We Make $320,000 and Don’t Know How To Manage Our Money
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- Опубліковано 12 вер 2024
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Newbies need to learn the ropes, know how much risk they can handle and diversify their portfolio. Some folks get help from money experts or do their homework before making investment moves. It's all about being smart with your funds.
Nobody knows anything; You need to create your own process, manage risk, and stick to the plan, through thick or thin, While also continuously learning from mistakes and improving.
Uncertainty... it took me 5 years to stop trying to predict what bout to happen in market based on charts studying, cause you never know. not having a mentor cost me 5 years of pain I learn to go we’re the market is wanting to go and keep it simple with discipline.
Could you kindly elaborate on the advisor's background and qualifications?
Annette Christine Conte is her name. You may look her up online; she is a reputable financial counselor in the US with a license.
Just ran an online search on her name and came across her websiite; pretty well educated. thank you for sharing.
We have been on a recession since the beginning of 2022, but big media and governments all over the world didn’t want to admit it. We need to be wise and use our brains. Knowledge is power and I’d like all the family to be powerful! Just purchased some *Dale Valskov* Thanks for keeping us informed during this times of doubt?
Can't deny the fact that *Dale Valskov* is the strongest bet to bring power back to this industry after we suffered FTX, Celsius, Tera and so on. Sure if they fail it's done for good, but I don't see that the biggest tech company in the world would put everything at risk just for that.
WTH are you even blabbing on about? How does that apply to this video?
@@someoneelse6934 scammer bots flooding finance youtubers with ads for shitty traps trying to steal your money I think
As a person and professional you couldn't get any better than *Dale Valskov* he is a very reliable person and an excellent professional in the IT field. He is the type of person you want to work that's passionate, hardworking and knowledgeable. You’re The Best 100%
The efficiency of this *Dale Valskov* is next level. To juggle walk throughs of various angles on the topic delivered to-camera, differnet content per topic from various folks underneath the umbrella of the track list of the larger big band concert itself is engaging and refined. To make a dense taccess like this so digestible is really something. Awesome work jack!!
It's amazing what you do *Dale Valskov* We need a lot of people with your skills and set who have good intentions and spread love
Might wanna get on the *Dale Valskov* train, the proprietary nature of it deters me as a crypto enthusiast but also interests me as an investor
I find it pointless to have a rental property that they’re “breaking even” on… I’d rather sell it and use the profits to pay off my primary home.
You build equity in the meantime. It's a long term play for retirement. They make enough to cover unexpected expenses.
They are building equity every month, plus after it's paid off it's making residual income
This is the financial equivalent of "I dont like it when my peas touch my carrots"😂
yeah this was such a silly non issue call lol. i think this dude just wanted to get on here and brag about his income.
As a 42-year-old QA Specialist at Confluera, earning $150,000 annually. i have struggled to maintain a healthy balance btw my earnings n spendings and still don't have my mortgage sorted out. Do you feel i need some sort of money management?
I would get money management just in case. You’re only 48. I think the average life expectancy in the US is 77.5 years, but many people live well into their 80s so depends on your lifestyle...
I’m quite lucky exposed to personal finance at early age, started job 19, purchased first home 28. Going forward, got laid-off at 36 just after covid-outbreak, and at once hired an advisor with grit to help stay afloat. As of today, my portfolio has yielded over 90%,
@@blaquopaque this is huge! your advisor must be grade A, mind sharing more info pleas? in dire need of proper asset allocation
She goes by ''Jennifer Leigh Hickman'' a renowned figure in the financial industry with over two decades of experience. I'd suggest you research her further on the internet.
Wow, her track record looks really good from what I found online. I'll take a chance and see how it goes. Thanks for the info
I feel like i don't even know what i'm doing in my stock portfolio of almost $400K. So many stocks but it's still not growing at the pace I want. I'm thinking of starting affresh to allocate my portfolio but I'm kind of confused about the best strategy to use.
This is the same dilemma most people that are handling their portfolio themselves go through. I will advice you get yourself some professional advisor to help you on your realocation decisions.
Having an investment advisor is the best approach to the stock market right now. I was going solo without much success until my wife introduced me to an advisor. I've achieved over 80% capital growth this year, excluding dividends.
pls how can I reach this expert, I need someone to help me manage my portfolio
*Jennifer Leigh Hickman* is the licensed advisor I use. Just search the name. You’d find necessary details to work with to set up an appointment.
Thank you for the lead. I searched her up, and I have sent her an email. I hope she gets back to me soon.
He has a mortgage on a rental property, he's in baby step 2 not 3, 4, 5 or 6 then Jade recommends paying off your home mortgage first before a mortgage on a rental property? No, a rental property mortgage is baby step 2, home mortgage is baby step 6. This is a weird call.
No. Mortgage is 6. Rental Property is an investment so not household debt.
they break even on the rental, means they are not spending extra $$ on it monthly, the rent itself pays for all the debts/costs for the rental. it's not a debt when they don't need to put in $$ on it
I say sell the rental and use the money to pay off the primary home
@@mikezerker6925Great advice!!
*Dale Valskov* has the most potential to do more than X10. ETH and BTC will most likely do a X5-X6, but that's fine for me. Gotta look for better entry points while I stake IRIS and PGEN, then wait for Polygen's next raise as I also look at their new partnership with Kenzo Ventures
I feel that the last bull run was bolstered by all the money being printed. Major returns next bull run but I think they will be tamer in my humble opinion. A 10x on *Dale Valskov* and a 15x on polygon are fair considering how much those two coins are interwov
Dave would have said sell the rental and pay off the primary. They are just breaking even every month
My heart goes to the entire community for *Dale Valskov* building up something even my grandpa can understand. This is so smart by them to launch it to shatter the doubts and fears of the common folk which is not even correct to begin with. Everyone knows the state of inflation and recession now and the way out is already in progress. Now it's just about catching the big fish
I'm literally overwhelmed, You are a blessing to the world. I can't thank you enough *Dale Valskov* for helping me with my account recovery. My prayers will always be with you and your team. Keep it up guys. Love from Maldives. There are many people out there I pray everybody get help.
I did not believe that after the whole FTX drama there's any good to get this year but *Dale Valskov* proved otherwise. Bad timing maybe but it's a great adoption to get this more to the mainstream and raise awareness. Probably a high contender for a top 100 growth
Just because you make money, doesn’t mean you make smart decisions!
@@wordsalad01 tbh I’ve personally known people that make 200k a year and are struggling, paycheck to paycheck. Then I know people that make 60k a year and are able to live comfortably.
I just think it’s how you manage your money, credit vs cash only or if you have the smarts to do it right financially from the beginning when one starts to work.
Money management starts and ends with behavior. It's hardly about the numbers.
Yea, this was me before I was divorced. Making a top 1% salary but was too scared of divorce to put my foot down. Now I'm paying off the divorce, but can finally control the decisions and spending!
They have 100k liquid and a rental. They've made plenty of smart decisions.
There probably needs to be a separate account for the rental property so you arent taking from the emergency fund to pay for repairs.
There absolutely needs to be a separate account! I’d consider it a business, and your business account should be separate from your personal account.
In uncertain times, how can one outperform with the S&P 500? my money goal of $3m seems far-fetched and just saving is not an option, do I seek a license advisor to help grow my funds, or wait for a favorable economy? I have barely 5 years to retirement.
patience is your best friend here, although you can benefit from the help of advisors, especially when it comes to smart financing.
Very correct, investing is plain-sailing using a well experienced advisor, and at first-hand experience, I've witnessed my investments compound over 280%, since Jan.2020 amid rona-outbreak, summing up nearly $1m as of today.
this is huge! been a fan of asking questions like Socrates, seeking information and handling certain duties to professionals, my $ 100k index has been shortened by 10% due to inflation over the years and I could really use a help at this point
@@HRMColoniallifeinsurance I learn a lot from "DESIREE RUTH HOFFMAN, she's a big name in her field with more than 20 years of experience. You should look her up online for more info.
l feel venture capitalist should be focusing on under-the-radar bonds, and considering the current rollercoaster nature of the bonds market, Because 35% of my $270k valise comprises of plummeting bonds which were once revered and i don't know where to go here out of devastation.
You definitely have my sub. This content is next level. For me Unimantic was the turning point. Please keep doing what you do and keep being you, love it.
My threshold is 150k per year before I stop taking you seriously. What a waste of a phone call. 🙄
@@wordsalad01that's entirely their fault lol
Haven't seen anyone say it in any recent videos but love what Rachel did with her hair!
Money is not meant to control people rather it is meant to be put to work producing more money for you. You cannot build wealth without putting money in its rightful place
My outlook on money changed when I realized someone making $200K can retire broke & someone making $80K can retire a millionaire. With the current market movement, you have $100K to invest. Where are you investing it?
You're correct!! I make a lot of money without relying on the government. Investing in stocks and digital currencies is beneficial at this moment .
I operate a wide- range of Investments with help from My Financial Adviser. My advice is to get a professional who will help you, plan and enhance your management skills. For the record, working with Stacey Macken, has been an amazing experience.
Honestly, I'm surprised that this mrs Stacey Macken is mentioned here, came across a testimony about her from one of the beneficiaries on the CNBC news, she seems to be doing extremely well.
You trade with Stacey Macken too? Wow that woman has been a blessing to me and my family.
Almost everyone that calls in makes over $175,000 and they are all broke! What's wrong with this picture???
A few things and it’s not what you are thinking. Making a 175k in San Francisco isn’t the same in Mobile Alabama. In San Fran 150k is low income. The larger salaries are in high cost of living areas. Not saying people don’t over spend but high salaries don’t constitute you will be able to save a lot. A apartment in most of Florida is 2k to 2500. Affordable housing is for those making 75k.
These are not broke lol they have 6 figures in liquid money
I’m sorry did I miss the part where they have debt on a rental property and he’s talking about baby steps 4-6? This dude’s on baby steps 2. Dave would be losing it!
That's an investment not step 2 is it?
but they are breaking even on the rental so it means they are not spending extra $$ on it, eventually it will be paid off by itself
@@Jane-rh7tc but if you were following the baby steps you would only purchase rental properties with cash. DR would say either sell the rental or pay it off in step 2.
@@Jane-rh7tc that hoping that in any given year they won't have to replace a furnace, roof, HVAC, water tank, dishwater, gutters etc... so much can happen and if they're breaking even and can't save towards those sort of emergencies solely using the rental income then they're not truly making money
Dave can’t retire anytime soon 😂
You break even on the rental property? Why not sell it?
CUTE HAIR RACHAEL!!!! ♥
I can’t. These are rich people problems ….
rich or not, these are still $$ problems
You sound miserable
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!!!
As a beginner what do I need to do? How can I invest, on which platform? If you know any please share.
Investing in crypto/forex is a good idea,
a good trading system would put you
through many days of success.
Investing $15,000 and received $174,000
YES!!! That's exactly her name (Mrs Maria) so many people have
recommended highly about her and am
just starting with her 😊 from United States
Please who is Mrs Maria
They're in baby step 2; they still owe on a rental property.
They effed up their own silly system lol
but they break even on the rental right? eventually it will be paid off, they are not using their own $$ on it currently, it's not a total loss
@@Jane-rh7tc Sure; they break even as long as the tenant keeps paying rent. I was more so referring to the baby steps as prescribed by Dave and how this advice seems inconsistent with that. I think he would normally state that for the same reason you shouldn't borrow to buy a rental property, you shouldn't keep a rental property you have debt on. That being said; they make so much money they really have no excuse to not pay it off quickly and they have plenty of margin to stay afloat should something happen to the rental income. I was mainly surprised by Jade advising them to pay their primary residence off first and just let the rental mortgage hang out there in the meantime.
Rachel - love your hair!!!
I need problems like this. 😅
Talk about a first-world problem.
I was about to type the same thing.
but it's still a $$ problem. Just because they make a lot of $$ doesn't mean they know how to manage it well. ppl with $$ actually need more help on managing than ppl with no $$
sucks making 320k a year !!
Rachel has an emergency fund lol...
Yeah, her daddy
These 2 give the guy the answers before he finishes the Question
I would like to point out having a rental property that breaks even that you still owe money on is not an investment you’re better off selling that rental property taking whatever equity you have if there is any and paying off your house then maybe focus on getting something else later
Was wondering why this wasn’t mentioned
Wow this guy is not getting it! Just put some of the money form the other account into an account that says emergency fund! What is he not getting?!
These kind of calls shouldn't even air imo. We like have 100k in our emergency fund and we also have no idea like what's going on. Like seriously.
It sounds like they could sell the rental and drain all this side account crap and pay off their house like tomorrow
0:41 It seems like they are only contributing enough in their 401k's to get the employer match, I think they should be maxing out both 401k's (not just enough to get the match). That's a lot of tax advantaged space they are not utilizing (in general you want to max out all tax advantaged accounts before investing in a taxable brokerage account).
I don't buy the stocks or money market argument. You can sell stocks in seconds and have that transferred to your checking account within 24 hours.
People like this just want to brag on how much they make and own. Waste of a call.
Oh no I’m so rich I don’t know what to do! Poor baby
I think 100k can handle any emergency that happens with a house..unless you dont have insurance and it burns down..take a call from someone with real money problems please!!
6:51 Jade told the caller to pay off his primary residence before the rental property. That seems wrong according to the baby steps. Can anyone confirm?
She is correct. Primary residence would be BS6. Rental would kind of be BS6b. You want to pay off primary first so you don’t lose the place you live. Technically if he followed the baby steps as written, he would’ve paid cash for rental after reaching BS7.
@@adamlooper Nope, Dave views mortgages on rentals as BS2. Every time thus comes up, he tells people to sell it or pay it off first. He believes that rentals should only be done with cash like a car
Stupid call. How could they acquire so much money when he can't make a simple decision like this? Move half of the 100k into another account and move on.
I see people down here living in 2-5M dollar homes that are dumb as rocks. I honestly don’t understand how some people have SO much money when they don’t have any sense.
The real issue is this guy is argumentative. When he says they don't really have any disagreement on money it's because his wife is tuning him out.
I make 30K and can manage it. I could not even think about 320K. What would I do with all that money?
I make 120k and it just builds up. I assume 350k you.need to buy assets and diversify. It's just way too much money coming in, for me it would be
This guy called in to brag
Why is this dude calling? 🤣
he almost certainly called to brag, this was such a nothing burger non issue of a call.
Yes to brag. 😡
Dont care, people that cant manage this type of income deserves no sympathy
They are managing fine
They are managing. Also you don't understand how expensive the Bay Area is. Houses basically don't exist for less than 2 million
How arrogant can one be? If you never got in touch with financial knowledge you are just a novice. They need tutoring nothing more than
As they laugh on the way to the bank...
I thought this show was for people who actually have problems and need actual help or advice
Thumbnail is brutal but honest
$320K or $455K? And they aren't living paycheck to paycheck. Who is running the ship over there?
I was thinking the same thing
I definitely would not mention what company I use for banking on air -- that's something someone could use to try to hack into your accounts!
This is the new trend everyone - make a couple hundred thousand a year and immediately goes out and buys a rental property. Every other caller to the show over the past couple weeks has a rental property, yet zero of them know how to manage a property let alone any of their finances.
yeah idk who is pushing this lie that Rentals are the best investment and that its passive, its nonsense. im certainly no real estate expert but from what ive heard where you make the most money is by getting a great price on the home when you buy it, but then being a long term land lord is ofc a huge hassle and massive risk, and an average person isnt going to know how to get that Steal of a purchase price, they'll likely overpay at the height of the market like many people did in 2020. id way rather invest in the S&P500 or something moderately safe like that with a long track record of 10% gains which is totally passive
I was thinking Rachel was going to explain the benefits of a "sinking fund". We have an emergency account (in a Money Market) that we don't touch unless of a job loss. We've decided THAT one occurrence is the "only" emergency that would trigger touching our emergency fund. (so for all practical purposes, as the ladies said, we forget about the emergency fund dollars) Now we have a checking account that we manage our monthly expenses....and we're very good at staying within budget and never going over. We also have a "sinking fund" which we keep in a seperate high-yield savings account that is used for extra money if needed for vaca, the fridge breaks, the HVAC needs serious repairs, a large vet bill, that kind of stuff. The sinking fund is kind of an "in between" seperate savings fund that is found "in-between" the regular monthly checkbook (used for 99% of life's expenses) and the 4-6 month emergency account....that is only touched in case of "armegeddon" (aka a job loss)
This ended up being nothing like I was expecting from the title.
Click bait as per usual
All this over the emergency fund and the guy has a rental that's not paid for they don't even discuss
Wrong title. They are on the right track
Stocks is not an emergency. It can take a couple days for you between your selling, and going into your account.
I would not withdraw for stocks to pay off the house, or to create an EF. They make enough to just pay to those from their paychecks.
sure and it sounds like his money market waits for stocks to buy so can see her point.
@@JudePi-jx7yo Yeah. Lots of people, including Dave, and his minions, use money market account and saving interchangeably. When they are not the same thing.
They can afford a good financial adviser to devise a budget and savings plan. A merchant bank can help.
is Ally bank one of their sponsors? i find it odd that Rachel actually uses that bank. i guess its a real bank thats FDIC insured but its just kind of a new bank that doesnt have a long generational track record.
Their high yield savings account interest rate is great! The app is very easy to use, nothing wrong with recommending it. They have a feature that lets you create “buckets” within on savings account, makes it easy to manage if you like to separate things like emergency fund/vacation/future repair/etc
I've been using the bank for going on 20 years. No complaints.
@@stuffykong thats good, ive never really heard about it other than from youtubers that have them as sponsors, and im weary of stuff like that because many YT sponsors are either junk or straight up scams.
The Ramsey personalities are really coming into their own…good picks!
I know it’s summer because the ladies cut their hair, lol!
The lady in the pink got a cut, lol
Yeah
Bye Jason
You and your $320K annual income which relates to no one!
My wife and I have a HYSA, but she likes to know that our emergency fund is in the local bank by us that we can go to and pick up cash if needed. I prefer the HYSA for the better rate obviously, but the local bank feels more real than an account with a large institution somewhere. That may be it for your wife as well.
He needs to a set up similar to mine. Separate it all up! Have an emergency, don't touch, vacation and play fund
Such a complex issue. Let's hope that they can get past this one.
So basically his wife soesnt understand what a money market account is????
Yes. Or she does and she doesn't like the liquidity and transfer speed compared to a boring oldskool savings account
Why is it that people who make this kind of money yearly or monthly perhaps, act like blubbering infants and don't know how to handle even a dimes worth of their money !
Title is not good, this is valid question , and the people are not dumb and not know how to manage 320,000
They’re in San Jose, CA. Cost of leaving here is different
@@tuyenhoang5546yeah, cost of living in sj is high, tbh their primary mortgage is pretty low already for silicon valley standard 😂
I live for your hair Rachel!!
Sad.
@@todd2456seems like you are
@@todd2456 huh
Of course you like the white woman's hair. Jade's is objectively better but you clearly just don't like Black hair.
@@JJones-zg7yz dude, You are CRAZY. projecting much?? Rachel obviously got her hair cut. that is why I said that. when the f did I say I didn't like black hair?? WEIRDO!
Listening to a 1%, a top 10% of the 1% and a 1% of the 1% have a debate about the proper definition of a 100k slush/backup account was unique
I will be forever grateful to you, you changed my entire life and I will continue to preach on your behalf for the whole world to hear you saved me from huge financial debt with just a small investment, thank you *Dale Valskov*
My outlook on money changed when I realized someone making $300,000 can retire broke & someone making $80,000 can retire a multi-millionaire. Living within your means and living a frugal lifestyle is the first step to financial independence. I just hit the one million mark last year, cheers to everyone striving to get there someday.
Varied sources of income is wise and especially living within your means. My net worth is over $1M and I can pay my bills with no stress, but I don't live like I have that. I have no complaints.
This intrigues me. I've looked up financial advisors online, but finding one to connect with is a bit difficult. Do you mind if I ask for your recommendation?
Wow, her track record looks really good from what I found online. I'll take a chance and see how it goes. Thanks for the info
@@Doracox22Just be careful, Amber Landis ran off with my wife and my pet turtle, Fluffy. She was there to repair my financial situation but ended up taking a crap on my heart. BEWARE
The probably have a cocaine habit that they don't want to talk about.
HISA going to pay as much as Money Market. Just move it and make her happy.
Hey Rachel, you could get way more buckets and a way higher APY with SoFi, your dad's favorite bank!
Lol $320k n living like shit.
Here before the "give it to me" comments 😂
Give it to me baby
The guy didn’t finish what he wanted to ask and already Rachel was ranting about what the wife wanted to do.
5:30 onwards Jade is like me keep it separate
Now is the perfect time to start buying stocks and crypto( BTC, ETH,) if you are just being introduced.. I really wish I started earlier. I'm learning this doesn't have to be as complicated as some people make it out to be. Thanks to *Dale Valskov* for helping me get into its trading server and investing guidelines. Investing and trading are more than just having TA skills. There is a big component of discipline and emotional maturity, that one has to work on! Time in the market vs. timing the market. If you keep that mentality as an investor, you will stay calm during the storm! Within some months I was making a lot more money and have continued on that same path with.
Stop it with the fake title. They manage their money fine.
Well, for starters they should consider moving out of California if they can. Newsom sees them as a good source of tax revenue.
If they have a rental that is only breaking even, and it already cost them for a flood once, sell that thing yesterday, especially if it is mortgaged higher than your primary residence
They are worrying too much, just do what they are doing they are. Fine
Most people are jumping to conclusion. When based on their comments. It seems like they didn't even watch the video.
I’m confused. Wouldn’t Dave tell them to sell the rental? Even though I’m not sure if that would make sense since they could pay it off really quick… hmmmmm
Silly call
Dave should have been on this call. As soon as he said they were arguing about whether they are step 3 or 4/5/6, immediately followed by "we have a mortgage on a rental property," Dave would have jumped in to slap that down.
You're in baby step 2 buddy.
Not sure how the girls both missed that. They even told him to pay down the primary before the rental at the end.
Pay off the mortgage
The scammers have arrived. All the DV posts, 🤮
Everyone hates it when obviously well off people call in to humble brag 😂
This call is a BIG flex 😂😂.
He mentioned are they on 3,4 or 5.. But aren’t they still on step 2 due to the rental property having an outstanding loan.
SO what.
@@jimmymcgill6778 SO what? The dumbest comment I heard thus far.
@@sonicmoj1 They make a good income. So having a mortgage is not an issue.
entire comment section is spam lmfao😂😂
Women’s feelings are comical