income is causing anxiety about having enough for retirement.
Consider investing in stocks especially during a recession. While recessions can be tough, they can also offer good chances to buy low and sell high in the markets if you're cautious. Just remember, this is not financial advice, but it's a good time to think about buying stocks since having cash on hand isn't always the best option.
Impressive can you share more info?
I admire the financial independence of people, But you can live better if you work a little more. After watching this I think there are people out there, on the extreme, who plan to die early just to be able to retire early. To each their own but to me, retirement isn't just about not having to work, it's about having the freedom to do whatever you might reasonably want, such as travel, buying things, enjoying life, etc. I don't think I could retire with less than $3m in income-generating investments, maybe $2m at the very minimum. I plan to work until I'm at least 45
Nobody knows anything, you need to create your own process, manage risk and stick to the plan, through thick or thin while also continuously learning from mistakes and improving
@@MaryPatricia-wr3wj Having an investment adviser is the best way to go about the market right now, especially for near-retirees, I've been in touch with a coach for a while now mostly cause I lack the depth knowledge and mental fortitude to deal with these recurring market conditions, I netted over $220K during this dip, that made it clear there's more to the market that we avg joes don't know
@@GabrielPitchford Who’s the person guiding you
@@MaryPatricia-wr3wj
credits to *MARTHA ALONSO HARA*, one of the best portfolio managers out there. she's well known, you should look her up
@@GabrielPitchford Thank you, I just checked her out and I have sent her an email. I hope she gets back to me soon.
The best way for me, to add to my emergency fund/savings, has been transferring whatever is left at the end of the month and in a sense "starting over" each month. Works very well.
Great move.. I'm doing that, but putting some of the extra into a Roth too. Roth grows tax free forever, plus I grabbed a couple of Tesla shares a few months ago.
This is real world usable advices. Not like other time wasting videos on UA-cam this actually delivered.
I just completed a bunch of financial classes this entire month and you explained everything in one video 😅👌🏽 amazing! You’ve got a new subscriber ❤️
Sorry for writing you, just out of curiosity your page come up on my suggested friend lists so I was just wondering if I knew you from somewhere??
Nate is a rare gem for his age, especially when it comes to practical financial wisdom. I'm in my 60s and so glad I practiced fiscal responsibility from my youth up to the present. Don't just watch this video, put it into practice NOW.
Nate obviously is a genius. The 6th tip is the ultimate to save money and make more income
I strongly support you. I make as much as an income of $2k weekly from my investment
Very true. Learning to save and creating passive income is a great way to boost your finances
im19 and after watching some of your motivated to change my life around thanks so much and keep doing what your doing
Francesca Venasio...wise girl! At first maybe you won't be able to do ALL of his advice, but keep working at it...it will all fall into place. Live within your means, need what you buy, never use credit...NEVER!!
Accountability check. Hows life 1 year later
Can I ask you for an honest reply ? Is this training easier for you to accept from him, or would you have also been so receptive if your parents taught you these principles ?
Important points for the debt repayment: You pay the minimum balance on all debts but extra money goes toward paying off the lowest balance or highest interest rate. Once that's paid off, you apply the amount you had been paying for that targeted debt to the next targeted debt. That's how things snowball/avalanche; as debts get paid off, the other debts can be paid off in larger amounts so things build up over time.
These lessons should be taught early on especially for the younger generation.
13:11 yooo who's watching this in 2020 with the whole COVID-19 stuff happening?
Me! Crazy
Also very great content.
Ikr
Yup 💪🏻💪🏻
10% unemployment? Those a rookie numbers son
I so appreciate your video. Where were you when I was younger. I have shared this with so many and I hope they take advantage of it
Watching this during the corona virus and he totally called, "there are sometimes people lose their job" "things can get hard"
Great video!
I'm glad I found your channel. You are sorta like Dave Ramsey without the patronizing and condescending overtones...
Bahaha true that
Haha
It's those condescending overtones that to the trick for me.
Graham Stephan
he is the dave ramsay..whit the twist of modern wold!
1.5 minutes into this and I can already tell you're genuine and legitimate, subscribing
One thing he didn't mention with the debt snowball is to, once you've eliminated that first debt, roll that payment amount over onto the next largest balance. Basically, pay as much as you can toward the smallest balance. Once that first balance is gone, you have that left over cash flow you can apply to the next highest balance.
I love these tips. I used the snowball method to pay off my car, personal loan, and iPhone this year! Each small thing I paid off, I put that exact amount into the next smallest debt payment. I only have my credit card and student loans left and I’ve built up my savings account slowly this year too. I love the advice about having the emergency fund in a checking account. Thanks Nate!
The number one reason people are poor is because of this thing called "instant gratification". If they can delay gratification, they will be rich period.
This is so true thanks for explaining it like that
Something g like a new phone or new TV that gets upgraded each year. If you don't buy the new gadget each year you can save loads
Delayed gratification, financial literacy, basic investment strategy, and a healthy mental state
Skimping on "instant gratification" also defies the whole purpose of getting rich. People want to get rich so that they can instantly gratify themselves at any time they want. The hard part in becoming rich is that you have to sacrifice the very thing you ultimately want to achieve and for that reason it doesn't make much sense for most people.
That's completely true for Middle Class people living paycheck to paycheck. That is not at all applicable for people who don't make enough money to even cover step 1 and buy enough food to survive and pay rent on a crummy studio with cockroaches in the bad part of town, which is true of many Americans.
its fair to save money for interest but its not advisable you put a total 100% into savings. i will say you put your money to work, is always necessary to invest so as to multiply income.
that's true, i totally agree with you. investment is always necessary especially to the low-income persons
interesting... but what exactly can i lnvest in that will yieId me good profits. Perhaps 25% BiweekIy?
@@alanbalinski5655 Stocks, Mutual funds, Options. and the Forex market. Forex can be a very good lnvestment compared to stocks. The advantage of a forex lnvestment is that the trader is using leverage. to potentiaI lnvestors Forex is a good way to make a nlce ROI most specially with the help of a professionaI portfoIio manager
i'm a profitabIe Forex Trader. I'm not a billionaire but I'm making stable profit every month. l started to learn Forex when I was 19 years old. And practice a lot opening BUY/SELL orders on demo accounts
Is this forex trading a good business
I feel like the root problem of poverty is caused by our public school system. Not even teaching students the basic things like how to make a budget..
Budgets are fine, but those aren't really the answer. The real problem is that people are so obsessed with consumerism. People need to stop buying things on a whim. Shopping sales, eating out, buying starbucks, etc.
@Malishma Loi That would be great except for the fact that most families in America are in debt and also don’t know how to manage money. So teaching their kids what they know would only hurt more.
That's one of the causes, but it's not the root cause.
05/25/2021
@@mandie1456
Amen to that!! SOOO much of a family's spending is needlessly spent on pizza or some other fast food venue.
That's just the beginning of unwise spending.😒
I am a 19 year old and I am about to start my job in a couple of months! Thank you! Right in the time that I need it.
My first job!!!🥺
I like how you speak fast and straight to the point.
That's some wise old sage advice from a smart young man.
“Thinks can go south” - looking back this feels like an understatement
Retirement for some people becomes their bondage in poverty because they failed to invest with the little they have on their active years of working, this is an error we need to start working on now, I’ll advise that while you still can work and earn also take some money aside and invest in your future after retirement so this classification won’t have to be yours
Meeting with someone genuinely good at the financial market was a break through for me
To all the young people out there I did everything right saved, only spent on needs then in 2011 my body broke down (was flat on bed for 2 yrs)...all funds came into use especially the emergency fund first now at 47 broke but getting by....you do not know what could happen in the future so be careful
Wow, at 36 years old. Thank you for sharing the warning.
Even though this video is old, you have provided me with a significant amount of information I can use for years upon years. I appreciate it! To be honest, I was looking for ways to budget the money I had received from my job. Since I had watched your video while taking down some notes. I can say that I feel confident in the way I will plan for my future paycheques'.
I love how cold-cut and dry he explains his points. I don’t usually hear financial youtubers talk about death or homelessness.
I'm currently 17 years old and will be moving across the country by myself for school in less than a year. Your videos are making me way more comfortable with that idea!!!
The idea of investing a significant sum of money may be both thrilling and intimidating. There is potential for considerable wealth increase with the correct strategy. How can one take advantage of compound interest and potentially grow your retirement savings/net-worth to about $3M over time?
A solid strategy can be a key component of an investor’s portfolio. Well, the bigger the risk, the bigger the reward and such impeccable decisions are better guided by professionals.
Yes true,< I have been in touch with a financial advisor. With an initial starting reserve of $80k, my advisor chooses the entry and exit commands for my portfolio, which has grown to approximately $550k.>
I’ve been looking to switch to an advisor for a while now. Any help pointing me to who your advisor is?
There are a lot of independent advisors you might look into. But i work with Nicole Desiree Simon , and she is excellent. You could proceed with her if she satisfies your discretion. I endorse her
I just checked her up online, and I must admit that she has an extremely outstanding experience in investment. Thanks for sharing. I'm going to send her an email right away
I'm putting 10% into a Roth 401k, maxing out a Roth IRA, putting about another 6k into a regular brokerage account in other investments and the rest I'm just saving in cash hoping to eventually get a couple rental properties.
No gold or silver? What will you do when the dollar collapses?
So you're trying to get rich when you're old?
Try get rich while you're young and can enjoy it more
@@ーススペードのエ Considering a large number of people who get rich quick when they are young blow it all and end up broke lol The last thing I wanna worry about when I'm 80 is having enough money. I'll be a millionaire by 50 so it's not like I'll be that old lol I'll be able to enjoy it trust me.
Chris Wilson if you’re rich enough at a young age you won’t spend it all. If you have the discipline to invest to make a lot when you’re at that age you will still have the discipline with greater amounts of money but you will be able to have more leisure time in general because of that money
Good for you
Man I do all of this now and have been for years. It definitely should be taught in school...great video sir!
Jason Obioha...this is stuff I was never taught & had NO CLUE how to do. It all never occured to me until I was 58 (a little late). Now I have my "act together" but as an "old lady" am struggling (still) because I did not do as I should have when I was young. A person MUST live within their means, save even IF it's only $5.00 at first, & never, never use credit!!!! If you can't afford to pay cash, you don't need it! Credit...the devils advocate!!!!!!
I loved how useful and professional this channel is. 👏🏼 learning everyday. Keep it up.
Very literate and articulate for one who speaks quickly. Thank you for also speaking in latence terms. Very easy to understand.
I am 37 and I never learned how to manage my money properly. Thank you very much for these videos. You’re literally saving my life and improving the lives of my kids. I grew up in a very poor family and no one ever showed me how to save money. I don’t want my kids to go through the same thing.
I love your videos, Im 18 and I feel like you really relate to the younger crowd. Very easily interpreted
Thanks so much Jay! Glad to see that you are taking control of your future
It’s super hard especially when your healthcare takes over your financial situation. Sometimes I feel like I’m drowning just in medical bills and of course stress makes your health even worst !
The right investment can get you ahead in no time! Insightful video. I just want to know best how people split their pay, how much of it goes into savings, spendings or investments. I'm 27, and earn nothing less $150k per year, but nothing to show for it yet.
When people have money, they spend it. And some people spend more money when they have more of it. If you want to improve your financial management, you should consult with a financial advisor.
@@devereauxjnr A lot of folks downplay the role of advisors until being burnt by their own emotions. I remember couple summers back, after my lengthy divorce, I needed a good boost to help my business stay afloat, hence I researched for license advisors and came across someone of due diligence, helped a lot to grow my reserve notwithstanding inflation, from $275k to approx. $850k so far.
@@viewfromthehighchairr Nice, who is the Financial Advisor aiding you if this is not much i'm asking? my retirement plans are going down the drain with my 401k particularly losing everything it gained ever since 2021.
@@AlbertGReene-p8w My Financial Advisor is NICOLE DESIREE SIMON. I found her on a CNBC interview where she was featured and reached out to her afterwards.
@@viewfromthehighchairr She appears to be a true authority in her profession. I looked her up online and found her website, which I browsed and went through to learn more about her credentials, academic background, and career. She owes me a fiduciary duty to act in my best interests. I set up an appointment to use her services.
Wish I had this mindset and knowlege when I was 21. Would have saved me a WHOLE HEAP OF MONEY AND HEARTACHE. Well done young man.
Nice video bro I love this.. so much..
I don't know who needs to hear this.
Save to invest. You will be saving a day off work.
Yeah.. there's a lot of investment opportunities. Don't enter the world of investment without a guidance.
@@auramoore5484 hell yeah.! Help of an account manager is very good when Investing it saves you from massive loss.
@Graham Cassidy5 6 2 4 4 9 3 8 5 7(+1)
Reach her on wassapp Lisa marie.
I found her website online and wrote her a mail just now, how is her fee structure like?
Glad to see you explained & separated the emergency fund, from the “payroll” savings, because unfortunately this distinction is sometimes overlooked. Liked the longer video-wouldn’t mind if they were longer, or even more frequently. I think you’re a great teacher. 💯👍
Thanks so much Lisa, means a lot to me!
Hi, everytime I hear about emergency funds, people talk about saving around 6 months worth of your expenses, which is basically the "payroll" savings you're talking about. Why do you think it's necessary to have both?
Thanks :)
@Maria Inês Pereira If you’re asking me, I personally think it’s important to have both because they’re used for two different types of emergencies. God forbid you have a sudden medical emergency that’s not completely covered by your insurance, and find yourself temporarily out of work while you recover. If you had an emergency fund, it could be used to help cover your medical expense, without depleting the money you’d need to support yourself while you’re out of work. That’s just one scenario, but this idea of needing to use two different funds back to back can occur. That’s why I personally think it’s a good idea to have two separate funds. Hope that helps Maria! 😊
@@mariainespereira142 so just giving my opinion here.
Emergency Fund - Money that cannot and will not be touched for anything outside of a necessity no longer functioning as needed. I.e. a car breaks down or something else important breaks.
Payroll - at 3 to 6 but preferably 4 to 8 months worth of expenses set aside (once again untouched) in the event of a lack of income or a significant decrease that prevents you from maintaining your current lifestyle, allowing you to sustain and keep yourself afloat until you return to the income level you once had or even greater.
The money in the emergency fund is there for a quick fix while the "payroll" is there for a solid foundation. As someone is a consultant, I never take anyone's money and invest it until I know they have a minimum of 3-6 months in an account because you need to have stability and safety when dealing with a market that changes daily.
Also, having 2 clients who recently lost their job, having the 6 months of expenses covered them until they secured employment.
There are other things I would suggest, but everyone's situation is different and needs an in depth look from a professional which just can't be given through a UA-cam video or in a comments section.
Lisa J......he is giving you the best advice to follow. May I add: 1. always live within your means 2. even IF you can only save $5.00, start with that & never touch it. If you do ever need your savings, figure out another way of taking care of the need/emergency! 3. never, never use credit....NEVER!!! 4. NEED things you spend your money on!! the best to you & so glad you can HEAR what he is trying to tell you!
I wish there was a mandatory class in every school for "crucial financial strategies for life". Thank you Nate for doing this.Your generosity with giving out this for free to all speaks a lot about you as a person!
Just FWD this video to 12 people because you answered their questions. Excellent video, Nate!
Wow thank you so much! Means the world to me!
That emergency fund bit, I literally gasped! Amazing video, thank you!
Sorry for writing you, just out of curiosity your page come up on my suggested friend lists so I was just wondering if I knew you from somewhere???
@@annetteveronica7293 Nothing comes to mind but I grew up in Kenya and now live in Rwanda if that can help narrow it down.
How about you and where are you from?
I'm from Colombia,
I'm learning English and when I find out your channel I can keeping learn financial education with you Thanks!!
My English is very bad, sorry. !
Escribís inglés muy bien, sigue adelante estudiando tu inglés no es malo, ya que entendí tu comentario. Muy bien!
Dont spend more than you can earn. Save much as you can everypayday. Pay your credit card in full so as not to pay any interest.
No saving means nothing if you are not doing to put into a good investment. You could die any day with all that saved money laying around. Rich people do not save money. They take their money and invest.
After you've paid off credit cards, stop RELYING on them, stop USING them.
@@ladybird491 good point
@@ladybird491 i'm 1 month late but hey, at least you dont have a stressful life. If you save money, you may not spend it like you said but you will at least have a peaceful life without debts. And when you look at a lot of situations nowadays, thats still a luxury.
@@diannathornton2911 My FICO score went from 748 to 717 because I stopped using my credit cards. Not a good idea. It's best to just be responsible with them and using them as if they're debit cards.
Pay yourself first,always!
With all this scary news making the headlines, is this really a good time to buy stocks? I know everyone says the mrkt is ripe enough for buying but will stocks tank further this year? How long until a full stock recovery? How are other people in this mrkt raking in over $250k gains within months, I'm really just confused at this point.
It all depends on how long you're willing to hold for, stocks might likely tank further, but making serious gains in this downtrend wouldn't be a problem if you're a pro
@@kimyoung8414 It all depends on how long you're willing to hold for, stocks might likely tank further, but making serious gains in this downtrend wouldn't be a problem if you're a pro
@@erichkraetz2622 I got into a bit of dilemma myself due to this chaotic mrkt, wasn't sure if to sell or just wait a little longer, 75% of my portfolo was tanking and in the red, but I began gaiinng clarity and have more confidence in my invt. through an lnvt-advlser, I know most DlY-lnvestor like me would say advlsors aren't essential, but come to think of it, they're better trained and equipped at this and if I have to give just a little amountin fees for me to be able to net $650K in less than 8months like I did this year, I truely don't mind.
@@joesphcu8975 Omg you made 650k this year? Who is this coach that guides you?
@@lawerencemiller9720 Ingrid Cecilia Raad is the coach that guides, you probably might've come across her before, she's quite known in her field, search her
Nate
I'm English and this lack of
financial education in schools is the same over here.
Great videos! Many thanks for these.
I paid my 6000 consumer debt.Not only do you get relief from bills but also you can increase you cash flow because now you are not paying interest.
It's hard thinking about retirement. I work Freelance and as an Independent Contractor so I do need to start thinking about my future.
Diversifying income streams is so important. Thank you for these interesting ideas guys!, I still strongly believe in the efforts of my advisor. 2 years now and Jane Marie Kunak still surprises me.
I did read about Jane Marie Kunak., quite an interesting lady to look up on the web.
Consistently investing in quality dividend paying companies over the long term is a relatively easy strategy to create generational wealth,
Awesome content, i have come across various recommendations. I must say this one stands out.
Thanks for sharing this has been beneficial to me!
I respect all of you here, learning finance for yourself! The first step to success is a willingness to learn! Thanks for the information
Love your content man. 10min and under is my fav
I love this video. I visit it every few months to get myself realigned.
I’m 17 turning 18 in 2021 I’m really trying to get into investing and you’ve been a good teacher
Great tips Nate. Thanks!
Wish I had learned this 28 years ago when I started my first job.
NATE! I have to tell you: this video is SO SO helpful - including to this 55 year old! Also, you express great compassion for the financial challenges that people face, such as family influence on ability to learn how to manage budgets. Thank you!
I’m 18, I’m going to graduate high school in a few months and this video actually really helped me understand what to do to build a plan for my life. Some day in the future I will come back to this video and comment a feedback how life went😆
I am rooting for you.
How did it go ?
Calculate what you "Make" then check Your Bills, ie Rent, Cable, Car, Transportation (Bus). I live at Home but I help my Mother and I don't live for Free. Week One is easy but Week Two is for Cell Phone, Car Loan, Car Registration. I live in Canada so it's slightly different. Then Week Three is quiet but Week Four is when I pay my Car Insurance, Bank Service Charges. Also when you buy anything, save the receipt, then keep track of what you "Make" in a Month and then see what you "Spent" in a Month. If you spend more than you make you're in trouble. Also ask for the Change in Smaller Denominations, and take The Loose Change and put it in a Piggy Bank. Also take an excel Sheet and keep track of Your Bank Balance. Know when you paid a Bill, get the confirmation number as proof that you paid for it and then put a Check Mark as proof as it was paid. Buy what you "Need" not what you "Want". I hardly spend the way I used to and it feels really good.
13:14 hits home as we are now 6 months into the pandemic as of September 2020. Good thing I listened to your advice Nate when you posted this vid last year thank God.
Thanks dor the tips again!
I have a checkings account from that I automatically pay my mortage, healthcare etc and 15% of my paycheck goes to my savings account. I also have a (seperate) budget account. So every month I Give myself a budget for groceries, clothing, social activities etc. All the money that is left over also goes to my savings account.
Looking and learning about stocks atm. 👍
Great to hear! Keep learning!
Don't stockpile all of your free cash flow into your saving acct. The interest rates are probably crap, and your wasting its potential growth if its invested elsewhere i.e. stock market, real estate, even bonds will suffice if you're frightened of potential down markets. Just don't sit on it kid, put it to work!
@@serjiogonzales1954 Yeah thanks for the tip. Will do as I am looking and learning about dividend stocks atm. But it is still new to me so.
@@Word187 you're on the right track bud. I slowly built my portfolio that way too. I love me some dividend paying stocks. Ez money. Keep learning, you're on the way amigo!
I've been slowly watching more and more of your stuff and its actually helping, I haven't put any of what you said into motion just yet but its slowly changing my ways of thinking when it comes to finances! I've been looking for someone that makes videos that are a little easier to understand for me and this is the one!! Thank you lol
Great video! After watching this I feel thankful to be doing all these things. My biggest problem is building an emergency fund. Emergencies tend to happen when I'm still trying to build up my account, then I get wiped out and have to start from square 1 again. It's incredibly frustrating.
what emergencies did you spend the money on?
Out of all of the financial advice videos I've watched, this one is the clearest on how to prioritise where your money goes. Super helpful, thank you!
You talked about the economy possibility having a major hard time just before COVID-19 hit when you were mentioning having 4-8 months' salary saved up. Well done.
Man. You must be talking about me...i do everything you just recommended and im in very good shape because of it.
John interlandi....I am so happy for you. I have been reading all these replies & so many of you are doing this, or planning this as your life style! It makes me happy to read!!!! Not all of us know how...& there sure wasn't anyone making videos for my generation...I never learned this until I was 58 & getting ready to retire! I will never get to live well & I still struggle, but now I know "how to" make money work for me!
You are changing my life. Thankyou for your work.
Comments like these make my day. Thank you
Bringing that heat, its so many ways to get it and put yourself in a position to really make a impact in this world. Thanks for sharing, great value!!!😁
Thanks for watching the video Martin!
@@NateOBrien You're welcome, thanks again for sharing!
Nate - Iam so glad I found your channel on youtube.Great stuff all over posted by you.Hats off
Just wanted to say, this is one of the most informational and important videos I’ve ever seen on UA-cam. Should be required for all recent college/high school grads.
the main key is to NOT SPENDING TOO MUCH
Arepovic...in other words "live within your means", no credit & NEED what you spend your money on (at least the first years of living on your own income). CREDIT...the devils worship!!!!!
Exactly. Spend as little as possible. Coffee at home, even if it’s cheap. Food at home. Oatmeal with fruit for breakfast. Treat yourself 1-2 times at the end of the month. Delayed gratification is the daily key.
Nate! Really thanks a ton for all the knowledge you put out here! Actually, I've never thought about having a 4-8 months pay-rolls in case something pops up. I'll take your advice!
I don’t know if you’ve already done this but can you do a video on how to invest in the stock market for college students that want to see our money grow over time ?
Get a few bucks together, open an account at one of the discount firms, do a little research, buy some stock and/or some index funds. College is really worth it.
I'm 28 and learning it's never to late, thanks Nate God bless u
what's the difference between an emergency fund and that 4-8 months worth of payroll? why do that? and what type of account should that money be kept in?
Tithing plays an important part, even for economy, it's distributing from Haves to Have not.
THIS NEEDS TO BE TAUGHT AT EVERY SCHOOL!!!!!