Last week was the 2 year anniversary of the completion of our debt free journey. No debt and our home paid off. We are all in investing on our 401Ks and brokerage accounts and a year + expenses in savings. This is the best way to live!
Agreed. But make sure you really lean into your investing. good formula to know you are investing enough is: (Age x income) ÷ 7 = How much you should have in investments.
*with over 10 years of tra ding experience, Mr Ricky has gained himself a good reputation by helping a lot of persons build their finances' through investments🇺🇸*
well to be fair by the time youre 55 you really shouldnt need to be budgeting. by that time you should have a good skillset that pays well and a large nestegg to fall back on. i feel like budgeting is over used. once you build the habits of saving and you have a solid income budgets become way less necessary.
Kudos to you Leila , that is not easy getting people to open up about finances , and kudos to the two young people who seem to have a plan for their future .
This isn't directed at you... just a response to the sentiment of your comment. The Dave Ramsey philosophy of never getting a credit card is outdated boomer logic. It's not "commendable", it's very "sub-optimal" and short-sighted. There's NOTHING wrong with having a CC as long as you use it responsibly. If I told you I would give you a permanent 1%-3% discount on everything you buy (as long as you pay off your purchases every month - so things you can actually afford, like a real grown-up would) while you ALSO get the benefit of having a productive credit score to help you buy the BIG things you'll need (like a home or car) that you wouldn't be able to pay for up-front (like the MULTI-MILLIONAIRE Dave can), you would be a moron to not take it. It's only the immature, irresponsible, and financially illiterate people who shouldn't have and USE credit cards. Be a responsible adult. Have a little discipline. I wish people would stop pretending like the credit card is the problem. It's not - their BEHAVIOR is.
@ He’s currently in the job market/unemployed, so a credit card would not be a good idea if he doesn’t have the income to pay it. Hence why it’s commendable that he didn’t get one. I’m not against credit cards, but I am if someone doesn’t have an income to pay them.
@@OweEyeSea It's not like one example exemplifies, justifies, or absolves anyone for anything. Lots of people get things from others. Are we really going to isolate EVERY single individual example of someone getting a "thing" from someone else, and then use that to justify anything?
@@force_majeure4070 FACTS!!! Avoiding a credit card isnt commendable necessarily because you miss out on the benefits that come from using it responsibly!
My wife and I paid off our last consumer debt a few days ago. 30 month journey and we used the baby steps and Dave Ramseys method. Idk if it’s worth it yet but I know I get to keep 3 out of 4 paychecks out of the month now so we will see 😊
Yes! Pay off debts first! Love the first guy! He knows Ramsey Solutions. The first one knows and take it to heart to follow the baby steps to get free from broke
My general conclusion on this is that 1. Don't be afraid of debt for housing or education as those can pay off. 2. Focus on your career and your partner, they are your biggest investments that you have control over. 3. DCA your stock investments into ETF's. 4. Do this for 40 years and you will be fine. 5. Live within your means.
Great video. I've watched other personal financing channels, and this is my first time watching one of your videos. I think your interviews were insightful and done pretty well - especially being your first time. Kudos 👏
Age of credit is one factor of your credit score. Get a credit card or two. Use them once. If you can't pay your bill in full each cycle put the cards up or destroy them but do not close the account. It's only if you realize you can't control impulse spending that you should not carry a credit card. Responsible use of cards will increase your credit score and open doors for future credit purchase. Credit scores are a game, learn the rules of the game and you will increase your score. No or little credit under your name is a handicap. Interesting video, good job.
@@hubster4477 In a way you are correct but a good credit score rather than no score will benefit most everyone. Credit scores play into many things. Even employment in some cases, plus cost of insurance to name two. Not having credit will effect you in more ways than it seems like you realize. If you don't have a credit history it is hard to get credit. Insurance companies hesitate to write you because they may think you will submit a false claim. Employers may not hire you because they think you may steal. It's a game easily played. "After the house" ... "after" being the key word. Having a good credit score will help you get a home loan or rent an apartment.
I went back and watched (and LIKED) the first video. You ask really good follow-through questions and did so in a very organic and in tune way. Good job!
I enjoyed the video a lot. It's nice to see younger people making smart decisions and how the older gentleman advised against trying to time the market. Great tips 🥰
Use a credit card for everything, transactions can be disputed if fraudulent, and allows you to build credit ( which I don’t believe in ) but it mainly allows you to reap benefits IF you pay the statement off every month. Your buying food and gas no mat what, so just use it to take advantage of the system. Keep your debt low and your income high
Yup. I charge utilities, everything, to rewards cards and pay off every month. I usually get back well over $1000 a year in rewards. Let your purchases work for you 👍🏻
I've never had a credit card and it was easy to get a mortgage. You dont need a credit card or a high credit score to get a mortgage on a house at all. Most providers dont care at all.
I have a few just for the cash back, but the whole credit card thing to build credit is an old belief that is still alive and well for some reason. You absolutely do not need them. I’m older and am financially established, and I don’t pay one cent in interest, ever, but that is not most people. I would tell younger folks to be very cautious with them and only get one if you are 100% confident you will never miss a payment in full. Meaning you should never spend a dime on interest. The rewards are a nice gift, but they aren’t going to make you rich. Investing makes you rich.
I'd beg to differ, my credit score was the only thing that got me my mortgage at a young age. Try getting a mortgage at 23 with no credit score. My credit union with all my financial history (including a paid off auto loan) wouldn't even try to pre-approve me. 10+ lenders said not a chance. Finally got one to say yes and they made sure to let me know my 800 credit score was the only reason they said yes. I've also read some comments that echo mine. If you're gonna do it young, you definitely need it.
One thing that occurred to me is that the advice to "live below your means" is good advice but leaves out that you should be very slow to let your spending go up, even when you get a big increase in pay. This is especially important for expenses that you get locked into for a long time, like a mortgage or a car. For instance when I bought my home I didn't think about how much money I could possibly borrow with my salary, or even how much what I wanted in a house would cost. Instead I figured out how much I could earn if I had to go back to unskilled labor, and based the maximum mortgage I would take on that. So if I lost my job and had to take whatever job I could get, I would still be able to pay the mortgage. That situation would obviously not work for everyone everywhere, but the principle is to keep your cost of living much lower than you absolutely have to. By doing that you can more rapidly build up a large savings account to cover six months of expenses and then start investing towards retirement or whatever other dreams you have. And if you lose your job and can't get another with similar pay quickly you'll be able to last longer before getting into serious financial difficulty.
People should start by buying a condo then they can upgrade to a house later. There is neither need nor sense to get everything right away if you cannot pay for it.
These are great! It's nice to see the "how much do you make" videos, but that only tells one side of the story. It's much more helpful to hear about the debt too.
Yes, privileged as a parent to do that for your child. I already have a Roth IRA set up for my 12 year old. She will then pay into it once she has a job. I already told her how this will be worth around $9-13 million when she retires. Start them young.
Good job! Good to see you hitting the streets. I also talk to people about finances (or try too) on my commute to work. People know they overspend -- but they just like the "things" too much.
Great video! You made everyone comfortable during what would normally be an uncomfortable subject to talk with strangers about. Off subject question, where did you get those shorts? I have the toughest time finding shorts that fit like that and we're a similar build.
The Venture X card gives you $300 in travel credit a year and then $100 every anniversary so it pays for itself. Then 2x miles on every purchase and more miles for travel purchases!
You should definitely get a credit card as early as you can. Get one with rewards. Set a monthly budget you can afford. Use your credit card to pay for your expenses, pay your total balance every month. Get rewards and don’t carry debt, build your credit in advance so when you do eventually need a loan someday you’ll get the lowest APR and save a ton of money in interest payments.
I made the same mistakes as that teacher, in and out trying to time the market. The only time that I was right was 2008. I would have a lot more if I had just put it in and forgot it. One other suggestion. If you have responsible parents and a good relationship, your parent can put you name with them on their credit card, even if you dont have access to the account. When they make their payments it builds your credit. That only works if your parent is responsible though.
Interesting video! I run my own investments and have been doing better than pro financial advisors (who worked for me in the past, or for relatives currently). Thus, I disagree with the gentleman who advises "leaving it to the pros" on 11:28. It depends on your skills, research and self-control.
If you dont have a credit history just get a prepaid debit card. I got the visa petal card. I had it for about a year and a half now and my credit score went from like 300 to like 720.
You should set up the 23 yr old who doesn’t have CC & planing to go to Law school with the 22 yr old with no debt and pays off her credit card monthly, who is a PhD student 😅 They’ll be power couple in the future!
Was hoping to see some of my friends in Atlanta get interviewed but no such luck. I agree with the last guy - don’t dick around trying to outsmart the market. Just be the market.
@@PersonalFinancewithLeila I'd highly doubt they'd want to disclose the details of their wealth (that's why I was hoping you caught them in an 'unguarded' state). They're probably in the same range as the 55-yr-old gentleman you interviewed - maybe slightly higher albeit younger. There really is no benefit to letting anyone know their wealth situation at that level other than a very momentary flex. I'm surprised that gentleman shared as much as he did but I agree 100% with everything that he said. He's one of those "everyday millionaires".
I don't ever use my 825 credit score, matter of fact I stopped using credit cards over a year ago and am waiting for it to disappear. I'll just do manual underwritings and pay cash for everything, life is so much better being debt free.
I’m basically the last guy, just a dozen years younger. Same pay, similar investment trajectory, but all in accounts I can’t access until 59 1/2 and not sure I want to wait that long to retire. His plan of waiting until 65 got me thinking about leaning in hard to the FIRE movement these next few years in (non-retirement fund) ETFs I can access before 59 1/2 if markets dip due to changed politics. I’ve gotta think that since markets are at all time highs, they’ve gotta dip at some point and maybe changing policies could be the catalyst for a market reset. With Warren Buffet increasing Berkshire’s cash holdings more and more in recent weeks, I’ve gotta believe others are thinking a market slump/reset is at least a modest possibility. Buckling in to see if market discounts are on the horizon.
32 Started working at 29 No debt. Investments $55,000 Savings $18000 Total net worth $73,000 I save more than 50% of my salary because I lucked out on a cheap apartment that's just 25% of my paycheck.
People are very understandably sensitive about money, but it shouldn't be taboo! Wealthy people talk about money all the time, and the idea that it's faux pas to do so only hurts us, because we don't learn financial literacy without practice.
Everyone says "don't live beyond your means", no one talks about gaining more "means", its easy to focus on the expenses side of "income - expenses= net worth" not so easy to talk about the other bit in the equation.
You will gain many viewers if you follow the Hammer Blue print. People love financial content when you bring in normal people and their situation. Ramit is more helpful to the guest, but hammer brings in the audience.
Wrong. Get a credit card use it only once a year to buy someone a gift. Pay it off that month. Keep that credit card the rest of your life. Credit score is based on how long you have had credit for. Have had a Discover card for 25 yrs. My score is 840 no debt own 2 homes.
Getting random people on the street to talk about this stuff is really powerful. Well done.
Also dangerous too
It helps an avg looking female doing the approach. A guy would have 10x lower interview rate.
These people are nobodies. Plus, I’m sure 1K people ignored here.
That last gentleman delivered the goods.
Last week was the 2 year anniversary of the completion of our debt free journey. No debt and our home paid off. We are all in investing on our 401Ks and brokerage accounts and a year + expenses in savings. This is the best way to live!
Agreed. But make sure you really lean into your investing.
good formula to know you are investing enough is:
(Age x income) ÷ 7 = How much you should have in investments.
So if your income suddenly jumps by 20% you should suddenly have vastly more in savings? That formula is flawed. @jasonw8497
Don't simply retire from something; have something to retire to. Start saving, keep saving, and stick to investments.
I'm in a similar situation where should I look to increase income? Do you have any advice? What did you do? Thank you
I will recommend Ricky Wen Investing Services to you. He is good at what he does.
Did someone just mention Mr Wen!? Damn! You just made my day; what a coincidence.. I've worked with him for over 2years and I can tell how good he is
It's great to see you guys talking about Ricky Wen, This man changed the game for me. Good Man❤️
*with over 10 years of tra ding experience, Mr Ricky has gained himself a good reputation by helping a lot of persons build their finances' through investments🇺🇸*
Thank you to Leila's boyfriend for encouraging this!
The 8 minute guy doesn’t budget but he has a big shovel. He pays himself 1st and doesn’t finance flashiness.
well to be fair by the time youre 55 you really shouldnt need to be budgeting. by that time you should have a good skillset that pays well and a large nestegg to fall back on. i feel like budgeting is over used. once you build the habits of saving and you have a solid income budgets become way less necessary.
Kudos to you Leila , that is not easy getting people to open up about finances , and kudos to the two young people who seem to have a plan for their future .
The 23yo future law student (in the job market and has NOT fallen into the temptation of getting a credit card) is commendable!
This isn't directed at you... just a response to the sentiment of your comment. The Dave Ramsey philosophy of never getting a credit card is outdated boomer logic. It's not "commendable", it's very "sub-optimal" and short-sighted. There's NOTHING wrong with having a CC as long as you use it responsibly. If I told you I would give you a permanent 1%-3% discount on everything you buy (as long as you pay off your purchases every month - so things you can actually afford, like a real grown-up would) while you ALSO get the benefit of having a productive credit score to help you buy the BIG things you'll need (like a home or car) that you wouldn't be able to pay for up-front (like the MULTI-MILLIONAIRE Dave can), you would be a moron to not take it. It's only the immature, irresponsible, and financially illiterate people who shouldn't have and USE credit cards. Be a responsible adult. Have a little discipline. I wish people would stop pretending like the credit card is the problem. It's not - their BEHAVIOR is.
@ He’s currently in the job market/unemployed, so a credit card would not be a good idea if he doesn’t have the income to pay it. Hence why it’s commendable that he didn’t get one. I’m not against credit cards, but I am if someone doesn’t have an income to pay them.
But was given a leg up with a "hand me down car".
@@OweEyeSea It's not like one example exemplifies, justifies, or absolves anyone for anything. Lots of people get things from others. Are we really going to isolate EVERY single individual example of someone getting a "thing" from someone else, and then use that to justify anything?
@@force_majeure4070 FACTS!!! Avoiding a credit card isnt commendable necessarily because you miss out on the benefits that come from using it responsibly!
I am LOVING these!!! You're a natural!
Thank you so much!! 😊
I love these videos! So glad you are breaking out of your comfort zone 😊 Your boyfriend is amazing to support and encourage you - he’s a keeper ❤
👋🏻 thank you so much Katie 😊
My wife and I paid off our last consumer debt a few days ago. 30 month journey and we used the baby steps and Dave Ramseys method. Idk if it’s worth it yet but I know I get to keep 3 out of 4 paychecks out of the month now so we will see 😊
Yes! Pay off debts first! Love the first guy! He knows Ramsey Solutions. The first one knows and take it to heart to follow the baby steps to get free from broke
My general conclusion on this is that 1. Don't be afraid of debt for housing or education as those can pay off. 2. Focus on your career and your partner, they are your biggest investments that you have control over. 3. DCA your stock investments into ETF's. 4. Do this for 40 years and you will be fine. 5. Live within your means.
Overpaying for education is a big problem.
I loved this video, Leila! Would definitely watch more videos of this style if you choose to make them.
Great video. I've watched other personal financing channels, and this is my first time watching one of your videos. I think your interviews were insightful and done pretty well - especially being your first time. Kudos 👏
Thank you so much!!
Age of credit is one factor of your credit score. Get a credit card or two. Use them once. If you can't pay your bill in full each cycle put the cards up or destroy them but do not close the account. It's only if you realize you can't control impulse spending that you should not carry a credit card. Responsible use of cards will increase your credit score and open doors for future credit purchase. Credit scores are a game, learn the rules of the game and you will increase your score. No or little credit under your name is a handicap. Interesting video, good job.
No credit scores are not a handicap, after the house why would i ever need a credit card? To buy a camera? Phone? Car? Nope.
@@hubster4477 In a way you are correct but a good credit score rather than no score will benefit most everyone. Credit scores play into many things. Even employment in some cases, plus cost of insurance to name two. Not having credit will effect you in more ways than it seems like you realize. If you don't have a credit history it is hard to get credit. Insurance companies hesitate to write you because they may think you will submit a false claim. Employers may not hire you because they think you may steal. It's a game easily played. "After the house" ... "after" being the key word. Having a good credit score will help you get a home loan or rent an apartment.
Of course. Keep being a slave to the banks!
I went back and watched (and LIKED) the first video. You ask really good follow-through questions and did so in a very organic and in tune way. Good job!
Leila this is great info! I love the realness of the interviews with everyday people.
A great video Leila and Sebastian! Thanks for being so bold. It has been very interesting. And I love the activity on the Beltline.
so happy for you that this is getting so many views! it's all paying off :)
Love it! Great job Leila and Sebastian
When former biologist Leila says: “so what do you want to do with that?” 😂💀
Right?! 😂
Been following you loosely for the past year. This video is top-notch. Do more of these.
I enjoyed the video a lot. It's nice to see younger people making smart decisions and how the older gentleman advised against trying to time the market. Great tips 🥰
I really enjoy watching these!
Yes, please do more of these!
I really like these videos. It's a nice mix from your other videos. It's like salary transparent street- personal finance edition.
You are doing great! Please do more on this series! ❤
this is a great video, really enjoy seeing personal finance of every day Americans. great work
Use a credit card for everything, transactions can be disputed if fraudulent, and allows you to build credit ( which I don’t believe in ) but it mainly allows you to reap benefits IF you pay the statement off every month.
Your buying food and gas no mat what, so just use it to take advantage of the system.
Keep your debt low and your income high
Yup. I charge utilities, everything, to rewards cards and pay off every month. I usually get back well over $1000 a year in rewards. Let your purchases work for you 👍🏻
I've never had a credit card and it was easy to get a mortgage. You dont need a credit card or a high credit score to get a mortgage on a house at all. Most providers dont care at all.
I have a few just for the cash back, but the whole credit card thing to build credit is an old belief that is still alive and well for some reason. You absolutely do not need them. I’m older and am financially established, and I don’t pay one cent in interest, ever, but that is not most people. I would tell younger folks to be very cautious with them and only get one if you are 100% confident you will never miss a payment in full. Meaning you should never spend a dime on interest. The rewards are a nice gift, but they aren’t going to make you rich. Investing makes you rich.
I'd beg to differ, my credit score was the only thing that got me my mortgage at a young age. Try getting a mortgage at 23 with no credit score. My credit union with all my financial history (including a paid off auto loan) wouldn't even try to pre-approve me. 10+ lenders said not a chance. Finally got one to say yes and they made sure to let me know my 800 credit score was the only reason they said yes. I've also read some comments that echo mine. If you're gonna do it young, you definitely need it.
If someone walked up to me like this I would not reveal anything
Americans are next level stupendous, bravo
This was great! You're breaking the stigma.
Please do more of these! This is great content!!
Excellent video, great conversation with the last guy about where to put your money, index funds versus trying to predict the market
I like these interviews w/ real people.😊❤😊. The guy not budgeting totally tricked me.
Keep going, would love more content seeing people talk about their debt and savings - love this
You did good. Do some more!
The last guy was awesome!
Please do more of these types of vids! This is awesome! 🤘 You're a natural!
Thank you so much! I definitely will, gotta wait for some warmer weekends!
You should do more! Great Job Leila!
Great video! I live in ATL as well and always wonder what industry people are in, esp higher income earners. The last guy spit some gems!
One thing that occurred to me is that the advice to "live below your means" is good advice but leaves out that you should be very slow to let your spending go up, even when you get a big increase in pay. This is especially important for expenses that you get locked into for a long time, like a mortgage or a car.
For instance when I bought my home I didn't think about how much money I could possibly borrow with my salary, or even how much what I wanted in a house would cost. Instead I figured out how much I could earn if I had to go back to unskilled labor, and based the maximum mortgage I would take on that. So if I lost my job and had to take whatever job I could get, I would still be able to pay the mortgage.
That situation would obviously not work for everyone everywhere, but the principle is to keep your cost of living much lower than you absolutely have to. By doing that you can more rapidly build up a large savings account to cover six months of expenses and then start investing towards retirement or whatever other dreams you have. And if you lose your job and can't get another with similar pay quickly you'll be able to last longer before getting into serious financial difficulty.
People should start by buying a condo then they can upgrade to a house later. There is neither need nor sense to get everything right away if you cannot pay for it.
@jocelynpouget6133 I'm currently saving to cash flow a house I have 14 years to go
@@jocelynpouget6133 Agree "starter houses" nowadays are huge compared to the needs of a starter family.
Really nice video, I do love to hear honest comments from real people, particularly those doing well 👍
Loved this video!! :) This was really interesting!
These are great! It's nice to see the "how much do you make" videos, but that only tells one side of the story. It's much more helpful to hear about the debt too.
Very positive and always informative regarding financial advice
Love it! Great video Leila and Sebastian!😊
Just found your channel, awesome video. You just gained a new sub.
Enjoyed and subscribed. 😊
LOve this hope to see this turn into a series! As a GA resident it would be cool to even stumble on this one day!
I'll be sure to announce the next time I'm filming at the Belt line!!
I avoid paperwork like the plaugue so it never occured to me to apply for a credit card. All my credit came from car loans.
You're privileged if you have parents financially helping you out and creating money market accounts for you.
It should be normal. It shouldn't be thought of as privileged.
lol yup
And you’re privileged for being able to type that comment!
Yes, privileged as a parent to do that for your child. I already have a Roth IRA set up for my 12 year old. She will then pay into it once she has a job. I already told her how this will be worth around $9-13 million when she retires. Start them young.
If I was approached and asked about my personal finances, I'd hesitate, then say "Well..... maybe.... but you'll have to buy me dinner first!" 😉
Thanks, I enjoyed this!
Hurry! Love these videos! Let see how it goes!
Good job! Good to see you hitting the streets. I also talk to people about finances (or try too) on my commute to work. People know they overspend -- but they just like the "things" too much.
That first guy has it gonin on if he holds to his plan 💪🏻
great video! Could you please make a video about cost of leaving in your area with house prices and rent!
Great video! You made everyone comfortable during what would normally be an uncomfortable subject to talk with strangers about. Off subject question, where did you get those shorts? I have the toughest time finding shorts that fit like that and we're a similar build.
Thank you so much! Hollister! Ultra high rise 90s denim shorts, they're the best!!
@PersonalFinancewithLeila Thank you so much!!
This is cool & you’re doing a good job.
Thank you!!
The first guy should get the fizz card. It helps build credit without spending more money than you have.
First guy is going to go far!
He has no savings. He'll be paying off law school debt for 5 to 10 years. But good luck to him.
Wait $395 fee is worth the points? What does that mean you have to spend on a monthly basis?
The Venture X card gives you $300 in travel credit a year and then $100 every anniversary so it pays for itself. Then 2x miles on every purchase and more miles for travel purchases!
“2x miles on every purchase” could you give examples of that in terms of dollars, miles, just in context I understand?
You should definitely get a credit card as early as you can. Get one with rewards. Set a monthly budget you can afford. Use your credit card to pay for your expenses, pay your total balance every month. Get rewards and don’t carry debt, build your credit in advance so when you do eventually need a loan someday you’ll get the lowest APR and save a ton of money in interest payments.
Be a bank slave as early as you can.
Great video!
I’m very open about finances and live in the Atlanta area. Would be happy to have a chat anytime!
I made the same mistakes as that teacher, in and out trying to time the market. The only time that I was right was 2008. I would have a lot more if I had just put it in and forgot it. One other suggestion. If you have responsible parents and a good relationship, your parent can put you name with them on their credit card, even if you dont have access to the account. When they make their payments it builds your credit. That only works if your parent is responsible though.
Wasn’t he a data analyst? Where did you get teacher from?
@mplslawnguy3389 You are correct I am not sure where I got the teacher from.
Interesting video! I run my own investments and have been doing better than pro financial advisors (who worked for me in the past, or for relatives currently). Thus, I disagree with the gentleman who advises "leaving it to the pros" on 11:28. It depends on your skills, research and self-control.
Great video keep it up
Never give up!
good video!
Awesome video thank you
Keep going! You can do it
If you dont have a credit history just get a prepaid debit card. I got the visa petal card. I had it for about a year and a half now and my credit score went from like 300 to like 720.
You should set up the 23 yr old who doesn’t have CC & planing to go to Law school with the 22 yr old with no debt and pays off her credit card monthly, who is a PhD student 😅 They’ll be power couple in the future!
They are a couple!! 🤣
Dave Ramsey is the man!!!
That was good. Keep it up.
Guy in his 50s was great. He could retire now, but he shared wise tips.
Was hoping to see some of my friends in Atlanta get interviewed but no such luck. I agree with the last guy - don’t dick around trying to outsmart the market. Just be the market.
Would your friends answer finance questions for a video?? 👀
@@PersonalFinancewithLeila I'm not yet a friend of @skylinec83 but I think I would probably answer your questions.
@@PersonalFinancewithLeila I'd highly doubt they'd want to disclose the details of their wealth (that's why I was hoping you caught them in an 'unguarded' state). They're probably in the same range as the 55-yr-old gentleman you interviewed - maybe slightly higher albeit younger. There really is no benefit to letting anyone know their wealth situation at that level other than a very momentary flex. I'm surprised that gentleman shared as much as he did but I agree 100% with everything that he said. He's one of those "everyday millionaires".
I don't ever use my 825 credit score, matter of fact I stopped using credit cards over a year ago and am waiting for it to disappear. I'll just do manual underwritings and pay cash for everything, life is so much better being debt free.
I’d love to be on one of these episodes lol. Great vids!
I’m basically the last guy, just a dozen years younger. Same pay, similar investment trajectory, but all in accounts I can’t access until 59 1/2 and not sure I want to wait that long to retire. His plan of waiting until 65 got me thinking about leaning in hard to the FIRE movement these next few years in (non-retirement fund) ETFs I can access before 59 1/2 if markets dip due to changed politics. I’ve gotta think that since markets are at all time highs, they’ve gotta dip at some point and maybe changing policies could be the catalyst for a market reset. With Warren Buffet increasing Berkshire’s cash holdings more and more in recent weeks, I’ve gotta believe others are thinking a market slump/reset is at least a modest possibility. Buckling in to see if market discounts are on the horizon.
I like these alot
Man I wish someone would interview me on the street about finances like this. But I am probably a bit unusual.
@antillie7 😂 I hear you. I’d be like, “Do you have an hour?”
I wish too!! 😂
Your entire channel could be this theme and I’d gobble it up. Think too many young people, though. Hit up the middle aged and old folks.
Dang I wish I ran into you here for this
CRUSHING IT!
Thanks Austin 😊
32
Started working at 29
No debt.
Investments $55,000
Savings $18000
Total net worth $73,000
I save more than 50% of my salary because I lucked out on a cheap apartment that's just 25% of my paycheck.
Someone tell that first guy he can get a credit card and just put like a candy bar on it every month.
People are very understandably sensitive about money, but it shouldn't be taboo! Wealthy people talk about money all the time, and the idea that it's faux pas to do so only hurts us, because we don't learn financial literacy without practice.
100%
Love these type of videos Leila. Really cool. You did great! You didn't seem nervous at all. Alexandria was hot 😍
People doing well are more likely to talk for a number of reasons.
Everyone says "don't live beyond your means", no one talks about gaining more "means", its easy to focus on the expenses side of "income - expenses= net worth" not so easy to talk about the other bit in the equation.
You will gain many viewers if you follow the Hammer Blue print. People love financial content when you bring in normal people and their situation. Ramit is more helpful to the guest, but hammer brings in the audience.
I’m so glad you are getting out of your comfort zone. It’s scary but that’s the only way to comité to grow 😊
More of this please!!
Why they always say not really to having debt then follow with saying they have all the debt.
Ramsey has a stranglehold on that first guy!
Haha bad or no?
@@llgoulet74yes bad. The guy is scared to get a credit card
@@stephenkuruczgetting a credit card isn’t needed. Don’t go into debt. Easy. Pay for things in cash
@@ryandueker5842 plenty of people can use a credit card responsibly. If you can’t, I agree it’s not for you.
@@ryandueker5842like a rented car or a hotel? Very crippling. Get one and don’t use it or just pay it off every month.
Wrong. Get a credit card use it only once a year to buy someone a gift. Pay it off that month. Keep that credit card the rest of your life. Credit score is based on how long you have had credit for. Have had a Discover card for 25 yrs. My score is 840 no debt own 2 homes.