I love this show for many reasons. One of them being the fact that it's essentially a collection of research projects from a VERY ENTHUSIASTIC high schooler
Obama, Obama, Obama? Yes, Obama veto it! Then Wall Street made another loop-poll, naming the fees something else! Then, guess who said and signed a presidential order that said as Wall Street can not just rename something, just because you can? Trump did that! Then your boy Uncle Joe Biden reversed Trump's order! You still have fees there, buddy?
That moment was a whirlwind of emotions and nostalgia for a better political time. 😂 Back then you probably would've never expected that people would one day (soon) be calling it a "better political time."
Did you know that the twist of the strands in a twisted or braided rope serves not only to keep a rope together, but enables the rope to more evenly distribute tension among the individual strands.
That is good. Without a twist, swinging the rope and putting a weight on the end may cause the strands on the left and right to snap from tension, causing an eventual breakdown of the structure.
As a person who works in the pensions industry as an actuary, the video at the end is surprisingly solid advice that we keep trying to make people to follow. This is the one episode I actually have extensive knowledge about and I must day I'm impressed with the LWT team's research.
I'm not impressed much, and I work in the financial industry. But that's how the laws work here...get bad ones put out by Democrats who know nothing, or get no laws whatsoever put out by Republicans who love taking advantage of people. What should happen is laws that make sense (these don't) should get enacted. But instead you get dip vs. dope, and you get screwed either way.
I've just retired recently and I must say I found this video informative and great to review. These psychological concepts are much more useful for individuals attempting to avoid mistakes than I realized when I was first introduced to them. This is probably why Warren Buffett talks so much about temperament being crucial to his investing success.
Developing a solid financial portfolio is more difficult, therefore I suggest you seek expert assistance. The ideas you receive after that can be tailored to your long-term goals and financial desires.
Personally, I would say have a mentor. Not sure where you will get an experience one, but if your knowledge of the market is limited, it seems like a good bet.
The issue is this! Most often, those with little to no experience in the stock market attempt to buy on their own. It previously occurred to me, but I learned from it and contacted "Catherine Morrison Evans" a finance expert with offices in the US, and everything changed. I earned $370k so far in the first quarter of this year.
@@krishnasanyal7 🚨 They sure are... but why is it that I could spot that it was a bot from the second sentence? 😂They're so recognizable even though they're getting so advanced at looking real.
CFA stands for Chartered Financial Analyst, and they generally do not work in a client-facing space. They also are extraordinarily smart and make a great living.
And the funny thing is, most of the things she owes money for aren't even worth that much, and all of that is bloated and goes to various middlemen and leeches no one will ever see.
It's recommended to save at least 15% of your income in a 401k. You can use online calculators to estimate how much you should save based on your age and income. Saving at least 15% of your income in a 401(k) can help ensure that you have enough money to retire comfortably. By saving this much, you can take advantage of compound interest and potentially grow your retirement savings over time.
I'll suggest you create a diversification strategy because building a good financial-portfolio has been more complex since covid. Recently my colleague advised me to hire an advisor, surprisingly I have accrued over $120K under the guidance of my coach during this crash. She figured out Defensive strategies to protect my portfolio and make profit from this roller coaster market.
If you’re new to investing or have a more complex financial situation, It can be helpful to work with a financial advisor who can provide personalized guidance and help you make informed investment decisions.
On the contrary, even if you’re not skilled, it is still possible to hire one. I am a project manager and my personal port-folio of approximately $750k took a big hit in April due to the crash. I quickly got in touch with a financial-planner that devised a defensive strategy to protect and profit from my port-folio this red season. I’ve made over $150k since then
How can one find a verifiable financial planner? I would not mind looking up the professional that helped you. I will be retiring in two years and I might need some management on my much larger portfolio. Don't want to take any chances.
Rebecca Nassar Dunne is the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment..
I'm 66, and also retired, and don't understand why people work to age 70, just so they can buy more stuff! Time doesn't have a price tag, so stop wasting it to buy more material objects, that you can't take with you, I rather use it to invest and build wealth for my generations to come, as a parent its always important you teach your kids financial literacy and always have good experts to guide them..
My Retirement investments have prospered because of Sir John Desmond Heppolette's supervision. But it's important to remember that the quantity of capital invested ultimately determines rewards. A large start-up cost increases the likelihood of bigger returns.
My husband’s cousin’s mother left lots of money in programs for her toddler grandchildren’s college education. The bank’s trustees were in charge of it, and by the time the children were ready to go to college, their programs had NO moneys left and, in fact, they owed the bank trustees money for fees. This was back when we were getting as much as 25% increase per year.
The existence of the Suzie Orman show is proof that people will do anything if it means not calling their mother. You don't have to call into a talk show to have some middle-aged woman tell you not to buy something, just call your mother and she'll do it for free.
Yeah, but she won't whine about how you haven't called her in weeks or months for half an hour before telling you not to buy a designer handbag you can't afford. Also probably won't ask you if you lost weight.
I know i should feel happy and a sense of achievement.... but i just feel empty. What is the meaning of life, when black holes break the laws of physics and Janice breaks the laws of the universe by giving fucks? I'm so lost :(
+Konsta Hietala 😇😈 😯 😡 😢 🙇 👂 👍 APPROVED BY GOD I HAVE SOLVED MATRIX NW 🌐 👹 ILLUMINATI FASHION BAPHET ETERNAL.🔥 ANYONE OR GOD420 💜 ✌ 🐝 🎓 💯 OR CONTINUE TO FEEL LIKE A VACUUM SOLVED THE HOLY GRAIL WE ARE IN A MANDELA AFFECT CAUSED BY CERN GOOGLE BOTH LIFT SPIRIT PEACE
Honestly John Oliver is such an amazing person and is literally helping us fix the world by pointing attention to the things that usually past by us unnoticed and contribute to the fucked up power dynamics people have in this world. I love this show so much.
I just retired, but I am uncertain that my 401k and IRA will ensure a stable future. I have $900k set aside, I am seeking an approach that matches my risk tolerance and financial objectives. Please I need advice, should I invest in stocks or real estate ?
You should explore rosters of dividend aristocrats and select six to ten from the compilation. These esteem companies boast a remarkable history of consistently paying dividends for over 25 years. Furthermore, it is discerning to engage a financial advisor to help in crafting a meticulously structured portfolio.
I am interms with working with a financial advisor. It has really helped in shaping my retirement future. I am currently working with CFP, his expertise on wealth management and tax planing is unmatched. He has really helped in optimizing my financial growth and security. He works in accordance with my financial goals and my risk tolerance.
Yeah.. I think the first concern of any experienced financial advisor is to understand the financial objectives of his clients and the amount of market risk their clients can tolerate and working closely with them to produce a strong result.
+Sampamandla Hlela If you educate yourself about finance you can do the investing yourself. In the mean time save your cash, ladder the expiring date of a few CD's. The FDIC will insure up to $100k so conceivably you could keep it all as cash. Not a good idea. Eventually, diversify your portfolio. Mae West always said 10% in diamonds. If you invest in things, you'll have to protect them. Things also become a burden at a certain point. Things are only worth as much as someone else is willing to pay for them; not what you paid for them. Before buying bonds make sure the city or other issuing entity isn't going to go belly up. Watch the stock market. Unfortunately, it's just as addictive as gambling so set yourself a limit as to how much you are willing to loose. It's not a bad idea to have in mind a lower expected rate of return than anyone promises. I can not speak to real estate, like flipping, except after having lived in a condominium over 20 years, never by a condo. My dad used to own a six-unit apartment building. Yes, there is rent, but the upkeep is huge and, your relatives will resent you for asking them to work for free. Neither my husband nor I have control over what's in our pensions. When you're looking for the employer of your dreams ask them if who has control over your money. There are a thousands of Funds out there. Look at ones that invest the way you like: green, only US, only overseas, on and on. Since you are young plan for inflation. At the moment I think the average rate of return (what you will live on once you retire) is about 4%. How much money are you going to need to be comfortable? When you are comfortably situated you could buy art. Only buy art you like for yourself, or from artists you like. We inherited an antique teapot. A seller was asking $7k for it online. We were offered $300. Watch out for pyramid/Ponzi schemes or potential business partners; even the richest people can be taken by a scam artist. When you do have money the only way to loan it to anyone (family included) is to have in writing how much they owe and the repayment schedule. Do not be surprised when your company-provided health care pays 80%, you pay 20%, and the life-saving ER you pay could well be over six zeros. You may need to start out with lower value clothing, but try to limit that to recreational clothes. When you can afford a tailor-made wool suit, it's worth the investment. After the important meetings, you can wear it to your kids' weddings and on into retirement for other important occasions. That same suit will look good if you keep yourself in shape. On a more personal note, watch out for friends who see you are well off without seeing your hard work to achieve it. A lot of people have false expectations that you should be buying them dinner, jewelry worth at least $XXX, a car even. Don't.
get a401k only if your company matches. put all on the safest investment like savings except you are getting matching funds. save and get the money out to buy a house you can pay off in ten to fifteen years. then the house will appreciate and you can sell when you are old. keep working save and buy more real estate
Obama_Ate_My_Chicken the honey badger guy's name is Randall and here is his channel: ua-cam.com/users/czg123 the man in the video is Billy Eichner. he's acted in a handful of things including Parks & Rec and Bob's Burgers
@andrew williams you are so dumb if you actually go through with that lmao holy hell. This entire video is about not falling for scams like this woman. Financial advisors are a very expensive joke. Do your own research on trading. If you dont understand it by yourself, you DEFINITELY should not allow others to manage your money lol.
In this type of economy do you think people will look at you without an elf spotting degree and say "Oh wow, let's hire this guy! He must know his s***!" Nah don't think so. Now go pay for that degree.
Thank you John and everyone at Last Week. I just started my first job offering a 401k less than a year ago and there are so many options it's overwhelming. This has been so helpful to put my mind at ease. Never stop making this show.
+Chasing Garak Yeah but he's catering to Americans and we all only really care about our own money, lives, etc. We will kill 20 million people destabilize a whole region and call it democracy, while stealing oil and heroin. We didn't care gas was like 5.00 a gallon and the heroin epidemic didn't hit home yet. One affected our pockets the other took awhile.
No not at all, but It does have his tempo and accent of speech for a while, which I find very disturbing Indeed. I don't know why I find it disturbing, maybe its becuase he's not supposed to be in my head, or maybe it's because he's objectively the second best Zazu, and I'm objectively not any Zazu. Anyways, I think I need to end this before that inner voice start saying he would fuck that horse, aw dammit too late, you did it again inner voice that acts like john oliver, you did it again
Obama's fiduciary rule, which Oliver rightly praises here, was immediately thrown out by Trump as part of his "Lets Build a Giant Swamp for the Corrupt, Greedy top 10% to Wallow in" initiative.
intelligence, has escaped everyone one of the trumps, except this one, and he choose to hide how smart he actually is: slate.com/news-and-politics/2019/03/trump-has-gone-to-ridiculous-lengths-to-keep-his-high-school-grades-from-getting-out.html
I don't think I've heard trump do anything to benefit the middle or lower class. Greedy pig, lol. And to think when John Oliver mentioned the house and senate, he'd mention how they stood up for the fiduciary rule. I was stupid to think they would do something that would benefit the common people
basically what john is telling you is, if someone is claiming to help you in america they will have you bent over and pleasuring themself inside you very soon.
The best financial advise I ever got was, oddly enough, when I was in Girl Scouts as a kid. It’s called the 50-30-20 rule. Essentially, if you are able to, 50% of your income goes towards bills, 30% goes into savings, and 20% is left over as rainy-day money
Unfortunately, not a lot of people can put this guideline into practice today, since most people end up paying more like 75% toward bills (if not 90%, cause college be inflamed as hell) because the majority of U.S. jobs don't pay shit compared to the local cost-of-living.
@@lvega5606 so you're saying that after spending 100% of one's income on bills, savings and rainy say funds nothing is left for anything else? XD Wondered why no one else saw the 50-30-20 rule was explained wrong
That's exactly why I stopped working as a "financial advisor" for Prudential - I couldn't live with it on my conscience. There are a lot of laws but they bend the laws ALL THE TIME. You have to educate yourself, but I found that almost NO ONE educates themselves about their finances, even the most basic of basics they just don't know.
Prudential manages my son's 401k from the hospital where he works. Since he pays about as much attention to finances as I did at 26, he had me look through his allocations. They had him in high-fee heavily managed funds with their "automatic" feature. I transferred every contribution from those into their few Vanguard offerings (mostly index funds), and he went from double digit losses in the final quarter of 2018 to double digit gains in the first quarter of 2019.
Erin Stade I wish I even understood how to make evaluations like this. I have my 401k on auto by my age and I don’t know how to see much more than balance and contribution. How do I learn all of this?
It's true, I wanted to do the right thing by investing my retirement savings .. But had no idea how or what to invest in. I spoke with a "Financial Adviser" who put my portfolio together but, the statements I would receive monthly were the equivalent of trying to read Chinese. I could not understand anything in them, just bought this, sold that...#'s and terminology all over the place. Every year my tax accountant would say, well you made this much, but multitude of fees would chew into profits and basically had a pretty small return on my investments. After about 8 years of these small returns and the fees eating up most potential profit...I closed everything out in 2009. I took my total retirement investments ($70,000 at this point, so not much) and started investing in buy and hold real estate. Wah-Lah...as of 2020...I hit millionaire status via real estate assets and have a passive income of $4500 per month from rental income.
If you're watching in 2020, there's a new regulation that requires financial advisors to act in your best interest: Regulation Best Interest (aka Reg BI). It went into effect this year.
@@thomasf.9717 Ok, state the non mananaged fund you are on about? How does it compare to other non managed funds? What is the innitial period on these funds? What is the fee for exiting the fund? What happens to the fund if the indices plummet? A finacial advisor does more than manage finds as the video suggests. A proper finacial advisor will help you to get the biggest and best yield. Not all are scam artist like the video suggests.
You really don't need a financial advisor, just save 15% of your gross income and invest it in a couch potato retirement portfolio (google it). Invest first in Roth options (Roth 401k for company sponsored plans or Roth IRAs for personal funds) until you max those out and then put everything else into traditional options (401k for company sponsored plans or traditional IRAs for personal funds). It is that simple. John's "advice" that somehow if you don't earn enough income that you shouldn't or can't save for retirement is terrible and ludicrous. You always need to live within your means and plan for the future no matter how much you make.
A guideline to creating a profitable industry: Step 1: Take something fairly simple Step 2: Make it sound all fancy and hard to understand for people Step 3: Offer them your services to make sense out of this clusterfuck you created Step 4: Enjoy
You need to produce a segment on the problem of people buying "teacup pigs," only to realize there's no such thing, thus then trying to figure out what to do with a hundred-pound hog in a New York City studio apartment.
@@saschamayer4050 Yup. "Teacup pigs" are really just either baby pigs or under-fed/malnourished young pigs (this is super sad). And apparently pigs are usually between 300 - 700lbs, but can get MUCH bigger.
@@KikiChan_007 perhaps. But then you’d have to figure out a way to get a hundred pound hog down the elevator and into your car. Then you pray, because god knows that hog boutta shit and start wallowing
Formor Immington who me? That profile image is the only time you'll see me in a suit, lol. I sell real estate and I have to have at least one picture of me in a suit, hehe
+patrick harrison No, that man was the expensive broker. She was 2% interested in him, and her interest will surely compound over time. But not as much as it would for a cat.
I’m currently retired, and considering the current rollercoaster nature of the stock market, I decided to stay on the sideline for awhile, now I’m worried with the numerous bank failures as of late, am I better off reinvesting my savings in the stock market or do I wait?
I don't have a full-time job; instead, I'm self-employed with a variety of sources of income. Regardless of how much money I generate each month, I maintain the same budget and adhere to my means-tested lifestyle.
Sometimes realistic factors discourage people from reaching their goals in life. For instance, I've tried investing in the stock market several times but always got discouraged by fluctuations of stock value
A lot of folks downplay the role of advisors until being burnt by their own emotions. I remember couple summers back, after my lengthy divorce, I needed a good boost to help my business stay afloat, hence I researched for license advisors and came across someone of due diligence, helped a lot to grow my reserve notwithstanding inflation, from $275k to approx. $850k so far.
I think this is something I should do, but I've been stalling for a long time now. I don't really know which firm to work with; I feel they are all the same.
I definitely share your sentiment about these firms. When I was starting out, I checked out a couple of freelance investors online, so you could do the same. I personally work with Julia Hope marble and she's really good.
Retirement is a wonderful feelings when it is done with a good plan, some gets frustrated when they are retired because of lack of good plans of living
complicated??? only when its time to set the fee for your service. talk to a group of 5thgraders. they will understand because they hv all the necessary math.
Diversification is the secret to optimal performance. This is why I have my interests set on market sectors based on performance and projected growth, such as stock, EV sector, renewable energy, Tech, and Health. Keep investing regularly and you'll be blown away how much it can change in a few short years. Here's to $1 million and to FIRE
True. My portfolio was diversified across several markets with the help of a financial planner, and were able to achieve over a million in net profit among high dividend yield equities, ETFs, and bonds. It is vital that you have a variety of exposure, including in firms that are currently generating cash flows.
'Laurelyn Gross Pohlmeier' a highly respected figure in her field. I suggest delving deeper into her credentials, as she possesses extensive experience and serves as a valuable resource for individuals seeking guidance in navigating the financial market.
Her name is Jill Twiss. She's one of the writer of the show. I don't know if she's the one who came up with the Janice-in-accounting running gag, though.
seriously, I was wondering how many other people laughed at that because they've spent a ridiculous amount of time reading similarly mundane Wikipedia pages
His comment about the regulation requiring 'financial advisers' to act as fiduciaries - that is, to put their clients' interest ahead of their own - is kind of depressing now: it was one of the first of Obama's executive orders overturned by President Trump.
Everything about Thomas' last sentence is wrong. It was never enacted under Obama, and it was the courts that killed it, not the executive. Those fighting against it were lobby groups such as the U.S. Chamber of Commerce, not the Trump administration, which merely delayed enaction (i.e., instead of being temporarily enacted.and then reversed, it was never enacted in the first place). Also, to be technical, it was neither an executive order nor Obama's to make, but a Department of Labor rule. To be really technical, the final delay before being vacated was also done by the DoL. Politics was clearly a factor, but how it happened is a bit more subtle than Obama enacting and Trump reversing. It was never enacted in the first place.
Trump delayed the full implementation of the fiduciary rule by signing an executive order Requiring a review of it. It did go partially in effect in June 2017. The DOL created the rule under the Obama administration, Obama appointed the head of the DOL, they were part of his administration. He was partly correct, minus it being Obama’s executive order. Trumps order required a lengthy review and delayed it from going fully into effect. And of course he did, dismantling it would eliminate the chance for any oversight or regulation, and that’s he ideal environment for people like him to do their shady business.
Shouldn't come as a surprise. Of course Trump is going to fuck over the people that voted for him and give a giant blowjob to the rich, huge corporations and finance industry. What is depressing is that this shit was ever ok and it had to be an Obama executive order in the first place.
6 weeks ago I joined a 401K. MassMutual, the administrator, can NOT answer practically a single one of my simple questions, either by phone or email. Their explanation and fee forms are long and scary. They initially told me my company contributes 3% of salary -- but they contribute ZERO. Maybe MassMutual only charges .53% per year, plus some small extra sneaky fees, based on reading their forms. Maybe. Hard to say. They're deceptive, confusing, incompetent, and they refuse to answer most of my emails.
If your company is giving zero in then set up your own retirement investment, the company won't care, you can bring it to another job and ask them to put their slice (If more than zero). What benefit is there being part of this plan when your company funds zero on their part. Anyone you decide to set up with should have less fees and be more transparent. Pay for advice from an independent advisor and let them recommend from whatever few options you consider. Note many companies who do put in a contribution often take it all back if you work there less than x no of years no matter how generous the contribution they add in. Remember this if it's a contract job "with the potential to be renewed or made full time". Assume it won't and mentally add this into what salary you need to make your own fund contributions. Note fees tend to be higher in any new account set up so switching to a new fund for each job or new retirement company offering is often not the best idea unless there is a deal on fees to get you to switch.
You'll have to check with your company...but at almost every company it's a "401k match" - usually they only match if you contribute money. For example if you contribute 4% then they will contribute 2%, if you contribute 6% then they contribute 3%, if you contribute 0% then they will also contribute 0%. So if you aren't contributing anything that's likely why you aren't seeing them put in the 3% you are expecting.
Yes sir. Their (your) 401k just happened to turn into their own expense account. They use your money to make investments in their own interests and give you hell if you ask to borrow any of it..and on top of that you get penalized twice for taking out your own money! I mean wtf sense does that make! Also it's counted as earned income so you'll get taxed for it as well lol yay 401k!
@@Adam-zq8sl only part of that contribute plan is when you need it they take the same contribution out of the funds you ask for. It's better just to have your own person savings or an IRA
just a kwik answer but if your company doesnt contribute then u dont lose anything by firing mass mutual and doing it on your own. just remember it is simple. lots of responses in these comments r on the right trak because it is simple. dont b afraid. the cat is doing ok
I mean in a perfect world everything should be simple, but our tax codes and financial laws are written to be dense on purpose. People want to take advantage of others' ignorance and capitalize on it. A huge portion of our economy is based on this fact.
For the most part, they weren't really _originally_ written to be dense on purpose. However, certain interests actively benefit from the habit of adding more and more rules without ever getting rid of old ones. It doesn't help that Congress is gridlocked and can barely pass a general budget muchless do anything much more meaningful.
Levity your words are meaningless. Truth isn't singular, it cannot be applied the same way in all instances. I get that you're probably like 15 in high school thinking your deep for saying things like that but your comment is fluff. There are many truths because truth is subjective. There is no objective truth or reality that is the same for all.
Tim Southern You. I like you. If a bill is short and to the point, it would be awfully hard to hide the fact that a corporation was mentioned by name. Instead of the law applying equally to all. You know, corruption, corporatism. That's what I meant.
I feel the need to mention that the laws around this in Canada are a LOT more strict. When my husband (a Canadian financial advisor) spoke with an American counterpart, he asked about training and how the exams were in the U.S. Not only did the American financial advisor do only a weekend course in Mutual funds, insurance etc, with exams which were - in his own words - a joke, but of those courses there was zero discussion of ethics. My husband was blown away; it took him months of daily study and several week-long courses for him to pass the multiple exams of which there was a whole day-long exam devoted to ethics. So here in Canada, financial advisors at private firms are prohibited from doing the things John Oliver is describing in this video. Financial Advisors amployed at Banks generally have to meet sales targets for certain products (like credit cards etc) but FA's at private firms only have your own personal financial goals to take into account. Also laws in Canada were recently passed that require both banks and private investment houses to disclose all fees. Generally bank fees are higher than those of investment houses so they are sweating a bit about having to disclose them.
the thing that always gets me with these is, no matter if they "Win" or "Lose" gambling with your money, they still get paid a ton of your money. and in many (if not all) cases, they make more off of your money than you do, at zero risk to them.
The thing is, finance is a lot easier than people think it is. There are some generally-recommended, safe investment options (bonds, index funds) as well as retirement plans that provide a steady return over time with little effort. You don't have to gamble away your money by trusting it with a financial advisor - or, potentially worse, putting all your money in stocks without spending the time it takes to do it well. So, once you find an investment vehicle you're comfortable with long-term, you'll have an idea of how much interest your money will accrue. Plug the data into an online interest calculator and it'll be able to tell you how much money you have to invest at a given interest in order to be able to live off of it after you retire. A much bigger problem is for the many people who can't do any of this because they don't have the money in their youth, and thus never accrue interest on any money, and instead have to keep working long after they'd hoped to retire. I guess the bottom line is: Don't trust the banks. Banks make money by literally taking as much money as they possible can from you. When you need the services of a bank, remember this. They're not your friends. They aren't there for you. They're not there for the economy. They're a necessary evil you need to avoid as much as possible.
For the record, I'm talking about index funds without active management. Some actively managed funds aren't as bad as others - some may even be good - but in most cases, active management is just less efficient for you - since, even if the active management makes the fund significantly better, the manager is taking the vast majority of the difference anyway. Active management simply adds a risk to your purchase of index fund shares that you don't need, since passively managed funds have shown to be just as good or better. Also, the banks largely consider you a rube unless you're a very wealthy person, and as such will offer you drastically worse terms and conditions than they would offer well-connected people. Don't ever trust the bank to give you good rates on anything. By the way, I'm not an expert. I learned all of this in less than 6 hours, using economy lectures from The Teaching Company and articles from various sites (never trust just one site - only trust what they all agree on. If it makes sense.)
"The thing is, finance is a lot easier than people think it is." Tell me about it, I got my degree about 3 minutes after I set my mind into being a financial advisor... my inkjet printer takes a while to warm up.
Financial writers have recently begun criticism of index funds. The reason being that some of the funds are so popular now that many of the major indexes have included companies with dodgy fundamentals into their index group,thus rendering some indexes more volatile. So choose your index funds with due diligence.
Sadly, the P45 administration repealed the fiduciary requirement for these "professionals". The good news is, you're better off without the fund manager/financial advisor/whatever and just invest in low-cost index funds.
@@4jp The Fifth Circuit Court of Appeals, 3 judge panel, based in New Orleans, vacated the rule. The US Department of Labor could have asked for it to be reheard by the entire court, but declined to do so, because, you know requiring financial experts to actual put their client's interests first would somehow be "too burdensome".
@@taberav No, stupid, the requirements for compliance would be too burdening, which was expected to cause reduction in competition in the market. This is what happened with a similar rule in the UK. Firms sold off their advising arms as a way of reducing costs of business after rule went into effect. Just do the reading on the topic.
@@4jp Your example only points out the reality that these "professionals" do not actually provide a valuable service to their clients. They only way they can make money is when they do not act as a fiduciary. And, I have done my reading. Your name-calling is a symptom of not having valuable input to the discussion.
@@taberav You are wrong. You do not understand any of this. Your simpleton's approach is far too common. I hope, for your sake, that you are a child, because no adult should be as simple as you. The complaints were purely about compliance and its costs, not advice provided to clients. Companies do not want to deal with regulations. Small companies may not be able to do it.
American workers are experiencing unprecedented declines in their real incomes, which is why record numbers have been forced to work multiple jobs to make ends meet. When we talk about 9.1% inflation, the media acknowledged the true rate of inflation of about 18%?
Very well articulated; I wish I had more time for trial and error, but I'll be 56 in August and I need ideas and advice on what investments to make to set myself up for retirement, especially with the looming inflation and recession; my goal is to have at least $1 million by the age of 60.
There are a lot of strategies to make tongue-wetting profit especially in this down market, but such sophisticated trades can only be carried out by proper market experts
@@Robertgriffinne Yes, I've used such expert, an investment adviser at that, and she really worked magic on my portfolio, initially I was always in and out of the market, selling at a complete loss but for the past 2years I've been mostly in the green, earning steady profit irrespective of market movement thus gaining over $850k+ in the past 2years
@@marianparker7502 Sweet! how'd you go about getting a proper investment-adviser like that, I've had plans to touch base with one, I'm just not sure how to go about it, I don't mind looking up this one that guides you.
as a financial advisor, this video is 100% true lol. Personally tho, I'm not commissioned, however the company I work for give me a better performance rating if I sell certain funds. But I don't give a fuck and tell people to buy index funds and ETFs all the time, and what's what i invest it only 😊
You mind advising my lump-some? I'm trying to grow it but it'd be really helpful to have someone else activly managing it. ...hue hue hue im terrible...
+Drakkose don't actively manage your lumpsum, let it passively grow - that was the whole point of the video!! Now, if you were making a sly sexual innuendo, then idk I can't help you there 🙃
Financial planners: One of the greatest deceptions pulled on the population is that they can't do it themselves. They've been told they can't do their own taxes. They can't invest without help. It's a form of the harm caused by 'lowered expectations.' As he points out in the video, it's not hard. Pick index funds, rebalance once a year, add more bonds as you get older (or just buy a target fund made up of index funds). That's it. You can expect long-term success with that little of info. 401(k): If your company offers one, you absolutely should take advantage of it. Any good company will offer a match, and you will never get a return as good as that on your own. Fees: Low fees are fundamentally important. Always, always pick no-load investments with low fees. Also, funds with the lowest fees typically outperform funds with high fees because over time, neither will beat the market, and the lower fee fund will skim less off the top, thus giving you more. Advice: Absolutely yes, start saving as soon as you possibly can. That cannot be stressed enough. Low cost index funds are great. Target funds made up of low cost index funds are also great. Also check out what's known as the Margarita Portfolio; it's a super simple investment mix with a proven track record. You don't have to get fancy to be successful. Fees: Vanguard's index funds have fees that are typically under 0.25%, not just under 1% as advised in the video. (Disclosure: I invest with Vanguard.)
Jake Tweet Great link. IMO the title is deceptive, though. The increase in performance is due to proven investment strategies like long-term focus, diversification, rebalancing, etc. It isn't through picking winners/losers like managed funds. The information to do all the work is readily available for free. I do agree that people who don't have confidence or discipline to act without someone prodding them, then an adviser/coach is beneficial.
You are correct in that it is "not hard" to pick your investments, rebalance, etc. However, while it is SIMPLE to do all of this, it is not EASY to do this because so many people let their emotions dictate their decisions when there's a massive bull or bear market. THAT is why so many people would be better off paying a financial advisor to manage their investments -- to keep themselves from making potentially catastrophic decisions based on emotion. (I would never hire a financial advisor who isn't a "FEE ONLY" advisor -- NOT a "fee based" advisor -- there's a HUGE difference between the two. "Fee Only" advisors must always act as fiduciaries for their clients.)
I've never seen such an entertaining yet depressing show that still leaves a glimmer of hope for the viewer at the end. It both shows how dark and depressing reality is, while also providing ways we can try to make things better. Also, my key takeaway from this and research on my own is that passively managed investments are the better choice in the long run (although I'd say that's mostly because of the cat)
My wife and I did very well in the amount of money that we amassed for retirement. Well over 80% of that money was made because of taking advantage of buying high-end stocks at a deep discount during the Great Recession. 2009 I fired the stockbroker got rid of all mutual funds and bought individual dividend stocks. Be patient don't get scared and do your homework and you can make a killing.
I am 54 years old and my wife and I are very worried about our future, with gas and food prices rising every day. We have seen our savings dwindle with the cost of living in the stratosphere, it is impossible for us to replace them. We can manage, but we can't move forward. My condolences to everyone retiring in this crisis, all those years of working just to lose it all in a crisis you didn't cause.
@@erichkraetz2622 I feel your pain mate, as a fellow retiree I’d suggest you look into passive index fund investing and learn some more. For me, I had my share of ups and downs when I first started looking for a consistent passive income so I hired an investment advisor "INGRID CECILIA RAAD" this year for assistance, and following her advice, I poured $150k in passive diversified safe-haven assets and its yielded $325k so far. Nothing special, just proper diversification and a cut loss and take profit strategy.
I think it's especially difficult for retirees and near-retirees, I know to focus on the long term but the anxiety when you're supposed to retire in 3-5 years is exhausting. it is difficult for me to participate in the market right now due to the full-time nature of my job. it will be too stressful to combine so I don't even think about it
@@joesphcu8975 joesph? Who the duck is named joesph? You can't even spell your name right but you're giving me the full name of an "advisor" who you claim more than doubled your money in a year? In the comments of a video telling people to be prudent and careful about their retirement saving? You are full of low grade baloney and should be ashamed.
this was an easy topic to do. I'm a CPA and the amount of trust there is in "financial advisors" in "wealth management" is crazy. If John Oliver team wanted to explore this topic more, they can go into the world of financial certifications such as CGMA (this is pure bullshit), CAIA, etc. Other topics to do would be law school industrial complex, MLM, etc
The best show on tv, who else can give you a diploma within the first 70 seconds of the episode. Gotta go, adding new skills on my Résumé. Cheers Milhouse 🍻🍻
Retirement is easy - work in the US - retire in South East Asia. I retired at 48, and have been over here in the Philippines 6 years already! Best decision I ever made. 😃
Why because the dollar stretches more in a country your terrorist govt destroyed? Yet again America washes up on their shores, this time old and fat to continue with the exploitation. Carrying on tradition even in retirement. Hope one those kids blows your head clean off, you ought to add the one you think will kill you as your beneficiary just so he... or she will know they did the right thing.
entrepreneurship. it is objectively the easiest company in the world to start a successful business based on the many different factors and bureaucracies involved. also, we're the best in the world at preserving and curating national public parks. those were the only two things I could find.
My sister is a fiduciary financial advisor for Chase, and her clients invite her to weddings, Christmas parties, once to their cabin in Colorado (we're in Texas)... you would be surprised how close the relationships get. She's a great person though, definitely cares about her clients. Edit: I now realize that this sounds like she's having affairs, lol, but I mean they invite her AND her family to these places. She and my nephews stayed in Colorado at the place of an older couple who are clients of hers.
Unfortunately Latin America is also becoming expensive due to greedy politicians passing illegal corrupted real estate housing. In a few years, I recommend to retire in SE Asia rather than Latin America.
0:35 man, Suze was so excited to hear the caller say "study abroad," and then you see her struggle to keep her smile as she realizes the poor woman is crazy....
As a financial services professional, I can say that this is 100% true. Aggressive sales are heavily incentivized. Very few people do research on their investments. Most just take their brokers word. Don't hesitate to ask your broker how much they will make in commissions if you invested in a certain product. They are supposed to act as a fiduciary but the word doesn't mean much to the unethical assholes out there selling investment instruments. The insurance industry is a magnet for shady sales people because there is a lot of money to be made. Brokers prey on busy people or old folks who are likely to take their word and no do any research. Manage your own 401K. Review it every 3 months. Invest in index funds.
Index funds are not hard to understand or invest it. The only other piece of the puzzle is making sure to match your types of investments to your age and goals. So as you’re nearing retirement age move money into less risky investments like bonds (that also pay lower returns than stocks). I have a BS in finance and an MS in accounting, and I guarantee you anyone could learn “the essentials” of how to invest for their retirement in a day (or with just one decent book on the topic). If the whole thing seems complicated to you then that’s only because their market has worked. Save early, save often, I vest in index funds, stay diversified and match the relative risk you’re taking to your age and goals. That’s 90% of it right there. Anyone with an IQ above 50 can figure out the administrative portion (forms to fill out, etc.).
@@dasaauto2024 As an adviser I agree. In a perfect world our industry would not exist because investors would be able to do it themselves. Unfortunately many people are to scared, disinterested or ignorant of basic finances. Advisers have to bring more to the table than simply manage money, especially for clients under 50, where the best strategy is usually index funds/ETFs/mutual funds.
Dasa Auto thank you for the information. I am 22 and work for the state of CA. I have the option of a 401k or 457b plan. I believe the 457 is best because of my age and if I were to get a opportunity in the future I can withdraw my savings and pay the tax. I have also heard that index funds are my best bet although sometimes I feel eager to get aggressive with my potential investments
Excellent video. We are all striving for financial freedom and a better way of life. It is not difficult to achieve this with wise investing, economical lifestyle, and careful budgeting. I'm pleased I learnt early on to work hard for financial independence.
In my opinion, making a smart investment is not only a technique for earning passive income, but also a profitable way of saving for future expenses. People who fail to make the proper judgments early in life often come to regret it later in life. Nonetheless, investing alone can be difficult and risky. As a result, I recommend obtaining expert assistance (financial advisors). The challenge is not just watching videos and reading investing books; it is about implementing information effectively.
As an OAP with extensive expertise, I am certain that the success of any investment is dependent on getting the appropriate knowledge, regardless of what others think. I made $100,000 while working with licensed financial adviser.
Based on my expertise as an OAP, I'm convinced that the key to successful investing lies in obtaining relevant knowledge, rather than following the crowd. My personal experience of earning $100,000 while working with a licensed financial adviser reinforces the value of informed investment choices.
Nice. People often underestimate financial advisors' importance. Over 50 years of data reveal that those who work with advisors typically earn more than those who go it alone. I've been fortunate to work with one for 13 years, resulting in a $1 million portfolio, largely from early investments in AI and other growth stocks..
Your best bet for retirement planning is to work in an expensive country and retire in a cheap country. My friend's parents worked in the US all their life, they were middle-low income families. They just retired, bought a house on the beach front in greece and are living veeeeeeeeeeeeeeery comfortably. My other friend's parents did the exact same thing, but with Turkey instead of Greece, and they bought a large villa with a farm.
muhu_88 I’ve heard of people who do this. They live reasonable lives. I think retiring in a country you have never been to and have to overcome a language barrier is better than living in poverty at an old age. Does your friend have to worry about any economic crisis in Greece or are they safe? Money wise and physical safety wise.
Tempting and may work for some people - but for a lot of people this isn't really a good option since they would be unhappy being so far away from all their friends and family.
We did this so the hubby could retire earlier. Went to C.R. Left by 3 years. Statistics show that is about the time frame of how long most people last. Most countries also require you to prove a certain amount of permanent income.
![Lp. Сердце Вселенной #60 РОЖДЕНИЕ ЛОЛОЛОШКИ [Финал] • Майнкрафт](http://i.ytimg.com/vi/YoR0pAV9FVQ/mqdefault.jpg)
As an Irishman, I was very confused about Americans saving money by putting it towards the IRA.
WOW!
I've never thought about that before : )
I put my savings in the NRA.
Wait, why is everyone looking at me like that?
+Top 4ce (Heiko Brunken) not cool, part if comedy is timing and you sir have the worse
I put my savings in the NWA.
If it wasn't in 1989 then you're broke.
Joke's on you. I paid $4000 for the elf-spotting seminar in Iceland, and now i TEACH elf-spotting in America for 6 figures a year.
U are u theif then and the universe will deal with you.
It's not something you learn it's something you're born with.
There are no elves in the U.S.
They're allergic to big feet.
Stonks!
@@dijoncoleman4817 it's called "sarcasm" , Einstein!
I love this show for many reasons. One of them being the fact that it's essentially a collection of research projects from a VERY ENTHUSIASTIC high schooler
Ok, Sally. I thumbed up your comment, but still. Ok Sally.
Who's heart is always in the right place. This starting hysterically and winding into the moral of the story is also very clever.
High schooler is accurate.
Hearing “The president did veto it” and seeing a picture of Obama was incredible
Obama, Obama, Obama? Yes, Obama veto it! Then Wall Street made another loop-poll, naming the fees something else! Then, guess who said and signed a presidential order that said as Wall Street can not just rename something, just because you can? Trump did that! Then your boy Uncle Joe Biden reversed Trump's order! You still have fees there, buddy?
That moment was a whirlwind of emotions and nostalgia for a better political time. 😂 Back then you probably would've never expected that people would one day (soon) be calling it a "better political time."
This video is over 7 years old and he was President
Did you know that the twist of the strands in a twisted or braided rope serves not only to keep a rope together, but enables the rope to more evenly distribute tension among the individual strands.
That is good. Without a twist, swinging the rope and putting a weight on the end may cause the strands on the left and right to snap from tension, causing an eventual breakdown of the structure.
Boy, you really roped us in when you weaved that twisted string of a yarn.
Knot bad. Knot bad at all.
Did you know that sentences that start with "did you know" should end with a question mark?
Punctuation.
ya we all knew
Billy Eichner is so spot on in his Financial Advisor Fee's bit at the end!! That was a good bit and a skit! I loved this episode!
that was the point
+EAS TONES He was supposed to
Try listening to an actual "financial advisor", that's douchebag to a whole new level AND he steals your money for doing basically nothing.
+EAS TONES That's the point
As a person who works in the pensions industry as an actuary, the video at the end is surprisingly solid advice that we keep trying to make people to follow. This is the one episode I actually have extensive knowledge about and I must day I'm impressed with the LWT team's research.
You are fortunate to not be working in the education industry. Grammar and Miss Spellations to you, sir.
If you think small spelling and grammar errors in such a casual format are important you're not in education either. Hahahaha.
I'm not impressed much, and I work in the financial industry. But that's how the laws work here...get bad ones put out by Democrats who know nothing, or get no laws whatsoever put out by Republicans who love taking advantage of people. What should happen is laws that make sense (these don't) should get enacted. But instead you get dip vs. dope, and you get screwed either way.
@@KelRiever are you a financial advisor?
@@KelRiever best argument for dissolution of the two party system
I've just retired recently and I must say I found this video informative and great to review. These psychological concepts are much more useful for individuals attempting to avoid mistakes than I realized when I was first introduced to them. This is probably why Warren Buffett talks so much about temperament being crucial to his investing success.
Developing a solid financial portfolio is more difficult, therefore I suggest you seek expert assistance. The ideas you receive after that can be tailored to your long-term goals and financial desires.
Personally, I would say have a mentor. Not sure where you will get an experience one, but if your knowledge of the market is limited, it seems like a good bet.
The issue is this! Most often, those with little to no experience in the stock market attempt to buy on their own. It previously occurred to me, but I learned from it and contacted "Catherine Morrison Evans" a finance expert with offices in the US, and everything changed. I earned $370k so far in the first quarter of this year.
Bot 🚨... these bots are really getting creative
@@krishnasanyal7 🚨 They sure are... but why is it that I could spot that it was a bot from the second sentence? 😂They're so recognizable even though they're getting so advanced at looking real.
Holy shit! I'm a Certified Financial Adviser now. I'm going to put this right next to my Associates Degree from ITT Tech.
Good thing I make loads of cash since I started working for Ruby Tuesday as a fry cook.
These comments are amazing lmao
great, can u make my retiremnt plan,
oh my god, i think i will never learn anything
CFA stands for Chartered Financial Analyst, and they generally do not work in a client-facing space. They also are extraordinarily smart and make a great living.
9+Haythem jedidi
⊙▽⊙d
Guess who is now an official elf spotter? This guy!
MY MAN!
Looking good!
M-night-shamaliens :v :v
You'll never see me!!
Teach me your wisdoms!
That woman had 2.250% in credit card debt, 35k on student loans and almost 8k on a car loan with interest, and she wanted a loan to buy a 1410$ bag?!?
SO AMERICAN
And the funny thing is, most of the things she owes money for aren't even worth that much, and all of that is bloated and goes to various middlemen and leeches no one will ever see.
America. The best financial advice is not to buy crap.
It's recommended to save at least 15% of your income in a 401k. You can use online calculators to estimate how much you should save based on your age and income. Saving at least 15% of your income in a 401(k) can help ensure that you have enough money to retire comfortably. By saving this much, you can take advantage of compound interest and potentially grow your retirement savings over time.
I'll suggest you create a diversification strategy because building a good financial-portfolio has been more complex since covid. Recently my colleague advised me to hire an advisor, surprisingly I have accrued over $120K under the guidance of my coach during this crash. She figured out Defensive strategies to protect my portfolio and make profit from this roller coaster market.
If you’re new to investing or have a more complex financial situation, It can be helpful to work with a financial advisor who can provide personalized guidance and help you make informed investment decisions.
On the contrary, even if you’re not skilled, it is still possible to hire one. I am a project manager and my personal port-folio of approximately $750k took a big hit in April due to the crash. I quickly got in touch with a financial-planner that devised a defensive strategy to protect and profit from my port-folio this red season. I’ve made over $150k since then
How can one find a verifiable financial planner? I would not mind looking up the professional that helped you. I will be retiring in two years and I might need some management on my much larger portfolio. Don't want to take any chances.
Rebecca Nassar Dunne is the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment..
In Canada, "financial advisErs" are fiduciaries, but "financial advisOrs" are not. Not sure who came up with that rule.
You can check their registration here: www.securities-administrators.ca/investortools.aspx?id=1128#check
@@yogsothoth00 0bhbbbp
That’s hilarious if true
Same person that can’t spell Color (Colour)
They are fiduciaries dumbass
I'll put my degrees in Financial Advising and Elf Spotting on the wall next to my Liberal Arts degree
With those qualifications you get the prestigious job of being an assistant manager at a Starbucks.
I was going for the CEO of a ceiling fan painting business.
+SkyrimEs5 if he's lucky he may get manager
You remind me of people who complain about student loans, except they really do have stupid degrees like that.
Elliot Schmidt I think you need a PhD in gender studies to get that position.
Right. My 401k takes more fees the larger it gets! I have to tell myself “any retirement is better than no retirement” they are seriously taking 4%
I'm 66, and also retired, and don't understand why people work to age 70, just so they can buy more stuff! Time doesn't have a price tag, so stop wasting it to buy more material objects, that you can't take with you, I rather use it to invest and build wealth for my generations to come, as a parent its always important you teach your kids financial literacy and always have good experts to guide them..
My Retirement investments have prospered because of Sir John Desmond Heppolette's supervision. But it's important to remember that the quantity of capital invested ultimately determines rewards. A large start-up cost increases the likelihood of bigger returns.
🚨🚨 SCAM ALERT 🚨🚨
God damnit dude the finance bots have invaded Johnny boy's channel too
@@scotchbingeington6761Amazing, isn’t it!
People fall for it all the time….sad
My husband’s cousin’s mother left lots of money in programs for her toddler grandchildren’s college education. The bank’s trustees were in charge of it, and by the time the children were ready to go to college, their programs had NO moneys left and, in fact, they owed the bank trustees money for fees. This was back when we were getting as much as 25% increase per year.
The existence of the Suzie Orman show is proof that people will do anything if it means not calling their mother. You don't have to call into a talk show to have some middle-aged woman tell you not to buy something, just call your mother and she'll do it for free.
Yeah, but she won't whine about how you haven't called her in weeks or months for half an hour before telling you not to buy a designer handbag you can't afford. Also probably won't ask you if you lost weight.
@@alexandrezani so call her, consider it as a fees for her financial advice
Not everyone's mother knows everything about everything. In fact, most mothers will work against their children's best interests, for various reasons.
Not everyones Mom is a financial pundit bruh
@@Poppa_Capinyoaz what do you mean most mothers most mothers want their children to succedd
It's official. Janice from Accounting has finally given a fuck. That's it, everybody. You can go to sleep now.
This was the real shocking news
I know i should feel happy and a sense of achievement.... but i just feel empty. What is the meaning of life, when black holes break the laws of physics and Janice breaks the laws of the universe by giving fucks? I'm so lost :(
+Konsta Hietala 😇😈 😯 😡 😢 🙇 👂 👍 APPROVED BY GOD I HAVE SOLVED MATRIX NW 🌐 👹 ILLUMINATI FASHION BAPHET ETERNAL.🔥 ANYONE OR GOD420 💜 ✌ 🐝 🎓 💯 OR CONTINUE TO FEEL LIKE A VACUUM SOLVED THE HOLY GRAIL WE ARE IN A MANDELA AFFECT CAUSED BY CERN GOOGLE BOTH LIFT SPIRIT PEACE
I hope something happens next week that makes her stop giving fucks
The changed Janice wears the same shirt as me. Should I be worried?
Honestly John Oliver is such an amazing person and is literally helping us fix the world by pointing attention to the things that usually past by us unnoticed and contribute to the fucked up power dynamics people have in this world. I love this show so much.
I just retired, but I am uncertain that my 401k and IRA will ensure a stable future. I have $900k set aside, I am seeking an approach that matches my risk tolerance and financial objectives. Please I need advice, should I invest in stocks or real estate ?
You should explore rosters of dividend aristocrats and select six to ten from the compilation. These esteem companies boast a remarkable history of consistently paying dividends for over 25 years. Furthermore, it is discerning to engage a financial advisor to help in crafting a meticulously structured portfolio.
I am interms with working with a financial advisor. It has really helped in shaping my retirement future. I am currently working with CFP, his expertise on wealth management and tax planing is unmatched. He has really helped in optimizing my financial growth and security. He works in accordance with my financial goals and my risk tolerance.
Yeah.. I think the first concern of any experienced financial advisor is to understand the financial objectives of his clients and the amount of market risk their clients can tolerate and working closely with them to produce a strong result.
I agree. My advisor takes time to understand my entire financial landscape and this has earned me high net worth across all my holdings.
Please who is the advisor guiding you. I have actually been looking into financial experts lately, but I have not seen to get a creditable one.
Awesome, I'm about to graduate university and I was starting to look for some decent advice on planning for retirement.
Thanks, LastWeekTonight!!!
+Sampamandla Hlela If you educate yourself about finance you can do the investing yourself. In the mean time save your cash, ladder the expiring date of a few CD's. The FDIC will insure up to $100k so conceivably you could keep it all as cash. Not a good idea. Eventually, diversify your portfolio. Mae West always said 10% in diamonds. If you invest in things, you'll have to protect them. Things also become a burden at a certain point. Things are only worth as much as someone else is willing to pay for them; not what you paid for them. Before buying bonds make sure the city or other issuing entity isn't going to go belly up. Watch the stock market. Unfortunately, it's just as addictive as gambling so set yourself a limit as to how much you are willing to loose. It's not a bad idea to have in mind a lower expected rate of return than anyone promises. I can not speak to real estate, like flipping, except after having lived in a condominium over 20 years, never by a condo. My dad used to own a six-unit apartment building. Yes, there is rent, but the upkeep is huge and, your relatives will resent you for asking them to work for free. Neither my husband nor I have control over what's in our pensions. When you're looking for the employer of your dreams ask them if who has control over your money. There are a thousands of Funds out there. Look at ones that invest the way you like: green, only US, only overseas, on and on. Since you are young plan for inflation. At the moment I think the average rate of return (what you will live on once you retire) is about 4%. How much money are you going to need to be comfortable? When you are comfortably situated you could buy art. Only buy art you like for yourself, or from artists you like. We inherited an antique teapot. A seller was asking $7k for it online. We were offered $300. Watch out for pyramid/Ponzi schemes or potential business partners; even the richest people can be taken by a scam artist. When you do have money the only way to loan it to anyone (family included) is to have in writing how much they owe and the repayment schedule. Do not be surprised when your company-provided health care pays 80%, you pay 20%, and the life-saving ER you pay could well be over six zeros. You may need to start out with lower value clothing, but try to limit that to recreational clothes. When you can afford a tailor-made wool suit, it's worth the investment. After the important meetings, you can wear it to your kids' weddings and on into retirement for other important occasions. That same suit will look good if you keep yourself in shape. On a more personal note, watch out for friends who see you are well off without seeing your hard work to achieve it. A lot of people have false expectations that you should be buying them dinner, jewelry worth at least $XXX, a car even. Don't.
Welcome to life.... now get ready to have your teeth kicked in for the next forty years.
What the fuck did I just read.
get a401k only if your company matches. put all on the safest investment like savings except you are getting matching funds.
save and get the money out to buy a house you can pay off in ten to fifteen years. then the house will appreciate and you can sell when you are old. keep working save and buy more real estate
diamonds are a terrible investment....
I am extremely happy they got that dude from Parks & Rec to do that last bit, brilliant!
you British people overextend the word "brilliant"
I am not British
i read your sentence in that guys voice. including my own. why am i yelling???
what was his Code name given to him by Chris pine?
That guy in the final skit is absolutely FABULOUS!!!
Gredddfe if I'm correct its the same guy from the honey badger voice over video...
Obama_Ate_My_Chicken the honey badger guy's name is Randall and here is his channel: ua-cam.com/users/czg123
the man in the video is Billy Eichner. he's acted in a handful of things including Parks & Rec and Bob's Burgers
although Funny or Die is a platform for both the honey badger video and "Billy on the Street" ! and they do sound very much alike :)
My strategy is; buy quality companies, expect to hold no matter what, pay up but don’t over pay, keep track, sell rarely, be ready to course correct.
@andrew williams 😍😍😍
@andrew williams you are so dumb if you actually go through with that lmao holy hell. This entire video is about not falling for scams like this woman. Financial advisors are a very expensive joke. Do your own research on trading. If you dont understand it by yourself, you DEFINITELY should not allow others to manage your money lol.
Buying quality companies means you missed the point of the video - index dummy
Are you dense? Did you even watch the video
I don't need a damn certificate to know an elf when I see one.
HAHAHA
look, it's not about the elf spotting skills, it's about the elf spotter contacts and networking
suriel912@hotmail.com
In this type of economy do you think people will look at you without an elf spotting degree and say "Oh wow, let's hire this guy! He must know his s***!" Nah don't think so. Now go pay for that degree.
From what I heard, you have to know someone in the business to get any job in the elf-spotting industry. Even a good degree won't do it...
Thank you John and everyone at Last Week. I just started my first job offering a 401k less than a year ago and there are so many options it's overwhelming. This has been so helpful to put my mind at ease. Never stop making this show.
Janice in accounting gave a fuck. my life is complete
baby steps
+Chasing Garak Yeah but he's catering to Americans and we all only really care about our own money, lives, etc. We will kill 20 million people destabilize a whole region and call it democracy, while stealing oil and heroin. We didn't care gas was like 5.00 a gallon and the heroin epidemic didn't hit home yet. One affected our pockets the other took awhile.
Complete?! My whole world is in shambles! ! Janice and her lack of fucks was the one constant in my universe of uncertainty!
Good on you, Janice. And she got a kitten!
Does anyone else’s inner voice start sounding like John Oliver for a while after watching the show
No not at all, but It does have his tempo and accent of speech for a while, which I find very disturbing Indeed. I don't know why I find it disturbing, maybe its becuase he's not supposed to be in my head, or maybe it's because he's objectively the second best Zazu, and I'm objectively not any Zazu. Anyways, I think I need to end this before that inner voice start saying he would fuck that horse, aw dammit too late, you did it again inner voice that acts like john oliver, you did it again
@@ilovefunnyamv2nd oh god I read that in his voice. Is this a blessing or a curse?
Janice from accounting is my new favorite person
Goodbye Jordan Schlansky
When Janice in accounting gives a fuck you know shit got real.
What is wrong with you? Jordan can never be replaced.
Finally a game for children with no necks.
God bless you, Janice from accounting. You finally gave a fuck.
Obama's fiduciary rule, which Oliver rightly praises here, was immediately thrown out by Trump as part of his "Lets Build a Giant Swamp for the Corrupt, Greedy top 10% to Wallow in" initiative.
intelligence, has escaped everyone one of the trumps, except this one, and he choose to hide how smart he actually is:
slate.com/news-and-politics/2019/03/trump-has-gone-to-ridiculous-lengths-to-keep-his-high-school-grades-from-getting-out.html
I don't think I've heard trump do anything to benefit the middle or lower class. Greedy pig, lol. And to think when John Oliver mentioned the house and senate, he'd mention how they stood up for the fiduciary rule. I was stupid to think they would do something that would benefit the common people
No, the DOL Rule was killed by courts.
basically what john is telling you is, if someone is claiming to help you in america they will have you bent over and pleasuring themself inside you very soon.
@@last7509 Sad but so true.
John Oliver is an elf, I should know, I'm credibly qualified.
people ripping off old people?
FAKE NNNNNEWSSSS!
No he’s a prehistoric bird
@@seniorcitizensnewzealand7855 l
And he ignores elf and safety
The best financial advise I ever got was, oddly enough, when I was in Girl Scouts as a kid. It’s called the 50-30-20 rule. Essentially, if you are able to, 50% of your income goes towards bills, 30% goes into savings, and 20% is left over as rainy-day money
I like this rule 😂
Unfortunately, not a lot of people can put this guideline into practice today, since most people end up paying more like 75% toward bills (if not 90%, cause college be inflamed as hell) because the majority of U.S. jobs don't pay shit compared to the local cost-of-living.
Sounds good as long as you can cover your bills with 50%. Most people barely cover their living costs with 100%
You remembered it wrong. It's 50% goes to bills/needs, 30% goes to wants, and 20% goes to savings.
@@lvega5606 so you're saying that after spending 100% of one's income on bills, savings and rainy say funds nothing is left for anything else? XD Wondered why no one else saw the 50-30-20 rule was explained wrong
thanks John! now that I have my elf spotting certificate, I have already spotted 2 elfs. I am glad I didn't waste $4,000
and now I am also a financial advisor. thanks John!
did you happen to find any mushrooms near those elves ?
bitcoin
+N3yAnderson bitch coin
You can spot many more if you play Elder Scrolls Skyrim !
I love some new John Oliver before bed.
Same.
I love some new John Oliver here after lunch
I love some John Oliver when I wake up
Exactly
Same I was about to go to bed and then I found this and had to watch it!
Excuse me, I'm a completely sober college student who decided to read the entire Wikipedia on Rope.
Headed there when this is over.
Cajer 1618 👏👏👏👏👏👏👏👏👏👏👏👏👏👏👏
It's 11:31. Now I get it.
Bravo 👏 wish I can reach the same saris as you one day you are a man above men or women
How about writing the page "Colored ropes" for a change?
As a South African financial advisor, I'm so glad the regulations in our country are so tight and strict. Transparency is king!
Are you a fiduciary?
"As long as you do everything right you'll probably be ok." Why is that the answer to everything in this country.
Why do I always watch this? I'm not even American
same here :P
lol same here .
Knowing that things like this exist can always help you wherever you are
Arturo Mesirca Or to know how fucked up America is sometimes:p
+Jordy Shujaa Yeah 😅😅
That's exactly why I stopped working as a "financial advisor" for Prudential - I couldn't live with it on my conscience. There are a lot of laws but they bend the laws ALL THE TIME. You have to educate yourself, but I found that almost NO ONE educates themselves about their finances, even the most basic of basics they just don't know.
@
xuyahfish what did you end up doing instead? what are the most basic of basics?
Prudential manages my son's 401k from the hospital where he works. Since he pays about as much attention to finances as I did at 26, he had me look through his allocations. They had him in high-fee heavily managed funds with their "automatic" feature. I transferred every contribution from those into their few Vanguard offerings (mostly index funds), and he went from double digit losses in the final quarter of 2018 to double digit gains in the first quarter of 2019.
Erin Stade I wish I even understood how to make evaluations like this. I have my 401k on auto by my age and I don’t know how to see much more than balance and contribution. How do I learn all of this?
It's true, I wanted to do the right thing by investing my retirement savings .. But had no idea how or what to invest in. I spoke with a "Financial Adviser" who put my portfolio together but, the statements I would receive monthly were the equivalent of trying to read Chinese. I could not understand anything in them, just bought this, sold that...#'s and terminology all over the place. Every year my tax accountant would say, well you made this much, but multitude of fees would chew into profits and basically had a pretty small return on my investments.
After about 8 years of these small returns and the fees eating up most potential profit...I closed everything out in 2009. I took my total retirement investments ($70,000 at this point, so not much) and started investing in buy and hold real estate. Wah-Lah...as of 2020...I hit millionaire status via real estate assets and have a passive income of $4500 per month from rental income.
Would you be interested in making a video about your experience/what the basic of the basics even are?
If you're watching in 2020, there's a new regulation that requires financial advisors to act in your best interest: Regulation Best Interest (aka Reg BI). It went into effect this year.
The president repealed it.
@@johnmidwest5650 Nice.
@@johnmidwest5650 No he didn't. The SEC is still enforcing it. Finance companies have to start complying on June 30.
@@maybemynameisliz: Sounds like the thing Trump and his team should be putting their time, money & energy into, in May 2020.
@@johnmidwest5650 get your facts straight if you're going to comment for everyone to read.
Random guy: who watches John Oliver at 3a.m?
Me: oh boy three a.m!
WOOO! 2:30 IN THE MIRNING
1:30 a.m. here... I win. lol
*munches Krabby Patty loudly*
8:56Am go Ireland
8:37PM go New Zealand!!!
Thank you John Oliver. This video potentially saved me hundreds of thousands when I retire.
Why? Where will you keep your money then? Serious question and i will supply an educated answer.
@@TheSphericalPrison probably in a non-managed fund like the video suggests. They perform as well or better as managed ones and do not charge fees.
@@thomasf.9717 Ok, state the non mananaged fund you are on about? How does it compare to other non managed funds? What is the innitial period on these funds? What is the fee for exiting the fund? What happens to the fund if the indices plummet?
A finacial advisor does more than manage finds as the video suggests. A proper finacial advisor will help you to get the biggest and best yield. Not all are scam artist like the video suggests.
@@TheSphericalPrison I'll state that fund as soon as you show me my post where I was talking about a specific fund. Hint: I wasn't.
You really don't need a financial advisor, just save 15% of your gross income and invest it in a couch potato retirement portfolio (google it). Invest first in Roth options (Roth 401k for company sponsored plans or Roth IRAs for personal funds) until you max those out and then put everything else into traditional options (401k for company sponsored plans or traditional IRAs for personal funds). It is that simple.
John's "advice" that somehow if you don't earn enough income that you shouldn't or can't save for retirement is terrible and ludicrous. You always need to live within your means and plan for the future no matter how much you make.
A guideline to creating a profitable industry:
Step 1: Take something fairly simple
Step 2: Make it sound all fancy and hard to understand for people
Step 3: Offer them your services to make sense out of this clusterfuck you created
Step 4: Enjoy
You need to produce a segment on the problem of people buying "teacup pigs," only to realize there's no such thing, thus then trying to figure out what to do with a hundred-pound hog in a New York City studio apartment.
Really? Didn't know that. 😅
@@saschamayer4050 Yup. "Teacup pigs" are really just either baby pigs or under-fed/malnourished young pigs (this is super sad). And apparently pigs are usually between 300 - 700lbs, but can get MUCH bigger.
Aren't there any farms that would take them?
@@KikiChan_007 perhaps. But then you’d have to figure out a way to get a hundred pound hog down the elevator and into your car. Then you pray, because god knows that hog boutta shit and start wallowing
@@alecwhatshisname5170 you sir made me laugh
Just printed my Elf Spotting Certificate. I'm going to frame this!
Ask your unemployed financial adviser today for how to frame certificates after he figures out how to do it and calculates the fees.
I printed my Financial Advising Certificate. That frame would be a waste of your money.
The Prof. at your school allowed you to print yours? I had to get mine printed.
Sir Francis It might be time to re-watch this video.
What video? I thought this was the forum for retirement assistance.
I am _so_ printing off my official Elf Spotting certificate.
I wonder if I can add that to my business cards?
it would make for some good conversations
+Alex Perez That one sentence is the sole reason I watch this guy.
you certainly look like a Professional.
Formor Immington who me? That profile image is the only time you'll see me in a suit, lol. I sell real estate and I have to have at least one picture of me in a suit, hehe
Matt Johnston it looks like my dad's picture on LinkedIn xD
I hope Janice continues to keep her shit together.
yes we all welcome the turn around, she just need a man in her life
+sipho malinga was that man John?
+patrick harrison No, that man was the expensive broker. She was 2% interested in him, and her interest will surely compound over time. But not as much as it would for a cat.
I remember the first time I watched this, on a whim, I looked up and read the entire wikipedia page for rope. It was not an hour well spent.
Devin Gendron I don't believe you.
he probably doesn't need your approval
I’m currently retired, and considering the current rollercoaster nature of the stock market, I decided to stay on the sideline for awhile, now I’m worried with the numerous bank failures as of late, am I better off reinvesting my savings in the stock market or do I wait?
I don't have a full-time job; instead, I'm self-employed with a variety of sources of income. Regardless of how much money I generate each month, I maintain the same budget and adhere to my means-tested lifestyle.
Sometimes realistic factors discourage people from reaching their goals in life. For instance, I've tried investing in the stock market several times but always got discouraged by fluctuations of stock value
A lot of folks downplay the role of advisors until being burnt by their own emotions. I remember couple summers back, after my lengthy divorce, I needed a good boost to help my business stay afloat, hence I researched for license advisors and came across someone of due diligence, helped a lot to grow my reserve notwithstanding inflation, from $275k to approx. $850k so far.
I think this is something I should do, but I've been stalling for a long time now. I don't really know which firm to work with; I feel they are all the same.
I definitely share your sentiment about these firms. When I was starting out, I checked out a couple of freelance investors online, so you could do the same. I personally work with Julia Hope marble and she's really good.
the guy at the end needs his own show
he has his own show... billy in the street
I really hope Syrian was being sarcastic; don't like Eichner.
His own is a show is where he gets to scream at people on the street, which he will probably do to your comment.
BioCapsule Oh I know, which is why I made my comment, if you were referring to me.
delugesofgrandeur Nah... was meant for the OP.
I've learned more from this show and the internet than I've learned from school
what did you learn from this show?
How the government will ultimately screw me over in the future and how to make the inevitable depression easier on my mind.
+Demonic_Phoenix :( you'll be fine :)
same
haha good joke
You made a joke about reading the Wikipedia titled “Rope” and I took it as a challenge. It was actually quite educational. Lol. 😂
Clay Kress same xD
Were you wasted?
@@DIESEL0759 my woman loves what I know about rope...
@@jsalvatori
I have no doubt...
@@jsalvatori LMFAO
Retirement is a wonderful feelings when it is done with a good plan, some gets frustrated when they are retired because of lack of good plans of living
Yes you're right the key of happiness when you have retired is the amount of money you have saved during your working days.
@Mia Lucas you are right the market is moving well, bitcoin is now 56k I believe it will raise before the end of the week.
I would have love to invest in bitcoin and other crypto currencies but it's difficult to understand the market.
@@elenabaldo2319 as a beginner I will advise you to work with madam Cynthia Edna, for good and huge withdrawals.
@Saud Farha yes you're right
Anyone need a Elf Spotter, i am the man to call just got my certificate.
I called 911 asking for you they sent my to the asylum
We learned that won't work like 5weeks ago
Good for you haha I might need to trust your skills because of the certificate
If you need some financial advise, I'm a newly certified financial advisor looking for some business.
I've seen my fair share of elves when I watch Lord of the Rings, almost all Santa movies, and Orlando Bloom.
To everyone in the comment section saying "First", "Second". You have made your family proud.
I hope to get my screenshot of "First" put on the fridge one day.
i was third, will my mom still proud of me?
No she is going to disown you.
+airil sra NO!
You are a disgrace to your family!
First
John Oliver and his writers are awesome at taking something complicated and breaking it down in an interesting way so many of us can understand.
complicated??? only when its time to set the fee for your service. talk to a group of 5thgraders. they will understand because they hv all the necessary math.
Diversification is the secret to optimal performance. This is why I have my interests set on market sectors based on performance and projected growth, such as stock, EV sector, renewable energy, Tech, and Health. Keep investing regularly and you'll be blown away how much it can change in a few short years. Here's to $1 million and to FIRE
consider investment planning, learning from a well experienced advisor is invaluable
True. My portfolio was diversified across several markets with the help of a financial planner, and were able to achieve over a million in net profit among high dividend yield equities, ETFs, and bonds. It is vital that you have a variety of exposure, including in firms that are currently generating cash flows.
You seem to know the market better than we do, so that makes great sense. Who is the guide?
'Laurelyn Gross Pohlmeier' a highly respected figure in her field. I suggest delving deeper into her credentials, as she possesses extensive experience and serves as a valuable resource for individuals seeking guidance in navigating the financial market.
I just Googled her name and her website came up right away. It looks interesting so far. I sent her an email and i hope she responds soon. Thanks
Janice in Accounting HAS TO be a real person. PLease, let her be a real person.
She is, there's a web special clip where he explains all the people in those pics are real people who works for him.
Sorry, she is an Android. But very lifelike. The Imagineers at Disney are interested in learning more about her.
Her name is Jill Twiss. She's one of the writer of the show. I don't know if she's the one who came up with the Janice-in-accounting running gag, though.
theRKstudio what's the name?
She also wrote Marlon Bundo.
20 min video and now i am finical speiclaist and elf spoter ! and they said droping collage is bad :)
I'm guessing the spelling errors were intentional
four years in collage and nothing to show for it but a sticky mess
I would say so since you dont know how to spell it.
Yeh, just lik they said blood droping was bad.
*specialist*
Your welcome
The opening of this show was so good and a great way to address the Orlando tragedy
Care to explain?
Incidentally, the stock-picking cat's name is Orlando.
+John Nycto Yeah, that's a cruel, cruel irony. 😣
I thought you died
Crux Who? Me?
"Every time there's a new Bond, change more of your stocks into bonds" actually sounds like sound legal advice.
The wikipedia page for Rope was actually pretty interesting.
Came down to the comments with a question on my mind and I wasn't disappointed.
seriously, I was wondering how many other people laughed at that because they've spent a ridiculous amount of time reading similarly mundane Wikipedia pages
Things that seem mundane & obvious usually are very interesting & intriguing when u take a closer look 🧐
420
His comment about the regulation requiring 'financial advisers' to act as fiduciaries - that is, to put their clients' interest ahead of their own - is kind of depressing now: it was one of the first of Obama's executive orders overturned by President Trump.
I’m up here in Canada watching and I can’t believe what’s happening to you people
Everything about Thomas' last sentence is wrong. It was never enacted under Obama, and it was the courts that killed it, not the executive. Those fighting against it were lobby groups such as the U.S. Chamber of Commerce, not the Trump administration, which merely delayed enaction (i.e., instead of being temporarily enacted.and then reversed, it was never enacted in the first place). Also, to be technical, it was neither an executive order nor Obama's to make, but a Department of Labor rule. To be really technical, the final delay before being vacated was also done by the DoL. Politics was clearly a factor, but how it happened is a bit more subtle than Obama enacting and Trump reversing. It was never enacted in the first place.
Trump delayed the full implementation of the fiduciary rule by signing an executive order Requiring a review of it. It did go partially in effect in June 2017. The DOL created the rule under the Obama administration, Obama appointed the head of the DOL, they were part of his administration. He was partly correct, minus it being Obama’s executive order. Trumps order required a lengthy review and delayed it from going fully into effect. And of course he did, dismantling it would eliminate the chance for any oversight or regulation, and that’s he ideal environment for people like him to do their shady business.
Shouldn't come as a surprise. Of course Trump is going to fuck over the people that voted for him and give a giant blowjob to the rich, huge corporations and finance industry. What is depressing is that this shit was ever ok and it had to be an Obama executive order in the first place.
buy VOO and dont have a financial adviser.
6 weeks ago I joined a 401K. MassMutual, the administrator, can NOT answer practically a single one of my simple questions, either by phone or email. Their explanation and fee forms are long and scary. They initially told me my company contributes 3% of salary -- but they contribute ZERO. Maybe MassMutual only charges .53% per year, plus some small extra sneaky fees, based on reading their forms. Maybe. Hard to say. They're deceptive, confusing, incompetent, and they refuse to answer most of my emails.
If your company is giving zero in then set up your own retirement investment, the company won't care, you can bring it to another job and ask them to put their slice (If more than zero). What benefit is there being part of this plan when your company funds zero on their part. Anyone you decide to set up with should have less fees and be more transparent. Pay for advice from an independent advisor and let them recommend from whatever few options you consider. Note many companies who do put in a contribution often take it all back if you work there less than x no of years no matter how generous the contribution they add in. Remember this if it's a contract job "with the potential to be renewed or made full time". Assume it won't and mentally add this into what salary you need to make your own fund contributions. Note fees tend to be higher in any new account set up so switching to a new fund for each job or new retirement company offering is often not the best idea unless there is a deal on fees to get you to switch.
You'll have to check with your company...but at almost every company it's a "401k match" - usually they only match if you contribute money. For example if you contribute 4% then they will contribute 2%, if you contribute 6% then they contribute 3%, if you contribute 0% then they will also contribute 0%. So if you aren't contributing anything that's likely why you aren't seeing them put in the 3% you are expecting.
Yes sir. Their (your) 401k just happened to turn into their own expense account. They use your money to make investments in their own interests and give you hell if you ask to borrow any of it..and on top of that you get penalized twice for taking out your own money! I mean wtf sense does that make! Also it's counted as earned income so you'll get taxed for it as well lol yay 401k!
@@Adam-zq8sl only part of that contribute plan is when you need it they take the same contribution out of the funds you ask for. It's better just to have your own person savings or an IRA
just a kwik answer but if your company doesnt contribute then u dont lose anything by firing mass mutual and doing it on your own. just remember it is simple. lots of responses in these comments r on the right trak because it is simple. dont b afraid. the cat is doing ok
I wouldn't be surprised if they end up charging a fee calculation fee eventually. "Because someone had to go calculate them."
That's a shitty accountant. Fckin that
I mean in a perfect world everything should be simple, but our tax codes and financial laws are written to be dense on purpose. People want to take advantage of others' ignorance and capitalize on it. A huge portion of our economy is based on this fact.
For the most part, they weren't really _originally_ written to be dense on purpose. However, certain interests actively benefit from the habit of adding more and more rules without ever getting rid of old ones. It doesn't help that Congress is gridlocked and can barely pass a general budget muchless do anything much more meaningful.
Truth is singular. And lies are just words, words, words. If something, other than metals, is dense, corruption is afoot.
Levity your words are meaningless. Truth isn't singular, it cannot be applied the same way in all instances. I get that you're probably like 15 in high school thinking your deep for saying things like that but your comment is fluff. There are many truths because truth is subjective. There is no objective truth or reality that is the same for all.
Calm down ... Levity is just quoting doctor who.
Tim Southern You. I like you.
If a bill is short and to the point, it would be awfully hard to hide the fact that a corporation was mentioned by name. Instead of the law applying equally to all. You know, corruption, corporatism. That's what I meant.
Entertaining and educational!
Retire Certain Milf alert...
Retire Certain nice video👍🏻 the message was so clear And audible that anyone can understand the content
By the way how are you doing
I feel the need to mention that the laws around this in Canada are a LOT more strict. When my husband (a Canadian financial advisor) spoke with an American counterpart, he asked about training and how the exams were in the U.S. Not only did the American financial advisor do only a weekend course in Mutual funds, insurance etc, with exams which were - in his own words - a joke, but of those courses there was zero discussion of ethics. My husband was blown away; it took him months of daily study and several week-long courses for him to pass the multiple exams of which there was a whole day-long exam devoted to ethics. So here in Canada, financial advisors at private firms are prohibited from doing the things John Oliver is describing in this video. Financial Advisors amployed at Banks generally have to meet sales targets for certain products (like credit cards etc) but FA's at private firms only have your own personal financial goals to take into account. Also laws in Canada were recently passed that require both banks and private investment houses to disclose all fees. Generally bank fees are higher than those of investment houses so they are sweating a bit about having to disclose them.
Katie Stevenson adviser or advisor?
Invoice maker
the thing that always gets me with these is, no matter if they "Win" or "Lose" gambling with your money, they still get paid a ton of your money. and in many (if not all) cases, they make more off of your money than you do, at zero risk to them.
I just got my Financial Advisor certificate!!!
And an Elf spotter certificate too?! Thank you lastweektonight.com!!!
im rushing there to get mine..hold on
got it..
+grace kaveke lol
that certificate is about a 10hour exam. Certified Financial Planners .. that exam is no joke!
The thing is, finance is a lot easier than people think it is.
There are some generally-recommended, safe investment options (bonds, index funds) as well as retirement plans that provide a steady return over time with little effort. You don't have to gamble away your money by trusting it with a financial advisor - or, potentially worse, putting all your money in stocks without spending the time it takes to do it well.
So, once you find an investment vehicle you're comfortable with long-term, you'll have an idea of how much interest your money will accrue. Plug the data into an online interest calculator and it'll be able to tell you how much money you have to invest at a given interest in order to be able to live off of it after you retire.
A much bigger problem is for the many people who can't do any of this because they don't have the money in their youth, and thus never accrue interest on any money, and instead have to keep working long after they'd hoped to retire.
I guess the bottom line is: Don't trust the banks. Banks make money by literally taking as much money as they possible can from you. When you need the services of a bank, remember this. They're not your friends. They aren't there for you. They're not there for the economy. They're a necessary evil you need to avoid as much as possible.
For the record, I'm talking about index funds without active management. Some actively managed funds aren't as bad as others - some may even be good - but in most cases, active management is just less efficient for you - since, even if the active management makes the fund significantly better, the manager is taking the vast majority of the difference anyway.
Active management simply adds a risk to your purchase of index fund shares that you don't need, since passively managed funds have shown to be just as good or better.
Also, the banks largely consider you a rube unless you're a very wealthy person, and as such will offer you drastically worse terms and conditions than they would offer well-connected people. Don't ever trust the bank to give you good rates on anything.
By the way, I'm not an expert. I learned all of this in less than 6 hours, using economy lectures from The Teaching Company and articles from various sites (never trust just one site - only trust what they all agree on. If it makes sense.)
Yes, if you're a complete moron it can be helpful to have someone less dumb to tell you when you're about to do something dumb.
"The thing is, finance is a lot easier than people think it is."
Tell me about it, I got my degree about 3 minutes after I set my mind into being a financial advisor... my inkjet printer takes a while to warm up.
Financial writers have recently begun criticism of index funds. The reason being that some of the funds are so popular now that many of the major indexes have included companies with dodgy fundamentals into their index group,thus rendering some indexes more volatile. So choose your index funds with due diligence.
Very well said !
Sadly, the P45 administration repealed the fiduciary requirement for these "professionals". The good news is, you're better off without the fund manager/financial advisor/whatever and just invest in low-cost index funds.
Courts overturned it. But knowing that would require you to be intelligent and actually read, which is too much to ask from an idiot.
@@4jp The Fifth Circuit Court of Appeals, 3 judge panel, based in New Orleans, vacated the rule. The US Department of Labor could have asked for it to be reheard by the entire court, but declined to do so, because, you know requiring financial experts to actual put their client's interests first would somehow be "too burdensome".
@@taberav No, stupid, the requirements for compliance would be too burdening, which was expected to cause reduction in competition in the market. This is what happened with a similar rule in the UK. Firms sold off their advising arms as a way of reducing costs of business after rule went into effect. Just do the reading on the topic.
@@4jp Your example only points out the reality that these "professionals" do not actually provide a valuable service to their clients. They only way they can make money is when they do not act as a fiduciary. And, I have done my reading. Your name-calling is a symptom of not having valuable input to the discussion.
@@taberav You are wrong. You do not understand any of this. Your simpleton's approach is far too common. I hope, for your sake, that you are a child, because no adult should be as simple as you. The complaints were purely about compliance and its costs, not advice provided to clients. Companies do not want to deal with regulations. Small companies may not be able to do it.
American workers are experiencing unprecedented declines in their real incomes, which is why record numbers have been forced to work multiple jobs to make ends meet. When we talk about 9.1% inflation, the media acknowledged the true rate of inflation of about 18%?
Very well articulated; I wish I had more time for trial and error, but I'll be 56 in August and I need ideas and advice on what investments to make to set myself up for retirement, especially with the looming inflation and recession; my goal is to have at least $1 million by the age of 60.
There are a lot of strategies to make tongue-wetting profit especially in this down market, but such sophisticated trades can only be carried out by proper market experts
@@Robertgriffinne Yes, I've used such expert, an investment adviser at that, and she really worked magic on my portfolio, initially I was always in and out of the market, selling at a complete loss but for the past 2years I've been mostly in the green, earning steady profit irrespective of market movement thus gaining over $850k+ in the past 2years
@@marianparker7502 Sweet! how'd you go about getting a proper investment-adviser like that, I've had plans to touch base with one, I'm just not sure how to go about it, I don't mind looking up this one that guides you.
@@marianparker7502 Thank you, I researched Ms Ann and I went over her site and qualifications, she seems pretty tight and I've scheduled a call.
as a financial advisor, this video is 100% true lol. Personally tho, I'm not commissioned, however the company I work for give me a better performance rating if I sell certain funds. But I don't give a fuck and tell people to buy index funds and ETFs all the time, and what's what i invest it only 😊
and that's what I invest in only*
You mind advising my lump-some? I'm trying to grow it but it'd be really helpful to have someone else activly managing it.
...hue hue hue im terrible...
+Drakkose don't actively manage your lumpsum, let it passively grow - that was the whole point of the video!! Now, if you were making a sly sexual innuendo, then idk I can't help you there 🙃
LoveAnimexoxo
It was sly sexual innuendo. v.v
*ahem* ... i feel silly now...
+Drakkose 😶
Man, give a hand to those researchers for helping out the rest of the company with their retirement plan!!!
this video was intrest-ing
puns for days!!!!!!
*Badum Tsss*
W
My financial advisor wears an interest-ring.
Get out.
What a brilliant episode. More people around the world need to watch this.
"Last Week Tonight" is cable television awesomeness!
John oliver; thank you again for another entertaining yet educational episode!
You're the best!
Financial planners: One of the greatest deceptions pulled on the population is that they can't do it themselves. They've been told they can't do their own taxes. They can't invest without help. It's a form of the harm caused by 'lowered expectations.' As he points out in the video, it's not hard. Pick index funds, rebalance once a year, add more bonds as you get older (or just buy a target fund made up of index funds). That's it. You can expect long-term success with that little of info.
401(k): If your company offers one, you absolutely should take advantage of it. Any good company will offer a match, and you will never get a return as good as that on your own.
Fees: Low fees are fundamentally important. Always, always pick no-load investments with low fees. Also, funds with the lowest fees typically outperform funds with high fees because over time, neither will beat the market, and the lower fee fund will skim less off the top, thus giving you more.
Advice: Absolutely yes, start saving as soon as you possibly can. That cannot be stressed enough.
Low cost index funds are great. Target funds made up of low cost index funds are also great. Also check out what's known as the Margarita Portfolio; it's a super simple investment mix with a proven track record. You don't have to get fancy to be successful.
Fees: Vanguard's index funds have fees that are typically under 0.25%, not just under 1% as advised in the video. (Disclosure: I invest with Vanguard.)
Agree with you
Since you seem to like Vanguard: www.edelmanfinancial.com/education-center/articles/h/how-much-is-an-advisor-worth
People can certainly do it themselves, they just don't.
Jake Tweet
Great link. IMO the title is deceptive, though.
The increase in performance is due to proven investment strategies like long-term focus, diversification, rebalancing, etc. It isn't through picking winners/losers like managed funds. The information to do all the work is readily available for free. I do agree that people who don't have confidence or discipline to act without someone prodding them, then an adviser/coach is beneficial.
You are correct in that it is "not hard" to pick your investments, rebalance, etc. However, while it is SIMPLE to do all of this, it is not EASY to do this because so many people let their emotions dictate their decisions when there's a massive bull or bear market. THAT is why so many people would be better off paying a financial advisor to manage their investments -- to keep themselves from making potentially catastrophic decisions based on emotion. (I would never hire a financial advisor who isn't a "FEE ONLY" advisor -- NOT a "fee based" advisor -- there's a HUGE difference between the two. "Fee Only" advisors must always act as fiduciaries for their clients.)
I've never seen such an entertaining yet depressing show that still leaves a glimmer of hope for the viewer at the end. It both shows how dark and depressing reality is, while also providing ways we can try to make things better.
Also, my key takeaway from this and research on my own is that passively managed investments are the better choice in the long run (although I'd say that's mostly because of the cat)
Yes. That happens a lot here.
My wife and I did very well in the amount of money that we amassed for retirement. Well over 80% of that money was made because of taking advantage of buying high-end stocks at a deep discount during the Great Recession. 2009 I fired the stockbroker got rid of all mutual funds and bought individual dividend stocks. Be patient don't get scared and do your homework and you can make a killing.
I am 54 years old and my wife and I are very worried about our future, with gas and food prices rising every day. We have seen our savings dwindle with the cost of living in the stratosphere, it is impossible for us to replace them. We can manage, but we can't move forward. My condolences to everyone retiring in this crisis, all those years of working just to lose it all in a crisis you didn't cause.
@@erichkraetz2622 I feel your pain mate, as a fellow retiree I’d suggest you look into passive index fund investing and learn some more. For me, I had my share of ups and downs when I first started looking for a consistent passive income so I hired an investment advisor "INGRID CECILIA RAAD" this year for assistance, and following her advice, I poured $150k in passive diversified safe-haven assets and its yielded $325k so far. Nothing special, just proper diversification and a cut loss and take profit strategy.
I think it's especially difficult for retirees and near-retirees, I know to focus on the long term but the anxiety when you're supposed to retire in 3-5 years is exhausting. it is difficult for me to participate in the market right now due to the full-time nature of my job. it will be too stressful to combine so I don't even think about it
@@joesphcu8975 joesph? Who the duck is named joesph? You can't even spell your name right but you're giving me the full name of an "advisor" who you claim more than doubled your money in a year? In the comments of a video telling people to be prudent and careful about their retirement saving? You are full of low grade baloney and should be ashamed.
@@stephaniestella213 You too. These are obvious fake accounts of some desperate internet scammer.
this was an easy topic to do. I'm a CPA and the amount of trust there is in "financial advisors" in "wealth management" is crazy. If John Oliver team wanted to explore this topic more, they can go into the world of financial certifications such as CGMA (this is pure bullshit), CAIA, etc. Other topics to do would be law school industrial complex, MLM, etc
also, Paul Walker's killer was a wealth adviser.
The best show on tv, who else can give you a diploma within the first 70 seconds of the episode.
Gotta go, adding new skills on my Résumé. Cheers Milhouse 🍻🍻
With my Elf Spotting and Financial Advising certificates, professional success is virtually guaranteed. Thanks, Last Week Tonight.
Duckmeister You need to enroll in advanced elf breeding and farming!!
Way ahead of you. I’m well on my way to building an elven empire, all thanks to my mail order elf spotting certification.
Ty bosses 😉
My dad said he was going to spend all of his money before he dies so everybody will be sad.
A real man
your dad is a level of madman i wish to become.
Hahahaha xD
So now I can offer financial advice to all the elves I've spotted
Retirement is easy - work in the US - retire in South East Asia. I retired at 48, and have been over here in the Philippines 6 years already! Best decision I ever made. 😃
Fascinating 🤔
Yes but just how many elves have you spotted?
And how many STDs do you have?
No STDs - I have not dated your mom... yet...
Why because the dollar stretches more in a country your terrorist govt destroyed? Yet again America washes up on their shores, this time old and fat to continue with the exploitation. Carrying on tradition even in retirement. Hope one those kids blows your head clean off, you ought to add the one you think will kill you as your beneficiary just so he... or she will know they did the right thing.
Is there anything in the US that's not broken or corrupt?
Uhhhhhhhhhh...there are some cute little Amish shops that sell pies and candles sometimes?
Tom Hanks
Not when money is involved.
entrepreneurship.
it is objectively the easiest company in the world to start a successful business based on the many different factors and bureaucracies involved.
also, we're the best in the world at preserving and curating national public parks.
those were the only two things I could find.
+Jupiter Kansas Fn Hilarious! and also correct. ..
My sister is a fiduciary financial advisor for Chase, and her clients invite her to weddings, Christmas parties, once to their cabin in Colorado (we're in Texas)... you would be surprised how close the relationships get. She's a great person though, definitely cares about her clients.
Edit: I now realize that this sounds like she's having affairs, lol, but I mean they invite her AND her family to these places. She and my nephews stayed in Colorado at the place of an older couple who are clients of hers.
I bet she’s a delight! 😂
A real peach!
"Mauled by bobcat"
Maybe you shouldn't order chairs off of Ebay next time
I only just now got this joke
Just use Randall's coupon code
Retirement planning ....? Work in USA. Retire in Latin America.
alks091 or the Philippines
Karl Anthony Margate i have a girlfriend in phillipines😂 do you recommend living there
Exactly!
Unfortunately Latin America is also becoming expensive due to greedy politicians passing illegal corrupted real estate housing. In a few years, I recommend to retire in SE Asia rather than Latin America.
Retire to Ukraine or India, you fools
This guy is such a great speaker I think this is the first time I’ve ever heard him stumble on a word
0:35 man, Suze was so excited to hear the caller say "study abroad," and then you see her struggle to keep her smile as she realizes the poor woman is crazy....
You can clearly see her face when the caller mentioned the school. 😂😂😂
Her eyes scream “What did I say about screening out these people?!”
As a financial services professional, I can say that this is 100% true. Aggressive sales are heavily incentivized. Very few people do research on their investments. Most just take their brokers word. Don't hesitate to ask your broker how much they will make in commissions if you invested in a certain product. They are supposed to act as a fiduciary but the word doesn't mean much to the unethical assholes out there selling investment instruments. The insurance industry is a magnet for shady sales people because there is a lot of money to be made. Brokers prey on busy people or old folks who are likely to take their word and no do any research. Manage your own 401K. Review it every 3 months. Invest in index funds.
D N movies
Index funds are not hard to understand or invest it. The only other piece of the puzzle is making sure to match your types of investments to your age and goals. So as you’re nearing retirement age move money into less risky investments like bonds (that also pay lower returns than stocks). I have a BS in finance and an MS in accounting, and I guarantee you anyone could learn “the essentials” of how to invest for their retirement in a day (or with just one decent book on the topic). If the whole thing seems complicated to you then that’s only because their market has worked. Save early, save often, I vest in index funds, stay diversified and match the relative risk you’re taking to your age and goals. That’s 90% of it right there. Anyone with an IQ above 50 can figure out the administrative portion (forms to fill out, etc.).
@@dasaauto2024 As an adviser I agree. In a perfect world our industry would not exist because investors would be able to do it themselves. Unfortunately many people are to scared, disinterested or ignorant of basic finances.
Advisers have to bring more to the table than simply manage money, especially for clients under 50, where the best strategy is usually index funds/ETFs/mutual funds.
Dasa Auto thank you for the information. I am 22 and work for the state of CA. I have the option of a 401k or 457b plan. I believe the 457 is best because of my age and if I were to get a opportunity in the future I can withdraw my savings and pay the tax. I have also heard that index funds are my best bet although sometimes I feel eager to get aggressive with my potential investments
19:15
Oliver is a GREAT educator!
I have a BMI of 36 ... I don't need a retirement fund :)
Imma steal that joke
Here is the original version :) /watch?v=61DEMMzOrEc
Excellent video. We are all striving for financial freedom and a better way of life. It is not difficult to achieve this with wise investing, economical lifestyle, and careful budgeting. I'm pleased I learnt early on to work hard for financial independence.
In my opinion, making a smart investment is not only a technique for earning passive income, but also a profitable way of saving for future expenses. People who fail to make the proper judgments early in life often come to regret it later in life. Nonetheless, investing alone can be difficult and risky. As a result, I recommend obtaining expert assistance (financial advisors). The challenge is not just watching videos and reading investing books; it is about implementing information effectively.
As an OAP with extensive expertise, I am certain that the success of any investment is dependent on getting the appropriate knowledge, regardless of what others think. I made $100,000 while working with licensed financial adviser.
Based on my expertise as an OAP, I'm convinced that the key to successful investing lies in obtaining relevant knowledge, rather than following the crowd. My personal experience of earning $100,000 while working with a licensed financial adviser reinforces the value of informed investment choices.
Nice. People often underestimate financial advisors' importance. Over 50 years of data reveal that those who work with advisors typically earn more than those who go it alone. I've been fortunate to work with one for 13 years, resulting in a $1 million portfolio, largely from early investments in AI and other growth stocks..
I've been considering but haven't been proactive. Can you recommend your advisor? Could really use some assistance.
I love this. It's essentially John's revenge because a business tried to screw him over. Sweet, sweet revenge
I remember Janice from accounting! She was the one who drank all the hazelnut creamer from the break room fridge!
That bitch!
Your best bet for retirement planning is to work in an expensive country and retire in a cheap country.
My friend's parents worked in the US all their life, they were middle-low income families. They just retired, bought a house on the beach front in greece and are living veeeeeeeeeeeeeeery comfortably. My other friend's parents did the exact same thing, but with Turkey instead of Greece, and they bought a large villa with a farm.
muhu_88 I’ve heard of people who do this. They live reasonable lives. I think retiring in a country you have never been to and have to overcome a language barrier is better than living in poverty at an old age.
Does your friend have to worry about any economic crisis in Greece or are they safe? Money wise and physical safety wise.
Tempting and may work for some people - but for a lot of people this isn't really a good option since they would be unhappy being so far away from all their friends and family.
Another path is to forge your own country, which I have done and it was pretty amazing. Slipped the lines and sailed into the sunrise.
@@philp6754 What?
No, you didn't.
We did this so the hubby could retire earlier. Went to C.R. Left by 3 years. Statistics show that is about the time frame of how long most people last. Most countries also require you to prove a certain amount of permanent income.
I’m coming back to this video after a few years. Beginning to think of retirement planning. Thank you John for all you do.