I recently saw my mom pass for liver disease. The last year she had a real difficult time walking on her own. If your healthy and feel good and can walk around on your own, your rich. Anyone whos ever taken care of a sick person knows what im talking about.
My BFF lost her legs in a car accident. Because of that, I sometimes pause what I'm doing when I'm having a horrible time in life and remember to be thankful that I can at least walk.
My condolences for your loss. I totally agree. Walking, balancing, and being able to use your hands. Had brain cancer years ago and still fighting through. It is no joke when the body shuts down. I'm ok now, to a certain extent. Enjoy your moments and days - just never know!
Unfortunately that's not true. You can be healthy and still have horrible spending habits, no goals and a dead end job. That just makes you a healthy broke person.
Health is wealth is SO true and most people don’t appreciate how important good health is until they don’t have it any more. I am a 71 year old cancer survivor (going on 19 years since I was first diagnosed) and the best advice I can give to a young adult is to do everything you reasonably can to take care of your health which includes no smoking (a super big NO on that), drink alcohol in moderation or not at all, a reasonable CONSISTENT level of exercise and get your first Colonoscopy no later than 50 and earlier if you have a history of cancer in your family. And….do not neglect your dental health - dental problems are very painful and expensive to properly treat.
I'm living in a tent, on my acreage. My family is like you can live here. I'm like I can rent an apartment, but I don't want that. I'll just save it. I have 3 retirements also. I'm just sick of society. My long term goal is to develop this land for farming and build a home without a lot of debt.
I’m 55 also, right now I’m doing a 12 hour night shift and wondering WTF am I doing wasting my life force at work. I just got out of debt last Friday, I’m still pretty healthy and the wife and I now own our house. I think after 36 years on the hamster wheel it’s time to get off for good. Time to make 2025 and my future a lot better.
Mid 40’s here. Lost my 10+ yr professional job last April (2023). Rested on my laurels that summer bc I received severance & collected UE. Woke up after an amazing summer & realized it was time to get back into work (against my will but life isn’t free). Haven’t landed an interview yet, with 20 yrs experience in my field, & was forced to cash in my tiny 401k that is now all gone. I’m terrified but I’m here & can create a life I’m happy with even if it doesn’t include enough money to _EVER_ retire 😏
You are 100 percent correct. I am 65 , I have being poor and have accumulated a fair amount of resources. The most important thing is the mindset. Save, invest over the long haul. Do not live beyond what you can afford. You don't have to impress anyone.
Getting out of debt is the first big step. Once you are debt free, start saving the money that you were putting into getting out of debt. Don't get discouraged. Accumulating a meaningful amount of money takes time.
@@todddunn945 So u wouldn't borrow money to invest in real-estate? Or to establish a company? Very few companies would exist otherwise. And very few would be able to own their own homes without financing. Everyone I know that owns their own homes today dept free have payed down a loan. In the meantime the currency have dropped, but real-estate hasn't. I'm not in the states but this is how it works in most countries.
@@Underhills No, if I want real estate I will just pay for it. When I started my last company I never borrowed a cent. My opinion is that if you have to borrow money for something you can't afford it. That applies to everything.
@@todddunn945 So if I borrowed money to purchase a $450.000 house that were later sold for $890.000 that's stupid? If an owner of a very successful business financed the startup that's stupid? I don't think your being very realistic or smart if your only gonna invest in something if you have the cash. That's alot of missed opportunities. Just my humble opinion. But you do you 😉
That is totally me. I stayed with someone that hardly worked for 19 years. He had a gambling and alcohol addiction. I take responsibility for staying. I am 58 and had a little saved. He is sobber and in recovery and so am I from codependency. I could have millions but don't to not honor myself, but it is never too late. We are going to slowly get divorced.
Bless you sir. I'm 59 this year and praying to retire next year from my career and start my new passion. You are absolutely correct and thank you for teaching the truth - you can always begin a positive financial journey, no matter your age. It's sad our country doesn't want people to know the truth. Out here in the wild, there are many farmers and ranchers with paid for homes, paid for trucks and $300-500,000 in the bank. They're rich. Rich does NOT mean expensive purchases - rich means the blessings of God that enable you to live your fullest life in service to others.
I've been broke most of my life. But I've gotten a few lucky breaks and have parents who have helped me get ahead. They also taught me a valuable lesson. It's not how much you make, it's how much you keep
Thanks for this video! I'm 40 and living in Airbnbs in Colombia. I was an international teacher and taught abroad for 10 years in Australia, Thailand, Indonesia, Myanmar, Egypt, and Colombia. I quit the classroom a few years ago and teach virtually in the public school system in the USA. I travel the world with a little cat I adopted when living in Egypt. I want to leave education and am also looking for ways to build wealth. Will be tuning in to see more of your content!
Yes, it does. I’m in my early 40’s and already setting myself up to be comfortable when I get to retirement age. I’m accepting what my life is now and what going into the future it is going to look like and I’m at peace with everything.
Thanks Tim!!! I’m the same age as you and in the same boat. I fell ill in my late thirties and that set me back in a major way… But over the past year I’ve been tackling debt aggressively and feel better about my future! We’re looking forward to growing with you in this area!!! ☀️
I ended up broke because I partied by 20s away and early 30s. I also got caught up in the middle of inflation. But I know this shall pass... During the pandemic I watched timothy ward videos and it inspired me
“I’m starting to feel this isn’t forever.” Thank you for perfectly explaining this feeling - I’m 45 and just started to feel this way. I’m very fit and eat well, I cannot imagine how my body would feel if I didn’t.
I 100% agree that there such a unmet need for the mid 40s folks who are in neither camp! I think there are more people in this camp than society would like to admit.
Agree, we aren’t taught about money earlier in life because our ignorance around money makes rich people richer. The longer we spend mindlessly the more money is made. Millions of dollars are made by the haves at our expense, mainly from interest paid on purchases of things that are unnecessary.
Just enjoy life. We can't take any of it with us anyway. Im not even in the mid-40s, and im fed up. Many ppl are chasing this stuff and becoming unhealthy and killing themselves in the process. And ppl with it also not happy with life.
iam 58 and broke, i dont blame anyone i was bad with my money, its on me. drugs and drinking were my downfall, then i got sober and got good job, then went broke again, yet again on me bad money mangement. as long as my basic bills are paid i am ok. i try to live each day one day at a time.
True. We can also love life like a beggar on the street, in the end, we'll ask end up in the same place. But we don't because that life is not pleasant. There's nothing wrong with working towards a comfortable life, and in fact, everybody should. You don't want to be 70-80 forced to work a minimum wage job, and no about to take life easy, on your own terms
I live in Thailand. I'm in my 50s. Worked hard , sold two businesses and a rental, and I live off a quarter of my passive income which is interest earned from savings in the bank. No other investments. Maybe it sounds like a dream life, but the truth is I'm bored and looking for a new opportunity and challenge. And I am not permitted to work in Thailand.
Solid content. The way you build wealth is to make more than you spend then invest the difference! A real simplified explanation but a formula that works.
It's crazy realizing that we have to come to grips with the idea that most people will never have enough money to feel like they have enough. I'm 27 and feeling like I need an another 20k put up to be able to feel like I can relax enough to do whatever I want in life. But in reality money is still an exchange for our time and I really don't want to wake up at 35 and realize that money wasn't worth the best years of my life. I guess the grass is always greener on the other side. In your 20s you feel left behind if you haven't married a fun girl or accomplished or explored major career endeavors. We need to focus on giving ourselves permission to do whatever we want, because in the end that's the only thing that will fulfill the individual. Just my opinion
How about travel hack,? I churned credit cards for 3 years, and flown for nearly free every time, flew for free from SFO to Finland 3 times. And could’ve been a free flight to Hawaii, but changed my mind twice on it and instead just got a bunch of gift cards for gas that paid my gas for 2 years for free.
@@Kenya1984 I have been doing travel hacking for a few years now so I get to fly for free but I still would like to actually make extra money that can help pay some of the bills.
Tim, as usual…amazing video!! I’m only 24 but I really feel the same way as you. I was wondering if you’d be able to make a video talking about why you don’t need a car, and benefits of not having one. I’m sick and tired of everyone in my life forcing me to get a car and convincing me I’m a failure & behind in life if I don’t own one. I just prefer walking, public transit, etc. I also love how much money & stress that I save haha
I did the same, partied in my 20s, traveled in my 30s, and now thinking more long-term. Not broke but no real assets or savings. And to be honest, we are overdue for a crash in housing and stocks, so I don't think all the people who spent all this time investing are going to be that much better off at the end of the day, so no regrets.
Tim, thank you. Wonderful information. This video is one of the examples why I love you and your content. I seriously appreciate your honesty, your advice, and for always sharing with us. Hope you're having a great weekend ❤
I'm 62 and am enjoying your video and the great advice that you are sharing. Btw I started my investment journey late in life, but would like to say that, starting late is not a show stopper, but the beginning of generational wealth.
I was broke in my forties playing with student debt and mortgaging a 1960 house. Got serious and paid off student loan in 2016. Sold house in 2021. Now I'm debtfree, working per diem as lab tech. (Considering working full time again) Yes, I've been self-studying investing for quite a while. Lots of information in books and UA-cam. No more excuses if you live in the United States of America.
Everyone I know works to pay the man and lives paycheck to paycheck. Living life and not working yourself to death seems like a much better alternative.
In my opinion, once you learn the basics of money management and finances, it becomes real easy to keep up on it. The main goal is to bring in more money than you spend. Once those numbers work out, then you can start to dig your way out of debt, and/or make money.
Good said Tim 👍... But this financial system sucks... In 6 years the prices for flats in my capital went up for 100 % but wages stayed the same. This system is only built for rich people to get even richer. There could be no poor people on this planet if rich people would not be so selfish.
Tim your so refreshing ❤. I too have reached my early to mid 50s im following my passion. Im very frugal. I do not overspend...WHY??? You can live the most simple life, and be happy. We have to get out of this 🐑 sheep mentality, and falling for the ookie doke
Just turned 49 a few weeks ago. I feel fortunate to have a good job and two kids that I have a great relationship with. I took a whalllop of hit financially when I got divorced four years ago. I was married 18 years and she didn’t work, so the price tag was steep. However, now I am happy and slowly rebuilding. Day by day. Everyone has to enjoy it and be grateful. It can always, and I mean always, be worse.
I'm 42 with $76k in debt from student loans, getting divorced (she didnt take anything but we split the house sale proceeds), airbnb investing, and living beyond my meager means ($20-30/hr work). I'm done living in debt! I can't even afford an apartment now so I live off grid in a cargo trailer I'm converting into a tiny home. I pay about $2k/mo towards debt. BTW My high school daughter did take a personal finance class at her public school.
Tim, I agree with you we need to teach kids about paying themselves first, saving with a High Yield Savings account , and investing in stocks and bonds. I told some of my last year 8th graders about how they could start investing with the Stash app.
I ended a seasonal job in September had about $6000 and my credit card went to Thailand right before you I came back broke and credit card maxed out I have no car no job and crashing on a friends couch got a job can’t start til November 4th seems like your always right on my trail Tim hope I don’t lead you astray but at least we know how fun Thailand was 🎉
Thanks for the video! It's great having voices like yours out there in a sea of voices all about making more money! I quit my high stress tech job a year ago and things have been amazing since: better relationships, more happiness, more calmness. But definitely more broke 😂 Still have to make some money, but can focus more on life. Worth it!
The best financial advice I can give is this: Whatever retirement fund/s you are contributing to, make sure that your contributions are automated. This way, you don't even count on that money. Eventually, you don't even think about it. If you have not already done this, then set a future date (set daily or weekly alarms on your phone as reminders) to ensure you take action on this. Nothing is going to happen for you if you don't take action. All the best to you! 💯
You are correct about people that advice people in the internet e.g. you tube. Be careful with these people about buying their courses on about CRYPTO currency, bit coin, real estate investment. I guarantee you guys, you won't learn a thing and they will make the money.
True advise here. This is what I did. I am 53 now, paid off my car recently and have at least smth saved. Not too much, as I am German and in Germoney you do not earn much and cost of living exploded lately. But it's enough to not feel totally broke anymore. Considering where I started after divorce and paying 2 x child Support some years ago. I am now relatively rich 😂
I noticed spending habits is a big one. It's not how much you make, its how much you save. That's not just one of those cliches. I know so many people that no matter how much they make they're always broke. If they're making money they're spending. If they ain't making then they're living on credit.
I love this video thank you Tim 🙏🏼 Never had anyone to teach me about finances so I’m looking forward to this series thank for continuing to create and be a beacon of light in the world 🙂🙏🏼🙏🏼🙏🏼
Great advice 👍i just paid off my last 8,500 in one shot 2 months ago to clear out a looonng time debt and i live below my means always i was able to catch up when i got a good job 9 years ago and went 2 percent up on my retirement,No credit card debt i don't use credit cards unless i need to buy something then pay it full near the ending of the month to continue enforcing my credit.
Just found this channel... very nice! I would only say you don't have to "save first", that is basically saying you need to hold a depreciating asset first. You should hold sound money (i.e. Bitcoin), or invest in equities
There are only two sides to the equation save more and spend less. It's really a very simple concept and difficult for people to do because both require sacrifices. It gets more complex when it comes to where to save and grow your money and what you will give up to spend less and/or earn more money. It's not really a math problem, it's a personal responsibility/fortitude problem.
My issue with investing was the fact that I’m participating in the system that I don’t believe in, esp. index funds are based on huge companies that I would rather not support. Maybe you’ll have an answer for that Tim…
The fear mongering is ridiculous, I actually laughed out loud when I read on a financial forum that a 50 y/o only had $750,000 saved for retirement and they were formulating a plan of action... I was thinking, if this person is worried, then I should be in panic mode, but I'm not because I see through the programming of keeping people on the treadmill.
Well, I’m “broke” on a technicality in the sense that I have assets but no cash flow. Long story short I ended up this way because I had a boss that had an unhealthy outlook on me and I got injured on the job and had to leave because I wasn’t willing to sleep with anyone to keep my professional job. Since then I’ve struggled to get back to making that type of money and none of the educational ventures I went into yielded anything fruitful. I’m on my last leg in terms of maybe, at this point,just accepting my faith.
Saving is hella easy if you have a bank that has the save your round up feature from your purchases. And also save 20% of your direct deposits. Set it and forget it.
![Lp. Сердце Вселенной #60 РОЖДЕНИЕ ЛОЛОЛОШКИ [Финал] • Майнкрафт](http://i.ytimg.com/vi/YoR0pAV9FVQ/mqdefault.jpg)
I recently saw my mom pass for liver disease. The last year she had a real difficult time walking on her own. If your healthy and feel good and can walk around on your own, your rich. Anyone whos ever taken care of a sick person knows what im talking about.
My condolences, my friend. I wish you nothing but the best going forward.
My kid has a disability so I understand. It takes so much energy…
My BFF lost her legs in a car accident. Because of that, I sometimes pause what I'm doing when I'm having a horrible time in life and remember to be thankful that I can at least walk.
My condolences for your loss. I totally agree. Walking, balancing, and being able to use your hands. Had brain cancer years ago and still fighting through. It is no joke when the body shuts down. I'm ok now, to a certain extent. Enjoy your moments and days - just never know!
Unfortunately that's not true. You can be healthy and still have horrible spending habits, no goals and a dead end job. That just makes you a healthy broke person.
I’m 53 now. I just keep working and paying bills and debts. It’s never ending.
Health is wealth. I am so grateful for every moment of good health.
Health is wealth is SO true and most people don’t appreciate how important good health is until they don’t have it any more.
I am a 71 year old cancer survivor (going on 19 years since I was first diagnosed) and the best advice I can give to a young adult is to do everything you reasonably can to take care of your health which includes no smoking (a super big NO on that), drink alcohol in moderation or not at all, a reasonable CONSISTENT level of exercise and get your first Colonoscopy no later than 50 and earlier if you have a history of cancer in your family.
And….do not neglect your dental health - dental problems are very painful and expensive to properly treat.
I'm living in a tent, on my acreage. My family is like you can live here. I'm like I can rent an apartment, but I don't want that. I'll just save it. I have 3 retirements also. I'm just sick of society. My long term goal is to develop this land for farming and build a home without a lot of debt.
how much do you net from 3 retirements a month?
May the desire of your heart come true!
I am tired of working around humans it's not even the work it's more the people
Cost money to build a home so yeah debt will come your way.
@@theeguardiangamer8937Unless they have the cash.
Years go by fast. Enjoy it people.
I’ve been chasing financial security for most of my adult years and now at 55 I’m done…it’s going to have to be enough because I’m done hustling.
I’m 20 dam
Yes let's enjoy life we are on the downhill. All work no play makes for a dull life
Yes, hustling is tiring.
I'm 53 and i feel you 100%. I'm over it. I just cut a bunch of hours from work down to the bare minimum that I need to pay my bills.
I’m 55 also, right now I’m doing a 12 hour night shift and wondering WTF am I doing wasting my life force at work. I just got out of debt last Friday, I’m still pretty healthy and the wife and I now own our house. I think after 36 years on the hamster wheel it’s time to get off for good. Time to make 2025 and my future a lot better.
Mid 40’s here. Lost my 10+ yr professional job last April (2023). Rested on my laurels that summer bc I received severance & collected UE. Woke up after an amazing summer & realized it was time to get back into work (against my will but life isn’t free). Haven’t landed an interview yet, with 20 yrs experience in my field, & was forced to cash in my tiny 401k that is now all gone. I’m terrified but I’m here & can create a life I’m happy with even if it doesn’t include enough money to _EVER_ retire 😏
Being creative and optimistic it might be possible to retire or at least not have to work as hard in your later years.
Most people are broke, so don't worry about it.
😆
@@jeffs4483 you are correct ☑️
Yes indeed everybody is broke as we own nothing in this world
Just because most people are broke doesn't mean he wants to be broke. Being broke is no fun.
Cuck mindset
You are 100 percent correct. I am 65 , I have being poor and have accumulated a fair amount of resources. The most important thing is the mindset. Save, invest over the long haul. Do not live beyond what you can afford. You don't have to impress anyone.
I’m broke happy..at peace and content all of which money can’t buy ..Great Vid Tim.
💯
Me too! All I want is peace, quiet and peace of mind. I don't need much to be happy, that's for damn sure!
exactly 💯
i prefer having money
But how about rent?
Your standing out in a beautiful natural setting drinking a latte and laughing. You look strong like a fighter. You are rich.
Getting out of debt is the first big step. Once you are debt free, start saving the money that you were putting into getting out of debt. Don't get discouraged. Accumulating a meaningful amount of money takes time.
Debt can be rewarding, depends on the type of debt. Investments sometimes take financing.
@@Underhills I would never finance an investment. Cash only for me.
@@todddunn945 So u wouldn't borrow money to invest in real-estate? Or to establish a company? Very few companies would exist otherwise. And very few would be able to own their own homes without financing. Everyone I know that owns their own homes today dept free have payed down a loan. In the meantime the currency have dropped, but real-estate hasn't. I'm not in the states but this is how it works in most countries.
@@Underhills No, if I want real estate I will just pay for it. When I started my last company I never borrowed a cent. My opinion is that if you have to borrow money for something you can't afford it. That applies to everything.
@@todddunn945 So if I borrowed money to purchase a $450.000 house that were later sold for $890.000 that's stupid? If an owner of a very successful business financed the startup that's stupid? I don't think your being very realistic or smart if your only gonna invest in something if you have the cash. That's alot of missed opportunities. Just my humble opinion. But you do you 😉
My 45th birthday is approaching right now broke as hell. Don’t worry about it, things will come around.
how do you pay your bills ?
@@BRIANDER100 you can work everyday and still be broke in America
Ending up broke for men is mostly caused by a divorce or a bad business investment
Or child support
That is totally me. I stayed with someone that hardly worked for 19 years. He had a gambling and alcohol addiction. I take responsibility for staying. I am 58 and had a little saved. He is sobber and in recovery and so am I from codependency. I could have millions but don't to not honor myself, but it is never too late. We are going to slowly get divorced.
Nah that may be for some but it's mostly due to poor spending habits.
@@lori5946is that him in your profile picture?🙌🏾😅
No. You become broke when you can’t manage your money. Money management is definitely the issue.
Great video, thank you. I'm 53yo, veteran, college grad, hold two jobs. Living paycheck to paycheck, pretty disappointing.
Bless you sir. I'm 59 this year and praying to retire next year from my career and start my new passion. You are absolutely correct and thank you for teaching the truth - you can always begin a positive financial journey, no matter your age. It's sad our country doesn't want people to know the truth. Out here in the wild, there are many farmers and ranchers with paid for homes, paid for trucks and $300-500,000 in the bank. They're rich. Rich does NOT mean expensive purchases - rich means the blessings of God that enable you to live your fullest life in service to others.
what is your new passion ?
That's awesome. Hitting your 50s your passions in life truly become living ❤ Blessings to you
You are such an amazing person enjoying your life! You definitely are not broke! The average person can only dream of the freedom that you have!
Thank you! 👍🏾
I've been broke most of my life. But I've gotten a few lucky breaks and have parents who have helped me get ahead. They also taught me a valuable lesson. It's not how much you make, it's how much you keep
Proud of you man. Been watching your channel for a while. Learned a lot. Always inspired.
-a working pharmacist and dad.
I love the idea of this series, Tim! Finances for people who are somewhere in the middle. Awesome.
Thanks for this video! I'm 40 and living in Airbnbs in Colombia. I was an international teacher and taught abroad for 10 years in Australia, Thailand, Indonesia, Myanmar, Egypt, and Colombia. I quit the classroom a few years ago and teach virtually in the public school system in the USA. I travel the world with a little cat I adopted when living in Egypt. I want to leave education and am also looking for ways to build wealth. Will be tuning in to see more of your content!
Yes, it does. I’m in my early 40’s and already setting myself up to be comfortable when I get to retirement age. I’m accepting what my life is now and what going into the future it is going to look like and I’m at peace with everything.
But how about living NOW? We never know when our last day is. Most people actually don't get to spend that many years in retirement.
@@Underhillstrue
This is the wisest video I've ever heard. Thank you.
Thanks Tim!!! I’m the same age as you and in the same boat. I fell ill in my late thirties and that set me back in a major way… But over the past year I’ve been tackling debt aggressively and feel better about my future! We’re looking forward to growing with you in this area!!! ☀️
Let’s get it!
I agree Tim! I’m moving more into this season of my life as well. Thanks for sharing your journey.
I ended up broke because I partied by 20s away and early 30s. I also got caught up in the middle of inflation. But I know this shall pass... During the pandemic I watched timothy ward videos and it inspired me
If you got a soul, can wake up in the morning and you’re healthy, you don’t need much else
Would you sell your eyes for $5M? If not, then you're already a millionaire.
Says the person with a smart phone
“I’m starting to feel this isn’t forever.” Thank you for perfectly explaining this feeling - I’m 45 and just started to feel this way. I’m very fit and eat well, I cannot imagine how my body would feel if I didn’t.
Great video on money Tim.
And like you said, the key here is to change our spending habits I agree 100%.
If you’re happy, you’re rich 😎
We came in this world with nothing and we don’t take anything with us when we leave…
You rock Tim! Grateful your channel is available! ❤😊
Love your channel my favorite you talked about having less is more I feel that we have what we need stuff doesn’t fulfill you it consumes you.
I 100% agree that there such a unmet need for the mid 40s folks who are in neither camp! I think there are more people in this camp than society would like to admit.
If you are happy, healthy, earn an income, and you don't have debt, its hard to feel broke.
Agree, we aren’t taught about money earlier in life because our ignorance around money makes rich people richer. The longer we spend mindlessly the more money is made. Millions of dollars are made by the haves at our expense, mainly from interest paid on purchases of things that are unnecessary.
I think you make some great points. Many people are in this position or worse. Looking forward to the content.
Just enjoy life. We can't take any of it with us anyway.
Im not even in the mid-40s, and im fed up. Many ppl are chasing this stuff and becoming unhealthy and killing themselves in the process.
And ppl with it also not happy with life.
Money isn't real tim. It's just something created to have an economy
It’s just a tool, I agree.
iam 58 and broke, i dont blame anyone i was bad with my money, its on me. drugs and drinking were my downfall, then i got sober and got good job, then went broke again, yet again on me bad money mangement. as long as my basic bills are paid i am ok. i try to live each day one day at a time.
Maybe broke financially, but you have a wealth of knowledge and life experience.
That’s true 😌
Exactly!
In tims defense, we all have 80 years and were done here on this earth. Life will go by quick. Debt or no debt, we will all end up in the grave.😂😂😂
True. We can also love life like a beggar on the street, in the end, we'll ask end up in the same place. But we don't because that life is not pleasant. There's nothing wrong with working towards a comfortable life, and in fact, everybody should. You don't want to be 70-80 forced to work a minimum wage job, and no about to take life easy, on your own terms
We all do not have 80 yrs get real
@@joeshmoe2746 yep, especially the typical consumers of the 4 food groups: bread. meat. potatoes. cheese. they have maybe 50-65 yrs
I didn't start making money until my 40's. You will make the most money in your life from 45 to 55. These are the crunch years.
Yeah because you've finally become mature enough to choose making money over chasing worthless women.
@@JuliusTurner-hm6ffThat to.
Excellent point!
@@JuliusTurner-hm6fffacts
I live in Thailand. I'm in my 50s. Worked hard , sold two businesses and a rental, and I live off a quarter of my passive income which is interest earned from savings in the bank. No other investments. Maybe it sounds like a dream life, but the truth is I'm bored and looking for a new opportunity and challenge. And I am not permitted to work in Thailand.
You are not permitted to work in Thailand?
@@bachataintimate3726a lot of visa requirements bar you from working in the country (depends on the visa). This doesn’t apply to just Thailand.
@@Spykedjadedragon Thank you for the explanation
sounds like you are at least living the dream
@@YouGotOptions2Theres a saying whether youre rich or poor the thought you have is ‘so what’s next?’
Anyone who buys coffee by the cup instead of making it on their own ain't broke.
Coffee isn't going to change your net worth.
Mostly. true.
Isn't he traveling? I've been living paycheck to paycheck for my entire adult life, but I'll buy a coffee if I'm on the go...
@@andyholder6039Damn!
Damn! Dude ain't broke if he can take a 3 to 6 week vacation to Thailand.My 6 week vacation to Thailand is upcoming in December.
Solid content. The way you build wealth is to make more than you spend then invest the difference! A real simplified explanation but a formula that works.
It's crazy realizing that we have to come to grips with the idea that most people will never have enough money to feel like they have enough. I'm 27 and feeling like I need an another 20k put up to be able to feel like I can relax enough to do whatever I want in life. But in reality money is still an exchange for our time and I really don't want to wake up at 35 and realize that money wasn't worth the best years of my life. I guess the grass is always greener on the other side. In your 20s you feel left behind if you haven't married a fun girl or accomplished or explored major career endeavors. We need to focus on giving ourselves permission to do whatever we want, because in the end that's the only thing that will fulfill the individual. Just my opinion
You're the person that's going to be applying for grocery bagger jobs at 60. #yolo
You're in the wrong group pal! @@foggycraw6758
35 is your prime
The sky in the background is so interesting.
It's like each part of the tree has a different sky.
We are all broke 😭 you’re okay
I've never found anything really beneficial from those side hustle videos. Some require too much of your time and barely producing any income
Yeah mostly scams!
How about travel hack,? I churned credit cards for 3 years, and flown for nearly free every time, flew for free from SFO to Finland 3 times. And could’ve been a free flight to Hawaii, but changed my mind twice on it and instead just got a bunch of gift cards for gas that paid my gas for 2 years for free.
@@Kenya1984 I have been doing travel hacking for a few years now so I get to fly for free but I still would like to actually make extra money that can help pay some of the bills.
Even OnlyFans?
Tim, as usual…amazing video!! I’m only 24 but I really feel the same way as you. I was wondering if you’d be able to make a video talking about why you don’t need a car, and benefits of not having one. I’m sick and tired of everyone in my life forcing me to get a car and convincing me I’m a failure & behind in life if I don’t own one. I just prefer walking, public transit, etc.
I also love how much money & stress that I save haha
I did the same, partied in my 20s, traveled in my 30s, and now thinking more long-term. Not broke but no real assets or savings. And to be honest, we are overdue for a crash in housing and stocks, so I don't think all the people who spent all this time investing are going to be that much better off at the end of the day, so no regrets.
Tim, thank you. Wonderful information. This video is one of the examples why I love you and your content. I seriously appreciate your honesty, your advice, and for always sharing with us. Hope you're having a great weekend ❤
Great video Tim! I look forward to more videos on this topic.
Thank you for sharing your thoughts.
Your book list is spot on for you hahaha. Love Jim Rohn and stoic philosophy 🎉The subtle art of not giving a fuck, goes with your philosophy.
6:15 Action steps towards change. Thank you, Tim!
I'm 62 and am enjoying your video and the great advice that you are sharing. Btw I started my investment journey late in life, but would like to say that, starting late is not a show stopper, but the beginning of generational wealth.
You're rich with life and health bro! Free living... Do you and be present in the moment
I was broke in my forties playing with student debt and mortgaging a 1960 house. Got serious and paid off student loan in 2016. Sold house in 2021.
Now I'm debtfree, working per diem as lab tech. (Considering working full time again)
Yes, I've been self-studying investing for quite a while. Lots of information in books and UA-cam. No more excuses if you live in the United States of America.
congrats :)
cool! did you sell your home because of the debt? Do you rent now?
Damn! I am using 4 to 5 figure lab tech contracts to fund my 5 vacations abroad.
Tim you are a wise man... timing is ripe for new ventures, especially with all that change coming. Your buddha nature always shine through 😊
Thank you!
Solid stuff. Keep it going.
Everyone I know works to pay the man and lives paycheck to paycheck. Living life and not working yourself to death seems like a much better alternative.
it does....but you need money
Preach professor Tim!
In my opinion, once you learn the basics of money management and finances, it becomes real easy to keep up on it. The main goal is to bring in more money than you spend. Once those numbers work out, then you can start to dig your way out of debt, and/or make money.
Yes. Cashflow left over..
Thank you for this video :-)
Honest talk
Appreciated!
Thanks!
Thank you for the support! I really appreciate it 👍🏾 Stay blessed!
WE SPEND FASTER THAN IT COMES IN - A VICIOUS CYCLE
Good said Tim 👍... But this financial system sucks... In 6 years the prices for flats in my capital went up for 100 % but wages stayed the same. This system is only built for rich people to get even richer. There could be no poor people on this planet if rich people would not be so selfish.
This conversation is sooo needed!
Tim your so refreshing ❤. I too have reached my early to mid 50s im following my passion. Im very frugal. I do not overspend...WHY??? You can live the most simple life, and be happy. We have to get out of this 🐑 sheep mentality, and falling for the ookie doke
I'm really looking forward to watching your journey unfold! Love your videos.
Just turned 49 a few weeks ago. I feel fortunate to have a good job and two kids that I have a great relationship with. I took a whalllop of hit financially when I got divorced four years ago. I was married 18 years and she didn’t work, so the price tag was steep. However, now I am happy and slowly rebuilding. Day by day.
Everyone has to enjoy it and be grateful. It can always, and I mean always, be worse.
Looking forward to those videos!
Keep it up Tim, keep us posted 😌
I'm 42 with $76k in debt from student loans, getting divorced (she didnt take anything but we split the house sale proceeds), airbnb investing, and living beyond my meager means ($20-30/hr work). I'm done living in debt! I can't even afford an apartment now so I live off grid in a cargo trailer I'm converting into a tiny home. I pay about $2k/mo towards debt. BTW My high school daughter did take a personal finance class at her public school.
Tim, I agree with you we need to teach kids about paying themselves first, saving with a High Yield Savings account , and investing in stocks and bonds. I told some of my last year 8th graders about how they could start investing with the Stash app.
I ended a seasonal job in September had about $6000 and my credit card went to Thailand right before you I came back broke and credit card maxed out I have no car no job and crashing on a friends couch got a job can’t start til November 4th seems like your always right on my trail Tim hope I don’t lead you astray but at least we know how fun Thailand was 🎉
You sound dumb wow
Those "The average middle aged homeowner has around $700k in savings" articles kick my ass. Lol.
Thanks for the video! It's great having voices like yours out there in a sea of voices all about making more money! I quit my high stress tech job a year ago and things have been amazing since: better relationships, more happiness, more calmness. But definitely more broke 😂 Still have to make some money, but can focus more on life. Worth it!
The best financial advice I can give is this: Whatever retirement fund/s you are contributing to, make sure that your contributions are automated. This way, you don't even count on that money. Eventually, you don't even think about it. If you have not already done this, then set a future date (set daily or weekly alarms on your phone as reminders) to ensure you take action on this. Nothing is going to happen for you if you don't take action. All the best to you! 💯
Looking forward to the next one. Financial literacy is my new obsession.
I dont trust investing. I save and remain debt free. I don't want to give these corporations any more money to use against us.
So many folks have been scammed by investing. I don't trust it either.
This! The weight of their indiscretions is all over that money!
This! The weight of their indiscretions is ALL over that money!
I feel you but I would still put a small amount of money into an ira tax free when you take it out at 59 1/2
You are blessed now sir 🎉 Furthermore general reforms and finance merge ....
He’s the definition of not planning your life out just going with the flow mindset I could never
🤣🤣
It’s a learned behavior 😂😂😂
Can't take any of this "stuff" with us on the way out anyway.
I am feeling down and need a Tim video.
You are correct about people that advice people in the internet e.g. you tube. Be careful with these people about buying their courses on about CRYPTO currency, bit coin, real estate investment. I guarantee you guys, you won't learn a thing and they will make the money.
True advise here. This is what I did. I am 53 now, paid off my car recently and have at least smth saved. Not too much, as I am German and in Germoney you do not earn much and cost of living exploded lately. But it's enough to not feel totally broke anymore. Considering where I started after divorce and paying 2 x child Support some years ago. I am now relatively rich 😂
I noticed spending habits is a big one. It's not how much you make, its how much you save. That's not just one of those cliches. I know so many people that no matter how much they make they're always broke. If they're making money they're spending. If they ain't making then they're living on credit.
Hey Tim, first comment, keep it up, love your vids
@@MontanaSlacks actually I beat you by 1 minute😆
Correction....2 minutes
I was first
Sending you love, Tim! Love your uploads. Cheers!
Thank you! Sending love right back to you!
I love this video thank you Tim 🙏🏼 Never had anyone to teach me about finances so I’m looking forward to this series thank for continuing to create and be a beacon of light in the world 🙂🙏🏼🙏🏼🙏🏼
🧡👍🏾
Great advice 👍i just paid off my last 8,500 in one shot 2 months ago to clear out a looonng time debt and i live below my means always i was able to catch up when i got a good job 9 years ago and went 2 percent up on my retirement,No credit card debt i don't use credit cards unless i need to buy something then pay it full near the ending of the month to continue enforcing my credit.
Just want things to become great again...with the costs of things ar least.
Just found this channel... very nice! I would only say you don't have to "save first", that is basically saying you need to hold a depreciating asset first. You should hold sound money (i.e. Bitcoin), or invest in equities
Bitcoin and equities can depreciate too.
There are only two sides to the equation save more and spend less. It's really a very simple concept and difficult for people to do because both require sacrifices. It gets more complex when it comes to where to save and grow your money and what you will give up to spend less and/or earn more money. It's not really a math problem, it's a personal responsibility/fortitude problem.
My issue with investing was the fact that I’m participating in the system that I don’t believe in, esp. index funds are based on huge companies that I would rather not support. Maybe you’ll have an answer for that Tim…
I think about that too Victoria…
The fear mongering is ridiculous, I actually laughed out loud when I read on a financial forum that a 50 y/o only had $750,000 saved for retirement and they were formulating a plan of action... I was thinking, if this person is worried, then I should be in panic mode, but I'm not because I see through the programming of keeping people on the treadmill.
Well, I’m “broke” on a technicality in the sense that I have assets but no cash flow. Long story short I ended up this way because I had a boss that had an unhealthy outlook on me and I got injured on the job and had to leave because I wasn’t willing to sleep with anyone to keep my professional job. Since then I’ve struggled to get back to making that type of money and none of the educational ventures I went into yielded anything fruitful. I’m on my last leg in terms of maybe, at this point,just accepting my faith.
Saving is hella easy if you have a bank that has the save your round up feature from your purchases. And also save 20% of your direct deposits. Set it and forget it.
Add to that, deposit your savings in a High Yield Savings account, and learn about the value of Compounding.