My dad who’s very successful taught me two things. 1. Pay yourself first (invest) 2. Even when you think it’s enough, it’s not. So save more. At almost 50 I’m doing better than 80% my age. Kudos to dad.
So true. I like to think we (siblings & I) won the parent lottery. We had a great Dad who taught us personal discipline. But we specifically learned financial discipline from Mom. My siblings and I took 4 different career paths, with very different personalities, each under different circumstances. Yet all 4 of us are today: millionaires. Such things do not happen by accident.
Became debt free besides the mortgage last week(my wife and I) and it feels good I got paid yesterday and could actually save 50% of it and it’s all thanks to Dave Ramsey and his program
Yeah that’s possible, with Maria Frances Hanlon , I've come to the conclusion that financially anything is possible. I got my self my dream car 🚗 just last weekend and a whooping $320k biweekly profits
After I raised up to 825k trading with her I bought a new House and a car here in the states 🇺🇸🇺🇸 also paid for loans we got from the mortgage company . Glory to God.shalom.
@MikeW-xs8rf An old German immigrant once told me, "America is the only country in the world where money runs in the streets like water. All you need to do is figure out how to pick it up. " Old Freddie was wise man, may God rest his soul.
I work for a large bank. One of my team members is an older black woman who has worked for the same bank for about 35 years. When she was first hired, it was a low paying / minimum wage job and she had two kids. Her first manager told her to take advantage of the 401(k) program even though it would be a struggle financially. She heeded that advice and has not stopped contributing to this day. She has slowly moved up in the organization,, but isn't making close to six figures, however, she has continued contributing. We were talking about retirement and whether we were ready financially. She said that she had well over $1 million in her 401(k) now and felt as if she could retire at any time. The advice given on this video is sound, good advice that everyone should follow.
Contribute *even if* you have high interest debt. Getting into the habit of saving is just as important as getting *out* of the habit of excessive spending. It's a psychological equation, not just a mathematical one.
All people have essentially free accounts with Vanguard, Fidelity and Schwaab, meaning they can fully fund any type of self-funded account. There is in fact a path for the self-employed to arrange a self -4O1k ...look it up If you are self-employed and can't pay your electric bill. time to look for a second job
Consider diversifying your portfolio with a mix of stocks and stable assets. Seeking professional advice now could provide valuable insights and strategies to navigate market uncertainties and protect your investments.
Financial planning and retirement strategies are crucial, especially in today's economic climate. With global economic fluctuations and uncertainties, it's essential to have a solid plan in place to protect your financial future.
with the ever-changing global economy, tax laws and regulations can also vary, impacting how investments are taxed. It's essential to stay informed and plan strategies accordingly.
You need to get a financial planner or expert on investments to aid diversify your portfolio to commodities index funds, digital assets etc, to provide illumination and guidance in the financial markets.
Not necessary anymore. it's covered in most schools as part of the "home economics" type classes. If you hit age 18 and find yourself broke. It's time to Google "How do I save for the future" Then follow the thousands of websites and Blogs that show every possible way. Take notes and always ignore any politician.
9 out of 10 people don't have a written budget. That's a good start. With a written budget, you dictate to your money, not the other way around. Spend way less than you make helps too. Ramsey Solutions put me on track many years ago.
2 години тому+1
I've never had a written budget but I've also never had a problem saving, it was something I always wanted to do, even as a kid
Thats why you MAX OUT all 4O1Ks and retirement accounts. You have control over those if you choose to. Stop asking why and start doing what you can control.
You have control over what YOU do. Put money away in a Roth 401K (at least up to the employer match), and then if you can contribute to your own Roth IRA. Invest in a low cost index fund like the S&P 500. Contribute consistently, even if it is in small amounts. The first dollar you invest will be worth more than anything after due to compounding returns. Putting your head in the sand like an ostrich is no excuse saying that someone else gets to dictate what happens to your money. It is your money. It is up to you how you want to do with it. Invest it wisely and consistently, and it will reward you down the line and in retirement.
I retired at 61 . I had a pension through the Teamsters that became mature four months before my 62 birthday . I took my SS at 62 , but could have lived on my pension because I was debt free . The only regret I have about the SS is the fact you don’t collect 100% as you would at 65 , but the main regret is the fact that Medicare cost come out of your SS . So if a person can do without SS until 65 you should just so you can get the very maximum return .
Unfortunately, due to dollar devaluation, a person with a $40k income is equivalent to a millionaire earning 4% from $1 million which is $40k. Maybe we reached a point where people just work their entire life.
37 years ago I thought the same thing...putting $$$ into my company's matching 401k plan was a black hole...money I thought I might never see again. Wow...best decision I ever made. Automatic contribution directly from my paycheck...37 year...never missed it and now it's a retired life changer.
Glory!!! After so much struggles I now own a new house with an influx of $155,000.00 every month God has kept to his words, my family is happy again everything is finally falling into place. God bless America.
Yeah sounds impossible, yet with Christina Ann Tucker, I've come to the conclusion that financially anything is possible. I got my self my dream car 🚗 just last weekend and a whooping $320k in savings already, My journey with her started after my best friend came back from New York and saw me suffering in debt then told me about her and how to change my life through her. Christina A. Tucker is the kind of person one needs in his or her life! I got a home, a good wife, and a beautiful daughter. Note!:: this is not a promotion but me trying to make a point that no matter what happens, always have faith and keep living!!
I know that woman (Christina Ann Tucker) If you were born and raised in new York you'd know too, No Bingle doubt she is the one that helped you get where you are!!
I'm 65 going on 66. I plan to keep on working not because I need the money. But simply I need a reason to get up everyday. I don't play golf, nor do I like to travel at leas not very far from home, (I love being an American.) So all my friends are at work, so I plan to be there as well.
Love you Maria, but this is a good plan for some and i did it, saved close to two M before retirement but read rich dad poor dad. Wish that I had read this twenty five years ago. I wouldn’t have put a dime into a 401k. Better to put money down on a rental property and use after tax money to pay a mortgage and collect rent even at a little loss if you can. The debt and depreciation will pay you back at tax time, your asset if maintained will increase in value, the government will not mandate that you liquidate your assets like they do a 401k so they can tax you and you can pass this money maker on to your kids.
I know someone who decided put all his retirement money into some rental properties. Then the 2008 crisis came and he ended up losing losing both of his properties. He ended with no retirement fund and no properties.
Good content. I think investing can put you there. I’m grateful for the financial benefits resulting from the approval of Bitcoin ETFs. Thanks to your support, I am earning a consistent weekly profit of $3500, irrespective of economic conditions.
Same here, I believe the Bitcoin ETFs approval will be life changing opportunity for us, with my current portfolio made from my investments with my personal financial advisor 1 totally agree with you
She is my family’ personal Broker and also a personal Broker to many families in the United States, she is a licensed broker and a FINRA AGENT in the United States.
if all the crap with Covid didn't happen and Biden didn't get in, I wouldn't have had to withdraw from my 401K. literally drained it down to 20% of what it was. because of Bidenomics I was laid off twice and without work for 3 years. I've never been laid off before. lot of people like me... wasn't our choice.
People stopped funding retirement when they figured out that they wouldn’t be getting retirement or it would be pushed back so far, they would likely not even survive long enough to receive it. They decided not to pay into it when the government decided to take back their word that it is not a tax and they aren’t going to touch it.
You are confused, yes, sure the government messed up the social security system, but you are required to pay into that program. You state: "People stopped funding retirement when they figured out that they wouldn’t be getting retirement" I ask you. How does one choose not to pay into SS? But since most agree that SS fails it promise, would it be wise to save for your own retirement while you still can?
When I was working in the insurance and financial services business families were spending several hundred dollars on mobile phone plans and another couple hundred on cable bills. There was $500 a month going out the door that didn't need to. Understand the difference between wants and needs
In order to outperform market returns, an investor has to accept concentration risk. That is to say, diversification is for those who lack conviction and therefore are relegated to 7% historical annual returns after inflation. That path, which is advocated for by the "pros" will take you 30 years of saving and living beneath your means to retire just to live out your remaining years living beneath your means. I recommend younger retail investors go all-in on Tesla stock while the discounts last.
You know what a good investment is? It's spending 200 million to get someone elected president. The return? How about a doubling of your net worth roughly 200-250 billion increase . Yeah elon's lookin out for the little guy are you feeling that bump in his net worth in your everyday life? 🤷
Yep I’m feeling it, I own Tesla stock. Elon is smart, put his money on a winner. The billionaires that helped fund Harris’s 1.4 billion failed campaign put their money on a loser.
No! Many people in 2008 lost up to 40 percent of they're 401k. A fool and his money are soon parted. Save, buy CD's pick low risk investments if you must invest.
The fools you mentioned are the ones that sold in a panic at rock bottom prices. I guess you're a fool if you held that 40% lost in 4O1k, continued to buy stocks at an all-time low, ride it out to a dramatic increase in wealth. Remember you only lost if you sold in 2008... If you did not sell and purchased more, you are rich today
Ramsey plan makes sense for getting out of debt. Not the best investment advice (for a mass broad appeal; set it and forget it, sure). Also, would still tell anyone who has lower interest rate student loan debt to keep contributing to a 401k and/or Roth IRA while still paying off that debt. More time in the market = higher ending balance
Investing is no longer an option for younger generation. Saving of course is important, goes without saying. But if you don’t invest, the inflation will eat away what money you think you have. There is risk no matter what
My wife and I are multi millionaires and I would say we have 2 important income streams, between dividend/wage income and commercial rental income. we are Keeping it safe and aggressive using ETFs, I am retiring next yr at 57, My million dollar dividend portfolio payout total of $450,000 a yr to live comfortably, and its all because of my Financial Manager who handles activities in my Portfolio. ❤✅
Sincerely speaking I work with Essmildaa Morgan, and will continue to stick to her guides for as long as it works. She is well known, just look her up.
Sorry i dont buy it. 60% of everyone is in debt and will never get beyond living paycheck to paycheck as it has always been. 401K's Roth's are for state and government employees, union retirement is for the workers that work for the states or federal government. But the local small business person and your service repairman will never have anything but social security.
@OneWildTurkey You are correct! They are now sitters! Residents of entitlement, no longer creative, carrying on valuable work ethics! Churches conformed to the money changes, even hired attorneys to sue believers. That is against God's laws because believers were told to gather 2 or more witnesses to handle disputes. Private sector honors God and country, with Freedom and Liberty. Churches must return to be I ng the Head, not the Tail. It's time for Churches to invest within the community where the church reside, therefore serving neighbors with carpooling, affordable, cultural childcare, with fatherhood and morherhood, protections.
Went to a Dave Ramsey certified financial planner in Nashville in 2012 and he told us to sell our Tesla stock my husband had bought 2 years prior to pay off debt. We would be millionaires. Thanks idiot. Think for yourself and take this advice with a grain of salt.
The number one rule of investing is don't invest in 401ks or stock market...you don't depend on other people or companies to invest your money....huge mistake
The mistake is the info you state... 4O1ks and the stock market allow the owner to guild and invest as they choose, in fact most 4O1k plans make the employee choose where the money is invested
Maria it was my experience that when I gave 10% of my gross earnings to my poor little Pentecostal church family that God blessed me beyond measure and my 401k contributions and IRA plan never took a hit by bad events in the world economy disasters staring with OCTOBER 1987 crash then Y2K crash and then 2008 Crash and then Covid crash. During all of these events my investments were safe. God has given me much more than I ever put aside for the church and I was able to help out my neighbor. Every time I think about my retirement I think God has my money and “IN GOD WE TRUST” I will always remember who it is that guaranteed my retirement savings. God can do all things Ephesians 3:20-21.
Maria, you are giving out a good dose of common sense here & I agree, it starts at a very young age as you've experienced, myself included. The vast majority of comments I've read, simply don't get it! Before I reached the age of ten, I mowed lawns in the summer, raked leaves in the fall & shoveled driveways in the winter, I even mucked out chicken coops to earn money, in the 6th grade, I was the only kid in school that always had a 20 dolllar bill in his pocket, by the age of 12 I bought my first hunting rifle, a Marlin 336c lever action for $69.95 at the local dept store & still proudly own & shoot it! Before reaching the tender age of ten, I had already amassed my fortune of $500.00 by depositing it into my own savings acct with the local bank... Vermont here, Bill... 🇺🇸
Passively managed low-cost S&P 500 index funds Vanguard VOO VTI VT and a PCOXX account did it for me. Maxed out Roth IRA every year and kept money in High yield savings and since 1993......Retirement at 55!
We cannot chose which family we’re born into, fate decides, BUT we can chose to take control of our own life and make our own opportunities. The only person stopping you is you! Life is NOT fair! Get up and win anyways! Ps: Dave is a billionaire! With a B 😉 Choose to be inspired and not envious! God bless!
Cry in jealousy before you cope. Plenty of millionaires' daughters are broke, enabled, entitled, and helpless. She is none of these things. So what say you to that?
Do put $$ in yr 401k (best to park in money market for a correction), now is NOT the time to load on mutual funds, markets are way over bought. Do yr homework, and do not believe all the experts' advice; they PUMP and DUMP!!!!
I gained financial freedom way before 65 now working because I want to . My priority is my health , God , good family and good friends. Grateful I live in 🇺🇸 where building wealth is possible as an employee . 💗🇺🇸 thank you Maria Merry Christmas to you and your family 💗
My dad who’s very successful taught me two things. 1. Pay yourself first (invest) 2. Even when you think it’s enough, it’s not. So save more.
At almost 50 I’m doing better than 80% my age. Kudos to dad.
@@Dohair879 hell yeah
I guess you don't which begs the question, why did you watch the video?
@@CTBauertell me you’re the loser without telling me. I watch this I’m also a multimillionaire. Cry more 😂😂😂😂
So true. I like to think we (siblings & I) won the parent lottery. We had a great Dad who taught us personal discipline. But we specifically learned financial discipline from Mom. My siblings and I took 4 different career paths, with very different personalities, each under different circumstances. Yet all 4 of us are today: millionaires. Such things do not happen by accident.
what if you get repeatedly kicked in the face and fired for doing a good job?
Became debt free besides the mortgage last week(my wife and I) and it feels good I got paid yesterday and could actually save 50% of it and it’s all thanks to Dave Ramsey and his program
*$65k biweekly changed my mindset and behavior, my goals, my family and I've to say this video has inspired me a lot!!!!* ❤️
I'm feeling really motivated.
Could you share some details about the bi-weekly topic you brought up?
Yeah that’s possible, with Maria Frances Hanlon , I've come to the conclusion that financially anything is possible. I got my self my dream car 🚗 just last weekend and a whooping $320k biweekly profits
Wow 😱I know her too!
Mrs Maria Frances Hanlon is a remarkable individual whom has brought immense positivity and inspiration into my life.
After I raised up to 825k trading with her I bought a new House and a car here in the states 🇺🇸🇺🇸 also paid for loans we got from the mortgage company . Glory to God.shalom.
I got started with a miserly $2000. The results have been mind blowing I must say TBH!!
Things like this need to be taught in schools!
K through 12.
10% for the big guy!
Funny, everyone despises the top 1% but endeavors to be part of that same 1%.
I don't hate the top 1%...I always listened to their stories and did what most of them said "don't make excuses"....to not save
There is a difference between "despise" and "hate."
Takes money to make money though. Most people get that big lucky break in life called an inheritance or something along them lines.
@MikeW-xs8rf
An old German immigrant once told me, "America is the only country in the world where money runs in the streets like water. All you need to do is figure out how to pick it up. " Old Freddie was wise man, may God rest his soul.
I work for a large bank. One of my team members is an older black woman who has worked for the same bank for about 35 years. When she was first hired, it was a low paying / minimum wage job and she had two kids. Her first manager told her to take advantage of the 401(k) program even though it would be a struggle financially. She heeded that advice and has not stopped contributing to this day. She has slowly moved up in the organization,, but isn't making close to six figures, however, she has continued contributing. We were talking about retirement and whether we were ready financially. She said that she had well over $1 million in her 401(k) now and felt as if she could retire at any time. The advice given on this video is sound, good advice that everyone should follow.
Who cares?
@@RaymondYocum-uw5hdloser, then why are you on here?
Contribute *even if* you have high interest debt. Getting into the habit of saving is just as important as getting *out* of the habit of excessive spending. It's a psychological equation, not just a mathematical one.
The habit of saving is the most important habit you can develop.
Wrong saving acc at most 4.25 % interest . Invest s&p500 averaging 9 % a year diversified on crypto 5 % of your savings and invest in ai etfs .
Bartiromo is pure sense.
This is great advice. I agree 100%.
Self employed don't have a 401K. When you have to choose between the electric bill and groceries, saving is hard.
All people have essentially free accounts with Vanguard, Fidelity and Schwaab, meaning they can fully fund any type of self-funded account. There is in fact a path for the self-employed to arrange a self -4O1k ...look it up If you are self-employed and can't pay your electric bill. time to look for a second job
Self employed have IRA’s and SEP
Simple, live below your means.
Insider trading seems to help Pelosi
😂 off topic but point taken 👍😂👍
You can see her traded
. Don't cry just copy
Newsome too!
His companies have profited year after year because he is the governor.
Newsoem too, his companies made billions because he is the governor
I believe diversification is key
Consider diversifying your portfolio with a mix of stocks and stable assets. Seeking professional advice now could provide valuable insights and strategies to navigate market uncertainties and protect your investments.
Financial planning and retirement strategies are crucial, especially in today's economic climate. With global economic fluctuations and uncertainties, it's essential to have a solid plan in place to protect your financial future.
with the ever-changing global economy, tax laws and regulations can also vary, impacting how investments are taxed. It's essential to stay informed and plan strategies accordingly.
Honestly this cannot be overemphasized, helping people mitigate unforseen circumstances and mistakes .It's always good to have a financial plan,
You need to get a financial planner or expert on investments to aid diversify your portfolio to commodities index funds, digital assets etc, to provide illumination and guidance in the financial markets.
Step number one is actually to budget with emergency fund. Two, get out and stay out of debt, then third save for retirement
Personal finance should be taught in school…because watching our politicians sure doesn’t provide a role model…
Not necessary anymore. it's covered in most schools as part of the "home economics" type classes. If you hit age 18 and find yourself broke. It's time to Google "How do I save for the future" Then follow the thousands of websites and Blogs that show every possible way. Take notes and always ignore any politician.
9 out of 10 people don't have a written budget. That's a good start. With a written budget, you dictate to your money, not the other way around. Spend way less than you make helps too. Ramsey Solutions put me on track many years ago.
I've never had a written budget but I've also never had a problem saving, it was something I always wanted to do, even as a kid
Thats good advice, so easy to do
Why would you pay into something for your retirement if someone else gets to dictate what happens to your money?
Thats why you MAX OUT all 4O1Ks and retirement accounts. You have control over those if you choose to. Stop asking why and start doing what you can control.
You have control over what YOU do. Put money away in a Roth 401K (at least up to the employer match), and then if you can contribute to your own Roth IRA. Invest in a low cost index fund like the S&P 500. Contribute consistently, even if it is in small amounts. The first dollar you invest will be worth more than anything after due to compounding returns. Putting your head in the sand like an ostrich is no excuse saying that someone else gets to dictate what happens to your money. It is your money. It is up to you how you want to do with it. Invest it wisely and consistently, and it will reward you down the line and in retirement.
I don't understand this, it doesn't make any sense to me you are the one that has control over your money
First of all, 65 is not full retirement. It's 67 for people born in 1960 or later.
I retired at 61 . I had a pension through the Teamsters that became mature four months before my 62 birthday . I took my SS at 62 , but could have lived on my pension because I was debt free . The only regret I have about the SS is the fact you don’t collect 100% as you would at 65 , but the main regret is the fact that Medicare cost come out of your SS .
So if a person can do without SS until 65 you should just so you can get the very maximum return .
No , to get the very maximum benefit, wait ‘till age 70.
You should tell people,Maria. That Rachel is Dave's daughter.
Millionaires who did not make it on their own, but got hired by Dad, giving advice on how to become a millionaire. That is rich
It has no relevance as she worked her way up. Stop being jealous, illegal.
@@pep590sit down dude seriously you people are annoying just stop.
@@MikeW-xs8rf people that spout nonsense because they are jealous or uninformed are annoying too.
Unfortunately, due to dollar devaluation, a person with a $40k income is equivalent to a millionaire earning 4% from $1 million which is $40k. Maybe we reached a point where people just work their entire life.
I'm 59 years old I've been saving since I was 25 I'm not quite there yet but everyday I think about retirement.
37 years ago I thought the same thing...putting $$$ into my company's matching 401k plan was a black hole...money I thought I might never see again. Wow...best decision I ever made. Automatic contribution directly from my paycheck...37 year...never missed it and now it's a retired life changer.
Congrats on your gains
Four things to do with money, spend it, gift it, save it and invest it
401k ya gotta start in your twenties and hope to be employed consistently until you are ready for retirement
There has to be a #1 rule for those people who don’t have an employer 401(k) plan.
You can still open a personal IRA / Roth IRA. You can still open a brokerage account.
You'd rather take out life insurance, at least your wife/kids can become millionaires.
Glory!!! After so much struggles I now own a new house with an influx of $155,000.00 every month God has kept to his words, my family is happy again everything is finally falling into place. God bless America.
I'm feeling really motivated.
Could you share some details about the biweekly topic you brought up?
Yeah sounds impossible, yet with Christina Ann Tucker, I've come to the conclusion that financially anything is possible. I got my self my dream car 🚗 just last weekend and a whooping $320k in savings already, My journey with her started after my best friend came back from New York and saw me suffering in debt then told me about her and how to change my life through her. Christina A.
Tucker is the kind of person one needs in his or her life! I got a home, a good wife, and a beautiful daughter. Note!:: this is not a promotion but me trying to make a point that no matter what happens, always have faith and keep living!!
Wow 😱 I know her too!
Miss Christina Ann Tucker is a remarkable individual whom has brought immense positivity and inspiration into my life.
I got started with a miserly $1500. The results have been mind blowing I must say TBH!!
I know that woman (Christina Ann Tucker)
If you were born and raised in new York you'd know too, No Bingle doubt she is the one that helped you get where you are!!
Not "savers," but instead, "investors." I know it's semantics, but there is a difference.
Thank you Lord Jesus for the gift of life and blessings to me and my family $14,120.47 weekly profit Our lord Jesus have lifted up my Life!!!🙏❤️❤️
I'm 37 and have been looking for ways to be successful, please how??
Sure, the investment-advisor that guides me is..
Mrs Cathie wood
Her services is the best, I got a brand new Lambo last week and paid off my mortgage loan thanks to her wonderful services!
😱Sounds familiar, I have heard her name on several occasions.. and both her success stories in the wall Street journal!
I'm 65 going on 66. I plan to keep on working not because I need the money. But simply I need a reason to get up everyday. I don't play golf, nor do I like to travel at leas not very far from home, (I love being an American.) So all my friends are at work, so I plan to be there as well.
Those are great reasons to work. Good for you.
Now days, we retire because of health!!! Health is king.
Oh yeah can't wait for trump to gut the ACA and fully privatize Medicare! No more free rides!
When we finally retire, we ArevAll About Our Fathers Business, here on Earth! We love being Cheerful Givers and Peacemakers. Halaujah 🇺🇸 ❤
Good advice.
I've tried everything and everywhere done everything is only one thing that works
Love you Maria, but this is a good plan for some and i did it, saved close to two M before retirement but read rich dad poor dad. Wish that I had read this twenty five years ago. I wouldn’t have put a dime into a 401k. Better to put money down on a rental property and use after tax money to pay a mortgage and collect rent even at a little loss if you can. The debt and depreciation will pay you back at tax time, your asset if maintained will increase in value, the government will not mandate that you liquidate your assets like they do a 401k so they can tax you and you can pass this money maker on to your kids.
I know someone who decided put all his retirement money into some rental properties. Then the 2008 crisis came and he ended up losing losing both of his properties. He ended with no retirement fund and no properties.
Good content. I think investing can put you there. I’m grateful for the financial benefits resulting from the approval of Bitcoin ETFs. Thanks to your support, I am earning a consistent weekly profit of $3500, irrespective of economic conditions.
This has put my finances in great shape especially with the recent high price of Bitcoin and xrp . All I needed was the right advice
Same here, I believe the Bitcoin ETFs approval will be life changing opportunity for us, with my current portfolio made from my investments with my personal financial advisor 1 totally agree with you
YES!!! That’s exactly her name (Audrey Lauren ) so many people have recommended highly about her from Brisbane Australia…🇦🇺
I’m a long term investor, I withdrew my profits of over $61,000 during the Covid-19 pandemic.
She is my family’ personal Broker and also a personal Broker to many families in the United States, she is a licensed broker and a FINRA AGENT in the United States.
Self directed retirement is the worst thing to happen to working people.
“become a saver” just watch a few minutes of tv commercials and see this is the opposite. They want you to buy now and pay later
Self discipline isn't taught any more.
I can't wait to never retire!
if all the crap with Covid didn't happen and Biden didn't get in, I wouldn't have had to withdraw from my 401K. literally drained it down to 20% of what it was. because of Bidenomics I was laid off twice and without work for 3 years. I've never been laid off before. lot of people like me... wasn't our choice.
Wrong. The number 1 way to become a millionaire is to inherit
A penny saved is a penny earned - 1737 Poor Richard’s Almanac
People stopped funding retirement when they figured out that they wouldn’t be getting retirement or it would be pushed back so far, they would likely not even survive long enough to receive it. They decided not to pay into it when the government decided to take back their word that it is not a tax and they aren’t going to touch it.
You are confused, yes, sure the government messed up the social security system, but you are required to pay into that program. You state: "People stopped funding retirement when they figured out that they wouldn’t be getting retirement" I ask you. How does one choose not to pay into SS? But since most agree that SS fails it promise, would it be wise to save for your own retirement while you still can?
The key is to put your money where it's going to make you money at a rate faster than inflation. Savers lose wealth, while smart investors gain.
When I was working in the insurance and financial services business families were spending several hundred dollars on mobile phone plans and another couple hundred on cable bills. There was $500 a month going out the door that didn't need to. Understand the difference between wants and needs
Just because your invested into your 401 k. Make sure someone’s not withdrawing from your account.
Real estate is the #1 way to become a millionaire
What if the company I worked for went bankruptcy?
If you were contributing to a 401k plan it would be safe
How many sole proprietors have 401k's?
There is a solo 401K .
Everyone of them can have a self directed retirement plan.
Millionaire is the new thousandaire
Most millionaires do not have 401 k plans
That wasn’t the topic
Not true at all, not true at all. The book millionaire next-door debunks your LIE! AS does Dave's research. No one take advice from this broke guy
You forgot to mention that many people with 4O1ks have become millionaires
The number 1 rule is buy Bitcoin and avg. 63% per year.
BITCOIN at .10 cents ... Now it Quantum coins, buy em cheap boys.
saving is useless...unless you are investing with an interest rate that beats inflation, you are losing money
age 67 and 1/2 thank you for noticing
In order to outperform market returns, an investor has to accept concentration risk. That is to say, diversification is for those who lack conviction and therefore are relegated to 7% historical annual returns after inflation. That path, which is advocated for by the "pros" will take you 30 years of saving and living beneath your means to retire just to live out your remaining years living beneath your means.
I recommend younger retail investors go all-in on Tesla stock while the discounts last.
Not sure how you retire in this economy ever. I will have to work forever I'm 65.
Debt is a four-lettered word.
Conflict of interest?
Best to learn about money on yr own and never trust the "experts!"
You know what a good investment is? It's spending 200 million to get someone elected president. The return? How about a doubling of your net worth roughly 200-250 billion increase . Yeah elon's lookin out for the little guy are you feeling that bump in his net worth in your everyday life? 🤷
Yep I’m feeling it, I own Tesla stock. Elon is smart, put his money on a winner. The billionaires that helped fund Harris’s 1.4 billion failed campaign put their money on a loser.
And when the company go broke?
Latino for Trump 💜💵
No! Many people in 2008 lost up to 40 percent of they're 401k. A fool and his money are soon parted. Save, buy CD's pick low risk investments if you must invest.
A lot of folks on here may be too young to have lived through that period.
@@FrancoM7747 👍
The fools you mentioned are the ones that sold in a panic at rock bottom prices. I guess you're a fool if you held that 40% lost in 4O1k, continued to buy stocks at an all-time low, ride it out to a dramatic increase in wealth. Remember you only lost if you sold in 2008... If you did not sell and purchased more, you are rich today
@@ericlee2931 nail on the Head, best not to ever panic.
Ramsey plan makes sense for getting out of debt. Not the best investment advice (for a mass broad appeal; set it and forget it, sure).
Also, would still tell anyone who has lower interest rate student loan debt to keep contributing to a 401k and/or Roth IRA while still paying off that debt. More time in the market = higher ending balance
Im retired at 38
Rachel!
Teach your kids to be investors, not savers.
I think that's what she's implying.. 🤷♂️
@TerrisPizza She should specify.
Lol they always make it seem so easy. Everything cost too much argue with me and yes some people just dont invest
i know many that are claiming disability for one reason or another
Don't let anyone sign your checks
Tony Perkis sr
To bad retirement is 67
I have been semi-retired, as a Caregiver. I love being my own boss.
Investing is no longer an option for younger generation. Saving of course is important, goes without saying. But if you don’t invest, the inflation will eat away what money you think you have. There is risk no matter what
My wife and I are multi millionaires and I would say we have 2 important income streams, between dividend/wage income and commercial rental income. we are Keeping it safe and aggressive using ETFs, I am retiring next yr at 57, My million dollar dividend portfolio payout total of $450,000 a yr to live comfortably, and its all because of my Financial Manager who handles activities in my Portfolio. ❤✅
Amazing! thank you for sharing part of your experience. do you mind also sharing your how to find your Financial Manager ?
Sincerely speaking I work with Essmildaa Morgan, and will continue to stick to her guides for as long as it works. She is well known, just look her up.
Wow I work with Essmildaa also. She is my Advisor ! Last year instead of losing 20% I was down only 4%.
SCAMMERS 😂😂😂😂😂😂😂😂😂😂
So you have a "million dollar dividend portfolio" with a $450,000 a year payout. The math isn't mathing.
Save/Invest and quit making excuses....there's always an excuse yet there's always a way to put "something" away
Sorry i dont buy it.
60% of everyone is in debt and will never get beyond living paycheck to paycheck as it has always been.
401K's Roth's are for state and government employees, union retirement is for the workers that work for the states or federal government. But the local small business person and your service repairman will never have anything but social security.
We were taughtall of these financial things in our youth. None of this information is new.
"We" is a small group now.
@OneWildTurkey You are correct! They are now sitters! Residents of entitlement, no longer creative, carrying on valuable work ethics! Churches conformed to the money changes, even hired attorneys to sue believers. That is against God's laws because believers were told to gather 2 or more witnesses to handle disputes. Private sector honors God and country, with Freedom and Liberty.
Churches must return to be I ng the Head, not the Tail.
It's time for Churches to invest within the community where the church reside, therefore serving neighbors with carpooling, affordable, cultural childcare, with fatherhood and morherhood, protections.
Common maria
Went to a Dave Ramsey certified financial planner in Nashville in 2012 and he told us to sell our Tesla stock my husband had bought 2 years prior to pay off debt. We would be millionaires. Thanks idiot. Think for yourself and take this advice with a grain of salt.
No she's not right. Get ready.😊
Get into Politics and steal it.
You're being facetious I guess.
The number one rule of investing is don't invest in 401ks or stock market...you don't depend on other people or companies to invest your money....huge mistake
You are on crack
The mistake is the info you state... 4O1ks and the stock market allow the owner to guild and invest as they choose, in fact most 4O1k plans make the employee choose where the money is invested
You talk about saying?
Lotta excuses in these comments
Don't touch it.....good luck with that. Don't ever lose your job. Good luck with that!
SSI for the aged pays more than social security in some cases. The entire system needs to be overhauled.
The money comes from two different places.
Maria it was my experience that when I gave 10% of my gross earnings to my poor little Pentecostal church family that God blessed me beyond measure and my 401k contributions and IRA plan never took a hit by bad events in the world economy disasters staring with OCTOBER 1987 crash then Y2K crash and then 2008 Crash and then Covid crash. During all of these events my investments were safe. God has given me much more than I ever put aside for the church and I was able to help out my neighbor. Every time I think about my retirement I think God has my money and “IN GOD WE TRUST” I will always remember who it is that guaranteed my retirement savings. God can do all things Ephesians 3:20-21.
The importance of fully funding your ROTH IRA cannot be said enough.
Buy weed, get tattoos, the latest cell phone and blame others for your lot in life.
Step #1 of 1: Have a rich dad.
Step 2 BITCOIN
This is false information
Her dad didn't make her rich. C'mon, racist
Maria, you are giving out a good dose of common sense here & I agree, it starts at a very young age as you've experienced, myself included.
The vast majority of comments I've read, simply don't get it! Before I reached the age of ten, I mowed lawns in the summer, raked leaves in the fall & shoveled driveways in the winter, I even mucked out chicken coops to earn money, in the 6th grade, I was the only kid in school that always had a 20 dolllar bill in his pocket, by the age of 12 I bought my first hunting rifle, a Marlin 336c lever action for $69.95 at the local dept store & still proudly own & shoot it! Before reaching the tender age of ten, I had already amassed my fortune of $500.00 by depositing it into my own savings acct with the local bank...
Vermont here,
Bill... 🇺🇸
Save gold and silver
Passively managed low-cost S&P 500 index funds Vanguard VOO VTI VT and a PCOXX account did it for me. Maxed out Roth IRA every year and kept money in High yield savings and since 1993......Retirement at 55!
Number 1 rule to becoming a millionaire is be a daughter to a multimillionaire. This personal finance expert is just that.
We cannot chose which family we’re born into, fate decides, BUT we can chose to take control of our own life and make our own opportunities. The only person stopping you is you!
Life is NOT fair! Get up and win anyways!
Ps: Dave is a billionaire! With a B 😉
Choose to be inspired and not envious! God bless!
Cry in jealousy before you cope. Plenty of millionaires' daughters are broke, enabled, entitled, and helpless. She is none of these things. So what say you to that?
Victim mindset will keep you poor.
@@edmax2819 True, but you can choose to strike out on your own with your own career rather than cop out and join your super rich daddy's business.
WE are all sorry that ecan913 was born into such a trashy family.
Do put $$ in yr 401k (best to park in money market for a correction), now is NOT the time to load on mutual funds, markets are way over bought. Do yr homework, and do not believe all the experts' advice; they PUMP and DUMP!!!!
Rob people.
I gained financial freedom way before 65 now working because I want to . My priority is my health , God , good family and good friends. Grateful I live in 🇺🇸 where building wealth is possible as an employee . 💗🇺🇸 thank you Maria Merry Christmas to you and your family 💗