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Bro, not to upset you, but in Europe that is a robbery. Here in Hungary, I pay roughly 6$ for a monthly student country-pass that enables me to use the entire public transport system of the country. But even the full price monthly pass would be only 40-50$:)
@@gezaradimeczky306 this is genuinely shocking I live in Canada and it’s 120$ monthly for a city restricted bus and train pass, how good is the infrastructure over there??
No he's implying that gas and car insurance for the morning commute comes to $4. To actually save that money you have to not own a car at all. Then you need a taxi to get to timely appointments, and you're out a lot more than you saved. Miss the dr. Appointment by one minute because of commute delays, and you'll miss a whole extra day off of work too. This guy is completely out of touch with 99% of america.
He does have a point. If you do this everyday it has big effect on monthly income. You will still be poor if you don't spent on daily fun but you will have like 30 percent more money every month
The guy is sharing legit financial advise. You can cut a lot of costs on daily spending that only marginally reduce the quality of living, like the expensive coffee, eating out vs cooking. The reason he takes stuff like this is because it's easy to think it's just 10$ or whatever more, but in the long run it ends up being a lot of money, that if invested in an index fund ends up being even more money.
Well, I'm sorry but the market decided that your job, even though it probably consists of at least 40 hours of hard work, isn't worth an actual, comfortable living wage. 😢 It doesn't matter if the economic value of your work is higher than that of many other jobs, it's just how the system works. 💁♂️ And in the end, why would you ever complain, don't you want to have the infinitessimaly small chance of everybody having to bend themselves to your wishes, your wealth?
What I hate most about videos like these, is they assume you do this every day, and not once every other week. Do some people do this? Yes, but they’re not watching videos like these.
Well, just for some perspective, my coworkers are all "that person who spends $15 DAILY on lunch", so there are absolutely people out there that do all this, then complain about how they can't afford to live.
How to talk a whole load of nothing. The video is targeted to those who make the financial decisions that are questionable at best even if they "ain't gonna see it." If you are reasonable with your money and doing said financial decisions in small enough doses then good job 👍🥳🥳🥳
Most people are probably “wasting” $100/week minimum. For instance that could be booking last minute flights instead of booking in advance or getting an apartment that’s a bit too expensive.
@@Mogardie and risk my travel plans falling through? No thank you. And no one is buying wrong apartments that are too expensive for them when they’re all too expensive.
Many thanks for the video. Everybody needs financial freedom. Let this be a thread for some more simple, Reproducible approach from anyone who have build wealth. I have saved up $190k to get started.
First thing i would say is; don't get discouraged just because you can "only" invest like $100 per month. It can compound to tremendous wealth over the course of decades. The important thing is that you keep going!
I sincerely believe people often underestimate financial advisors' importance too. 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 $2 million portfolio, largely from early investments in AI and other growth stocks.
i'm intrigued by this. I've searched for financial advisors online but it's kind of hard to get in touch with one. Okay if I ask you for a recommendation?
'Kristin Amber Lanids' has always been on the top of my list..She is regarded as a genius in her area and well knowledgeable about financial markets. I highly recommend you check her out if you want excellent collaboration
@@stuartd9741 not necessarily, you can buy coffee pods, which are not as cheap as brewing your own coffee from coffee beans, but still maintain the flavor profile of the coffee you know in love.
@@jaydeattsthen you must have a shitty life. Let’s put it another way: small expenses can add up. If you cook the day before, make double portions and problem fixed. Be conscious about expenses which occur daily like transport or your daily coffee. If you don’t want to be smart about these things, then fine. But don’t come complaining “housing is unaffordable”, “you need to make 120k per year to make ends meet” and bla bla
@@ozymandias8523 nah inflation would catch up, so they are going to be comfortable, but the issue is that rich kids tend to waste their parent's money we are seeing time and time again at a lot of wealthy kids are just throwing away their parents money and some parents are either sick of it or at least have one child in the family that they know they can trust to pass the business to
Weird, I do all those things…brew my own coffee, don’t own a car and take the bus and walk, nearly never eat outside…and still have no money left at the end of the month for investment … Could it be that there is more to wealth than this?? Maybe something like „having enough money in the first place“? I wonder…
At least with this guy he actually does have videos with legitimate advice. He's just saying that the more you can cut down your expenses, the more you can invest in yourself. Whether it be building an emergench fund, setting a managed refirement savings account that grows over time, or taking a risk with the stock market. This short comes across as preachy, but he has a valid point.
I guarantee $10k of my tax money goes to pensioners who do nothing but tell me I should stop spending money on things that make life not completely shit
my problem with financial advice today is its like: coffee: 4$ Lunch : 15$ Rent: 5,000$ Netflix : 20$ Student loans : 300,000$ Uber : 50$ Medicall bills: 875,000$ and then yall are just like "if they skipped coffee this morning they couldve saved 4$" like THATS the problem
Where are you at paying $5k in rent each month? I get what you mean but there’s no need to be hyperbolic. If you owe six figures in student loans, that was your mistake.
In 1972 when we were 19 & 20 years old, our rent for a delapidated bachelor's flat, with a shared bathroom and shared laundry required one entire salary. We also paid for our gas and electricity.
Another great tip from me. Live in a cardboard box, work 15 hours a day, water, bread, pasta and rice everyday until ur days end. Hmm, that sounds like a min wage employee
Remember kids, previous generations didn't have to make these sacrifices, but they cant accept the fact they've made the world demonstrably worse for everyone
It really isnt lol, it is maybe the difference doing okayish and being poor, but not between being a millionaire and being okayish. Also, saving up to 10k a year on coffee, a treat and netflix.. I am sorry, but that does not lead up to 10k, perhaps 2k if where being generous..
@@draco2378 he literally said you'd have over a million dollars. Now we can argue about what the exact definition is of being a millionaire, but it is kinda implied.
Reminds me of an old joke: "Ifvyou quit smoking now, in five years you'll be able to afford a Ferrari." "You smoke?" "Nope." "So where's your Ferrari?"
That is literally a completely reasonable thing to tell people though. Plenty of people spend $20+ on simply their food everyday that they go to work which nickel and dimes the absolute hell out of you. If you're ordering avocado toast consistently then you're literally burning money away.
@@chaotikkiller1617 but that's going to make them rich billionaires don't want to admit the only reason they are rich is from profiting from other ppls labor Elon musk for example he didn't start with nothing his dad own a diamond mine im south Africa that used basically slave labor then when Elon wanted to start a company his dad gave him 200,000 dollars to start there all liars
@@chaotikkiller1617 but that's not the real issue, The real issue is how wages haven't kept up with the cost of living and the literal overpricing of housing. The " Don't eat avocados and you'll be a billionaire" is just another phrase the boomers tell to delude themselves from the Economic challenges they created and blame it on younger generations
@@gen169 The real issue is that there are too many people who read what you're saying here and think similar to you and believe they have zero chance at gathering wealth ever. Saving money that you spend on luxuries and putting it towards a safe investment is a good way to set yourself up for a good retirement even if the amount you can put away is small. Too many people want to just give up and blame everything and everyone for their inability to even try.
I appreciate the effort put in to show cost effective alternatives and use the money saved in comparison, rather than just saying "don't drink coffee or eat out and you'll be a millionaire" this is much more practical advice.
And also because he thinks a ride even costs that little. Maybe if you have a monthly pass for public transport, but even that can cost more (see London), and it's a set price you can't have further savings on. Anything most people spend on "frivolously" is already an occasional thing and no one has ever become a millionaire by saving some snack money.
@@girlwhomustnotbenamed4139 fr thats what i hate about this stuff, sure its helped millionaires before they were millionaires, thats because they were broke and that little money helped back then, once you're rich that amount of money becomes negligible and you wont think twice about buying $10 snacks or spending $100+ on travel..
@@SwolcoqMost people don't have a million in the bank😂 I can't remember the exact statistics but it's something like 85% of UK adults surveyed had less than 1000£ of savings in the kitty
@@thatpeskyswanin America it's even worse. Most adults have fewer than $500. Learning to manage finances is important, but most people are struggling so much they don't have any meaningful finances to manage
Guys in his generation ruined our economy and could never understand what it is to be a 20-something in this day and age, why in the hell would we take advice from them when they put us in this position?
@@jamesbarbour8400 it’s not, but it is the fault of the government when he was the age of the people he’s speaking to. That’s what OC is referring to… also, it’s just really dishonest to pretend that he thinks this is a good solution when foregoing any bit of fun or comfort in life is something he’s never had to do because the relationship between a decent wage and being able to buy a house was actually manageable.
You should definitely take his advice regarding index funds. The point is do the best you can to get to where you can save money, and then that is the tool you should use for saving.
@asjbfjbkaw you dont have bus monthly/yearly passes? They are usually cheaper than buying a ticket every day if you really need to travel all the time and have no car.
@joaquincaceresguibovich3182 once got a cab to work from my home due to car tire issue - 17kms away. Cost - $50. No buses go that way (paid for BY work as I would never pay that much for a taxi). $2, $4, even $10 or $20 would be amazingly cheap.
I'd say thinking someone having 45% or more of income going into rent alone. Add in state and federal taxes at 10% or more. The remaining 30 to 40 percent going towards to water, electric, car insurance, car payments, gas, food, internet and cellphone because I have to be reachable at any time by email or phone not just in the office, various goverment fees, parking fees, and throw in medical bills if you are lucky to be able to pay it, and still having a quarter or more of your gross left over sounds pretty out of touch.
I'm a 24 year old and live in Malaysia. I don't spend on subscriptions or krispy kreame. I was on the edge of a deficit monthly (RM1000 allowance) trying to brew my own coffee and cook my own meals with groceries, not to mention equipment. My country's public transport lost me a lot of time for travel purposes such as work or classes, making my life miserable. After getting a budget car, eating out at budget places, and getting coffee from McD breakfast McSave, my monthly finances saved about 30 - 18%% afterward.
I began working at 18, strived and grew my portfolio to $600k by 33. Recently, lost over 30% and want to mitigate risks. Also, planning to buy a home soon and want my portfolio to grow to a 7-figure ball park i can retire in 9 years. What should I do?
IMO, Adding JEPI and JEPQ is smart for retirement. As for staying committed to low-risk investments, it's all about balancing your risk tolerance with your long-term goals.
Generally speaking, a good number of people discredit the effectiveness of a certified fiduciary in planning for retirement, For over the past 10years, I’ve had a CFA consistently restructure and diversify my portfolio/expenses and I’ve made over $3m in gains… might not be a lot but retirement doesn’t seem so farfetched anymore.
There are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with ‘’Jennifer Leigh Hickman” for about five years now, and her performance has been consistently impressive. She’s quite known in her field, look her up.
and then when I stop getting chocolate rolls and my lunch at the grocery store next to my workplace, I'll get blamed when they close. Nah mate I'm done taking advice from boomers 😂
@@Steltzer.Inflation has never been 8% every year. Average throughout history is more around 2-3%. Investing over time has always greatly outpaced inflation, hence why people have 401ks and people much richer and smarter than you keep stock
@@silentbovo1 not all countries have 2-3% inflation like USA...Hungary had +20% in the last...3-4 years, but I would say since covid hit. Only a 2-3 months ago were they capable of solving the inflation...
Most young people these days aren’t struggling financially because of over-indulgence; they’re struggling because their salary is barely enough to pay rent for a one bedroom studio apartment.
So you can either live in the world that exists, or live in the world that you dream about. I'm truly sympathetic, bur realistic. I would have loved to have been able to afford a 1 bedroom apartment in the West Village with a view and pool and free gym right out of college, but there is a little thing called reality. So sure, it would be nice, and maybe with your generation's tik tok complaining it will all come about, but I doubt it. In the meantime, the world isn't waiting for you it is moving ahead - each and every day and each and every second. And all those millennials that I hired years ago are now 40 at least. They too had dreams and now they are middle age. It will happen to you, so either you plan and execute, or complain and fiddle. Grasshopper or Ant. The world is not going to conform to you, so you better get ready and live in the world that exists. Good Luck. I know it isn't fair, but then .....
It surprises me how many people on average income are buying coffees lunches and snacks which add up to a lot over a year when they could just plan better or spend more sensibly
Out of curiosity, what country are you from? In Australia for example, you can’t find a coffee for under $5 unless it’s a service station. I thought all western countries were at this shitty point where everything is ridiculous…perhaps I need to move to where you are 😁
@@ohjesswhatamess if you live in Australia rn, try visit Bali, malaysia, japan and korea. You can enjoy specialty coffee (arabica G1 with SCA cupping score >8.00 excellent) way cheaper and better than Starbucks. And yes, I'm talking about drinking coffee. not drinking cream
@@EnderViBrittania i make 85k a year, and have a pretty substantial amount of money in my savings account, Roth IRA and various investments. and I'm telling you, The economy is in the toilet, and nothing short of overthrowing the government is going to save us. I'm not making excuses,, you're ignorant to how far beyond saving this country is.
or maybe understand what they are saying their advice might 'NOT' be useful in every stage of your life but their advices are more specific which goes excellent with special situations, and you need to find it. think about it, the much you've lived, didn't you ever thought you had multiple choices and decisions? and some of them are useless? and that's where you realise what you should've chosen. But this situation doesn't happens to everyones life, everytime old is gold in the way they are treated
@@supreme5998 I see you're lacking education on this matter so let me teach you. Most people have these things called friends and relationships. Friends like to do things, together. Things that make it worth waking up every day. These things usually involve going to cafes and restaurants together, and watch movies together. Existing as a frugal hermit is incredibly cost effective, but we only have one life and I think if I had to live as a frugal hermit, I'd sooner commit die.
@@327legomanthere’s a balance, buying food once a week to hang out with your friends which you will remember more fondly is a lot better bang for your buck than spending money on lunch everyday.
@@chichichiyomi__ Starbucks in the video is a specific placeholder. It doesn't take a genius to work out that said placeholder is taken up by a variety of different social events similar in nature in different people's lives. The nearest Starbucks for me is literally a 2 hour drive away. Everyone can live without Starbucks. Most people go insane when forced into solitary confinement.
The biggest wealth killer is the loss of buying power worldwide due to inflation pops. It's really easy to make money when you bought a house for half a year's salary while nowadays you can't afford to live on rent with a single salary
Yeah. That’s the point of investing. People invest to combat inflation. If inflation is 5% and your money grows at 8%, you’ve hedged against inflation.
The biggest wealth killer is wasted spending on wants. When did people buy a house for half their salary? No - you can afford to rent on a single salary
@@jsebby2284bullshit.You save 10k a year now what? After 30 years when you are 60 or 70 MAYBE you can get another house.Congrats bro you never sPENT any money your whooe life and went for work - home and yoi have another house at70 .
And then once I have the million dollars, I’d be able to buy Starbucks, eat a nice lunch, watch Netflix, and not have to take public transport. Can’t wait!
"I don't need million dollars, because all I would do with a million is the same as I'm doing right now." basically where i agree that you don't need a lot of money to lead a life, you are just showing that you have nothing else to do with your life and just couldn't handle that amount of money, or just have no big interest in doing exciting things, like travelling the world also this is just meant to show how easy it is to get rich
Yep! And you are definitely guaranteed to live that long. So don’t spend anything on yourself today. Put it all into a money machine that the speaker is also invested into so we can all make more money! Now is a great time to invest since the economy is booming.
You’d think they don’t but go to any shopping mall and they are all packed. So even if the companies are underpaying people need to put their spending in check.
@tobiasthederp That is cope. First: You get paid according to your skills and your work quality. Improve and make yourself more valuable, and get paid more. Second: You are complaining and making excuses, as an attempt to avoid responsibility of not wasting money ad the video explains. In both points, you fail to take responsibility for your own situation, which is the main problem with all the whiners like you in the comments.
@@EnderViBrittaniajust cuz you make kaffefee dose that mean you cant make money to live of? Yes somone can do The job cheeper sure and its brain dead work but again why shoud you not be able to make a living
If you stop buying toilet paper and just go around with a dirty ass, you could save up to $5000 a year, and with an 18% annual return in an index fund you could be a millionaire by the time your friends and family abandon you because you smell like festering shit!
I broke down all my old bad habits and couldn’t believe it equared to a 32k salary per year. No wonder I was living paycheque to paycheque. Cutting it all out I've seen great success and freed myself. Stay Uncommon!
30 years from now: $300,000 cup of coffee; $500,000 lunch; $200,000 uber; $150,000 donut. Oh and Oops the market just crashed and all your money is gone.
Wtf, he said make your own food at home and consider public transit. He never said don’t eat and walk to work 😂 No, nvm, you should just give up. I’m sure everything will turn out fine 👍🏽
@@GabrielBacon there's a big difference between being money-conscious (knowing how much more you can afford to spend to have some leftover for investing) and not spending anything at all on things that can not only make you more productive but also happier overall. And just for your information, I do investments too as he suggested, and actually wouldn't be surprised if you were poorer than me, based on your lower-class obnoxious behavior on social media.
Damn it's so easy to be rich you just have to find a 8% low risk compound interest why did nobody think about that ! This short really enlightened me !
Don’t be extreme. Cut some unnecessary spendings doesn’t mean you can’t enjoy yourself. For example if you were planning to go to holiday on first class and live in a large popular five star hotel, you could instead fly economy and live in a smaller four star hotel. This doesn’t mean you can’t go to your holiday, it’s just cutting some spendings without really compromising too much.
@@M.e.h..$1M isn’t financially free… What do you think that $1M is going to be worth 30 years from now. Close to $250,000 today at the rate of inflation. That’s beans.
I feel that the last bull run was bolstered by all the money being printed. Major returns next bull run but I think they will be tamer in my humble opinion. A 10x on Abel Dorsey and a 15x on polygon are fair considering how much those two coins are interwov
Yes and kinda no. Your right about all the printing and government spending boosting the market better than I might ever will (within our lifetime) but there is still opportunities, just gotta look a little harder.
8% interest on yearly basis is usually based on high risk high reward formula, which means that in order to get 1M+ in 30 years as you mentionned, you'd also need 30 consecutive years without any hassle or trouble, which is possible but unlikely.
@@jsebby2284 Save more? Absolute genius. Save more while restricting yourself and living frugally and then end up as a really miserable person when you're old because you wasted your life? But at least you now have a nice house! ..And zero friends.
@Septembermoodddd you would think it's common sense but in today's day and age yeah it is pretty genius. Thanks man. Why would you be miserable? How did you waste your life? Why would you just be getting a nice house? And why would you have zero friends? Dude do whatever you want with your money. You just don't get to complain when you have nothing saved for retirement then. My statement of "save more" was just a simple repsonse to the guys idiotic comment. It's really not that deep
The big financial problems people face are huge houses and expensive cars they can't afford, those things make you poor, not a latte or a 2 dollars sweet treat.
latte or sweet treats are those types of expenses which everyone ignores, not those types of expenses which can't empty your bank account and this guy also told us about that his advice might not be fully acceptable but you can't ignore that too and ofc drinking latte or something is the way you enjoy your life so that advice wasn't for those who don't want to touch greater reaches (tips ain't always fact, so doing or not doing might or might not effect your life, you can still reach them. but to be honest sometimes normal life is better than being rich for me)
Exactly! The cost of living has vastly outpaced wages. It's all well and good telling people to spend less money but what about the expenses he's not mentioning ridiculously expensive rent and essentials. That's what truly screws people.
Are you guys refuting his $10,000 a year quote here? The math adds up. A lot of you jokers are spending even more than that yearly on frivolous things. What he said and what you’re saying don’t have anything to do with each other
I don’t use public transportation whenever I go to a new city for a few days for work, no need to burden myself learning their routes and schedules if I’m going to leave soon, so I usually uber everywhere. I was in NYC for two days, was paying just under $30 to go like 3 miles in Manhattan lol
We have almost as big a "basic fee" for taxis in my country before it even starts. That, and no one uses a taxi every day to go to work that they could swap out with public transport. Most people already have a monthly/yearly pass and take a taxi when they need to. No one will ever become a millionaire, not even in 30 years by putting that amount of money aside. Plus what safe investment ever actually has an average 8% yield? Any time they promised sg like that, it never materialised. Plus it means you won't have any other savings for 30 years and you will inevitably need funds for things in the meantime because, you know, that's your entire life.
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And then our faces will start looking like yours.
$4 on any transport sounds like a steal.
What about 5$ for coffee?
Metro tickets during paris olympic games will be 10€... And i bet it wont decrease after the games
Bro, not to upset you, but in Europe that is a robbery. Here in Hungary, I pay roughly 6$ for a monthly student country-pass that enables me to use the entire public transport system of the country. But even the full price monthly pass would be only 40-50$:)
@@gezaradimeczky306 this is genuinely shocking I live in Canada and it’s 120$ monthly for a city restricted bus and train pass, how good is the infrastructure over there??
Yeah mate where I'm at right now in the UK all the buses are £2 one way.
Just remember to treat yourself from time to time. Dont be too strict
Like cheating on everyone & everything!!
@@worldsfinestnegativemind9108 or worse. Sugar donut!
My great grandfather father tell my grandmother this, she taught me this.
Always pay yourself first.
yeah like once in a couple months, but most people are too weak to go without some trash food for a week 😂
Yeah the issue he's talking about are people who say "just one coffee a day isn't the difference between me being broke or not"
Bought AMS77H at 1$, I will keep it until 2025 when it reach 250$
I am sure that AMS77H will go 100x just like you said
$4 for a taxi? You riding in a tuk-tuk?
$40 minimum.
As an Indian how do you even know about tuk tuk?😭😭🙌🏻🙌🏻
No he's implying that gas and car insurance for the morning commute comes to $4. To actually save that money you have to not own a car at all.
Then you need a taxi to get to timely appointments, and you're out a lot more than you saved.
Miss the dr. Appointment by one minute because of commute delays, and you'll miss a whole extra day off of work too. This guy is completely out of touch with 99% of america.
@@aryanandwho-ps2ghBeen to India a few times & have plenty of Indian friends. Been in a few late night tuk tuks myself, very scary😅
@@koboldsage9112Aha, in that case $4 is a bargain
Another Tip from me:
Don't build a house. Live on the street. You will save on taxes, gas bills, electricity, and maintenance.
😂
Definitely don’t build or buy one. Rent.
Not with the cost of rent these days
Thanks. I was able to afford more crack using your tips
@@missheepious 😍
Why everyone is talking about AMS77H?
Well, when a bot and a scam love each other very very much…
The living embodiment of "you're poor because of Netflix and Starbucks". I'd never thought I'd see one for real.
He does have a point. If you do this everyday it has big effect on monthly income. You will still be poor if you don't spent on daily fun but you will have like 30 percent more money every month
You can save a part of your income by not doing those things daily.
I mean you can just pirate it
Poorer than you would be if you spent less and saved more.
The guy is sharing legit financial advise. You can cut a lot of costs on daily spending that only marginally reduce the quality of living, like the expensive coffee, eating out vs cooking. The reason he takes stuff like this is because it's easy to think it's just 10$ or whatever more, but in the long run it ends up being a lot of money, that if invested in an index fund ends up being even more money.
This man touched a donut with his bare hands and put it back on the shelf. Society is crumbling.
lmfao underrated comment
I was looking for this. Can't believe he did that.
Disgusting
He probably bought it lmao, at least I hope so
I had to rewind it cause I thought no way. Hope he bought it
“I understand homes are unaffordable but $180 a year for Netflix is out of line.”
Piracy is free
Cope
@@tsunami3834this
Imagine people outside the US where it's 180 x 4.4 per year.
It might be the case that housing is too expensive = but that's not what he said or is addressing. He is saying you could save lots of money
An index found that consistently makes you 8% interest PER YEAR would be insane.
Was looking for this comment. Bro in this video is just throwing out random unrealistic numbers.
@@sergiomartinez5946 Same here.
How is nobody else commenting on this, he just glossed over it entirely. Who the fuck is getting 8% year on year that's insane returns
@@Rory626and that's for 30 years..
Just be smart and invest everything in Nvidia or Bitcoin 20y back, stoopid :D
I don't buy coffee on the way to work, I cook at home, I don't eat snacks. I don't pay for public transportation. Where are my 10k?
That’s what you should ask yourself. Do you even budget? If you did, then you would know where all your money went
Used up on other things.
Actually make a note and keep it on such savings if you actually want to be saving them.
why are you NOT born to rich parent !!
Well, I'm sorry but the market decided that your job, even though it probably consists of at least 40 hours of hard work, isn't worth an actual, comfortable living wage. 😢
It doesn't matter if the economic value of your work is higher than that of many other jobs, it's just how the system works. 💁♂️
And in the end, why would you ever complain, don't you want to have the infinitessimaly small chance of everybody having to bend themselves to your wishes, your wealth?
I think you should do what you enjoy in life
What I hate most about videos like these, is they assume you do this every day, and not once every other week. Do some people do this? Yes, but they’re not watching videos like these.
Well, just for some perspective, my coworkers are all "that person who spends $15 DAILY on lunch", so there are absolutely people out there that do all this, then complain about how they can't afford to live.
most people spend MORE than this guys says
How to talk a whole load of nothing. The video is targeted to those who make the financial decisions that are questionable at best even if they "ain't gonna see it." If you are reasonable with your money and doing said financial decisions in small enough doses then good job 👍🥳🥳🥳
Most people are probably “wasting” $100/week minimum. For instance that could be booking last minute flights instead of booking in advance or getting an apartment that’s a bit too expensive.
@@Mogardie and risk my travel plans falling through? No thank you.
And no one is buying wrong apartments that are too expensive for them when they’re all too expensive.
Many thanks for the video. Everybody needs financial freedom. Let this be a thread for some more simple, Reproducible approach from anyone who have build wealth. I have saved up $190k to get started.
First thing i would say is; don't get discouraged just because you can "only" invest like $100 per month. It can compound to tremendous wealth over the course of decades. The important thing is that you keep going!
Compounding effect is the best. it took me 8 years to grow my retirement fund from $0 to $100k, yet only 4 years from $100k to $200k.
I sincerely believe people often underestimate financial advisors' importance too. 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 $2 million portfolio, largely from early investments in AI and other growth stocks.
i'm intrigued by this. I've searched for financial advisors online but it's kind of hard to get in touch with one. Okay if I ask you for a recommendation?
'Kristin Amber Lanids' has always been on the top of my list..She is regarded as a genius in her area and well knowledgeable about financial markets. I highly recommend you check her out if you want excellent collaboration
rich people always think money is so much easier than it really is
The problem is I don't want to spend 30 years hating my life.
Making your own coffee/sandwiches is going to make you hate your life?
@@edzilla134
Starbucks tastes better.
I can make my own tasty sandwiches.
@@stuartd9741 not necessarily, you can buy coffee pods, which are not as cheap as brewing your own coffee from coffee beans, but still maintain the flavor profile of the coffee you know in love.
@@edzilla134 yes
@@jaydeattsthen you must have a shitty life. Let’s put it another way: small expenses can add up. If you cook the day before, make double portions and problem fixed. Be conscious about expenses which occur daily like transport or your daily coffee. If you don’t want to be smart about these things, then fine. But don’t come complaining “housing is unaffordable”, “you need to make 120k per year to make ends meet” and bla bla
In 100 years I’m going to have £215,000,000 thanks mark
Your rich grandchildren will be happy
@@ozymandias8523 nah inflation would catch up, so they are going to be comfortable, but the issue is that rich kids tend to waste their parent's money
we are seeing time and time again at a lot of wealthy kids are just throwing away their parents money and some parents are either sick of it or at least have one child in the family that they know they can trust to pass the business to
Exactly that@@ozymandias8523
Imagine in 300 years 🤩
Inflation 😯
Weird, I do all those things…brew my own coffee, don’t own a car and take the bus and walk, nearly never eat outside…and still have no money left at the end of the month for investment … Could it be that there is more to wealth than this?? Maybe something like „having enough money in the first place“? I wonder…
It's called Bidenomics!🤮
Gramps never booked a uber drive in his life
all these rich old geezers telling us to live frugally and miserably while they keep taking home million dollar bonuses for doing nothing.
At least with this guy he actually does have videos with legitimate advice. He's just saying that the more you can cut down your expenses, the more you can invest in yourself. Whether it be building an emergench fund, setting a managed refirement savings account that grows over time, or taking a risk with the stock market.
This short comes across as preachy, but he has a valid point.
@@deadturret4049yeah with 20 dollars extra sure
Going out to get a sandwich for me is just as enjoyable as getting one from the supermarket. It costs 3x less.
I don't think he's telling you what to do. It's just good advice you can take or leave.
I have a seven-figure job, but it took me 35 years of hard work to get there.
When inflation is at 8% currently, your savings is basically nullified.
Well its not always going to be like this.
Both UK and US inflation is around 3.3% rn, where are you getting 8% from?
Thank you!
Until you find out about how compounding abd equity gains work 😅
Have you checked the average or compounding inflation of your country over the past 30 years before making that statement
$4.50 on a simple homemade lunch sounds like a scam while $4 for transport sounds like a steal 😂
I guarantee $10k of my tax money goes to pensioners who do nothing but tell me I should stop spending money on things that make life not completely shit
my problem with financial advice today is its like:
coffee: 4$
Lunch : 15$
Rent: 5,000$
Netflix : 20$
Student loans : 300,000$
Uber : 50$
Medicall bills: 875,000$
and then yall are just like "if they skipped coffee this morning they couldve saved 4$" like THATS the problem
Where are you at paying $5k in rent each month? I get what you mean but there’s no need to be hyperbolic. If you owe six figures in student loans, that was your mistake.
well you have to multiply cofee, lunch, uber 30 times to get montly price.
In my country our rent is 50$
@@CybermanKing check Canada
@@tawsifking9336 wtfya, siberia?? 💀😭
Your boomer landlord who is charging you half of your salary in rent for a house he bought in 1972 for the price of a pack of cigarettes:
It should be forbidden to charge more than what the house costs
In 1972 when we were 19 & 20 years old, our rent for a delapidated bachelor's flat, with a shared bathroom and shared laundry required one entire salary. We also paid for our gas and electricity.
Another great tip from me. Live in a cardboard box, work 15 hours a day, water, bread, pasta and rice everyday until ur days end. Hmm, that sounds like a min wage employee
Tell to those people "well where's your million since you don't get coffee"
Remember kids, previous generations didn't have to make these sacrifices, but they cant accept the fact they've made the world demonstrably worse for everyone
Previous generations famously frittered away pocket money on $5 coffees and Ubers
@@4thGradeReadingLevel They spent more of their income on leisure than the current one does because less was required to meet their basic needs.
Can't remember something you just made up
@jsebby2284 Empirical evidence exists and Google is free
@@rayodios5826 your comment should be directed at yourself lol
Trust me, this isn't the reason you're not a millionaire...
Yes it is trust me on that
It really isnt lol, it is maybe the difference doing okayish and being poor, but not between being a millionaire and being okayish. Also, saving up to 10k a year on coffee, a treat and netflix.. I am sorry, but that does not lead up to 10k, perhaps 2k if where being generous..
I mean this guy doesnt speaker yapanesse if u would live strict u could earn big money. But the 8% every year wont make milion dolar lol
He never said anything about being a millionaire by doing this
@@draco2378 he literally said you'd have over a million dollars. Now we can argue about what the exact definition is of being a millionaire, but it is kinda implied.
$1M probably will be nothing after 30 years unfortunately
8%!?!?!!?!? Point the way, ill go and invest right now.
S&P500 dummy
Reminds me of an old joke:
"Ifvyou quit smoking now, in five years you'll be able to afford a Ferrari."
"You smoke?"
"Nope."
"So where's your Ferrari?"
"My Ferrari is right here!"
"Wow, you bought that with the money you saved from not smoking?!"
"No, I'm an investment banker"
🙃
Well the thing is you cant resist nice things after sacrificing something nice
You are making fun of my little scale Ferrari?
This gives off “just stop eating avocado toast and you’ll be a billionaire” vibes
That is literally a completely reasonable thing to tell people though. Plenty of people spend $20+ on simply their food everyday that they go to work which nickel and dimes the absolute hell out of you. If you're ordering avocado toast consistently then you're literally burning money away.
it is not blanket statement for everyone. If you are ambitious with high earning potential, investing in your time is better.
@@chaotikkiller1617 but that's going to make them rich billionaires don't want to admit the only reason they are rich is from profiting from other ppls labor Elon musk for example he didn't start with nothing his dad own a diamond mine im south Africa that used basically slave labor then when Elon wanted to start a company his dad gave him 200,000 dollars to start there all liars
@@chaotikkiller1617 but that's not the real issue, The real issue is how wages haven't kept up with the cost of living and the literal overpricing of housing. The " Don't eat avocados and you'll be a billionaire" is just another phrase the boomers tell to delude themselves from the Economic challenges they created and blame it on younger generations
@@gen169 The real issue is that there are too many people who read what you're saying here and think similar to you and believe they have zero chance at gathering wealth ever. Saving money that you spend on luxuries and putting it towards a safe investment is a good way to set yourself up for a good retirement even if the amount you can put away is small. Too many people want to just give up and blame everything and everyone for their inability to even try.
I appreciate the effort put in to show cost effective alternatives and use the money saved in comparison, rather than just saying "don't drink coffee or eat out and you'll be a millionaire" this is much more practical advice.
Didn't mention their cocaine and antidepressant prescription fee
you know he's a boomer when he thinks $4 for transport is expensive
And also because he thinks a ride even costs that little. Maybe if you have a monthly pass for public transport, but even that can cost more (see London), and it's a set price you can't have further savings on. Anything most people spend on "frivolously" is already an occasional thing and no one has ever become a millionaire by saving some snack money.
@@girlwhomustnotbenamed4139 fr thats what i hate about this stuff, sure its helped millionaires before they were millionaires, thats because they were broke and that little money helped back then, once you're rich that amount of money becomes negligible and you wont think twice about buying $10 snacks or spending $100+ on travel..
This generation doesn’t know how to save money! I managed to buy a house in the 60s for only $16.56 and a paperclip!
Stopped eating, saved up enough for a coffin.
@wenterinfaer1656 to be fair, most people eat significantly more food than they actually need to
😂
Same I saved up 300$ in 1956 and living in my own home now
You got me in a first half not gonna lie 😂
If you're spending $20 a day on lunch and a coffee then I would imagine you're fully aware of why you're broke
This guy lives a different life.
You can put coffee grind in your mouth and pour down hot water to save money on the coffee cup as well.
U ain't right for this one 😂😂😂
😂😂😂😂
Savage !!
Or steal it. Boom completely free!
Best comment I have ever read, thank you
In 30 years that won't buy a house
It’s not meant to 😂 you live off the interest generated - 8% (average) on 1mil is 80k my dude.. plus the pension you receive.. you’re laughing
@@Swolcoq
That's also 80k post inflation.
@@SwolcoqMost people don't have a million in the bank😂 I can't remember the exact statistics but it's something like 85% of UK adults surveyed had less than 1000£ of savings in the kitty
Enough for down payment in 10 years.
@@thatpeskyswanin America it's even worse. Most adults have fewer than $500. Learning to manage finances is important, but most people are struggling so much they don't have any meaningful finances to manage
You are quite possibly the only person to actually help people
I save half my entire salary living at home like a bum instead of renting.
Guys in his generation ruined our economy and could never understand what it is to be a 20-something in this day and age, why in the hell would we take advice from them when they put us in this position?
Literally. Like he’s ever HAD to do this just to get some savings together
It is Government and financial institutions who call the shots where the economy is concerned - how is that the fault of this guy ! ?
@@jamesbarbour8400 it’s not, but it is the fault of the government when he was the age of the people he’s speaking to. That’s what OC is referring to… also, it’s just really dishonest to pretend that he thinks this is a good solution when foregoing any bit of fun or comfort in life is something he’s never had to do because the relationship between a decent wage and being able to buy a house was actually manageable.
You should definitely take his advice regarding index funds. The point is do the best you can to get to where you can save money, and then that is the tool you should use for saving.
They're not to blame. Life was easier in his time, because the governments were in a developing mind. Now they're in a destroying mode.
4 dollars for “overpriced transport”? Could this man possibly be any more out of touch lmao
"It's a banana Michael, how much could it cost?"
i wish even the BUS could cost £4 now but its more like double that lol
@@asjbfjbkawyou bastards are lucky still. in the US we spend so much fucking money on gas it makes 12 pounds per bus ride look like a steal
@@MrDublemAt least $10
@asjbfjbkaw you dont have bus monthly/yearly passes? They are usually cheaper than buying a ticket every day if you really need to travel all the time and have no car.
Cutting back on unnecessary expenses is literally the first thing that everyone always brings up.
i shouldve started this 10 years before i was born 😂😭
$4 on transport? This guy's never booked an Uber or Lyft in his LIFE
He's a boomer after all
@@hahafiyd7595 is that why he cries about 'women want to be cared for' I'm good videos 😬
$4 on overpriced transport was right in the 80s
Bro here 4$ is overpriced. I pay around 2$ for 20 km of travel distance
@joaquincaceresguibovich3182 once got a cab to work from my home due to car tire issue - 17kms away. Cost - $50. No buses go that way (paid for BY work as I would never pay that much for a taxi). $2, $4, even $10 or $20 would be amazingly cheap.
How out of touch are you?
Grampa:
how is him giving tips on how to save money make him out of touch? All of this is true
Nothing he said is out of touch
I'd say thinking someone having 45% or more of income going into rent alone. Add in state and federal taxes at 10% or more. The remaining 30 to 40 percent going towards to water, electric, car insurance, car payments, gas, food, internet and cellphone because I have to be reachable at any time by email or phone not just in the office, various goverment fees, parking fees, and throw in medical bills if you are lucky to be able to pay it,
and still having a quarter or more of your gross left over sounds pretty out of touch.
Were you looking in the mirror when you typed that?
The guy is making a spot on observation about the modern world, except the transportation is low.
Better plan:
Transportation: Walk 0$
Dont drink coffee 0$
Live in a box Rent is 0$
Beg for food 0$
Free life
Why i am thr only one hear someone whispering in my ear " YOU'RE BROKE, YOU'RE FU*KING POOR" 😅😂
You're right, If my Uber only costs four dollars I can probably just walk
Here in Australia, Uber is $10 to go 5km.
I'm a 24 year old and live in Malaysia. I don't spend on subscriptions or krispy kreame. I was on the edge of a deficit monthly (RM1000 allowance) trying to brew my own coffee and cook my own meals with groceries, not to mention equipment. My country's public transport lost me a lot of time for travel purposes such as work or classes, making my life miserable.
After getting a budget car, eating out at budget places, and getting coffee from McD breakfast McSave, my monthly finances saved about 30 - 18%% afterward.
This is targeted more towards westerners.
SE Asia is a complete different set up. Usually cheaper, easier to buy a $1.50 meal out and rider a moped.
Even in the west there's more nuance to this advice.
ajar saya
I spent 3 weeks in Malaysia loved it
There's Krispy cream in Malaysia?
Boy the BUS one way costs $4
My last year of HS (2023), I survived on a budget of $7/ day.
$2 for gas, $5 for food.
I began working at 18, strived and grew my portfolio to $600k by 33. Recently, lost over 30% and want to mitigate risks. Also, planning to buy a home soon and want my portfolio to grow to a 7-figure ball park i can retire in 9 years. What should I do?
IMO, Adding JEPI and JEPQ is smart for retirement. As for staying committed to low-risk investments, it's all about balancing your risk tolerance with your long-term goals.
Generally speaking, a good number of people discredit the effectiveness of a certified fiduciary in planning for retirement, For over the past 10years, I’ve had a CFA consistently restructure and diversify my portfolio/expenses and I’ve made over $3m in gains… might not be a lot but retirement doesn’t seem so farfetched anymore.
Your CFA must be really good. How I can get in touch? My retirement portfolio's decline is a concern, and I could use some guidance.
There are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with ‘’Jennifer Leigh Hickman” for about five years now, and her performance has been consistently impressive. She’s quite known in her field, look her up.
Wow, her track record looks really good from what I found online. I'll take a chance and see how it goes. Thanks for the info
Lmao, like that will save us from 15% yearly inflation and skyrocketing house prices and cost of living.
Yep. That million in 30 years will get you a snickers bar and a couple rolls of toilet paper.
and then when I stop getting chocolate rolls and my lunch at the grocery store next to my workplace, I'll get blamed when they close. Nah mate I'm done taking advice from boomers 😂
Yeah thats the same thing I had in mind...8% interest okay, but what about inflation?
@@Steltzer.Inflation has never been 8% every year. Average throughout history is more around 2-3%. Investing over time has always greatly outpaced inflation, hence why people have 401ks and people much richer and smarter than you keep stock
@@silentbovo1 not all countries have 2-3% inflation like USA...Hungary had +20% in the last...3-4 years, but I would say since covid hit. Only a 2-3 months ago were they capable of solving the inflation...
I rather spend my life living and enjoying the small things than to possibly wait on a 1 million dollar return in 30 years. Just get a decent job.
I have found that driving an old car with no car payment is the best way to save money. The little things do add up but, the big things really add up.
Rich people spending more then ur income on random bullshit but tell you not to buy a coffee on the way to work 🤣
Most young people these days aren’t struggling financially because of over-indulgence; they’re struggling because their salary is barely enough to pay rent for a one bedroom studio apartment.
This!!!
Skill issue
Get a roommate. That's what we did in the 80s and 90s.
@@scott5966 That’s generally a pretty good idea, but an apartment designed for one person should be affordable by one person.
So you can either live in the world that exists, or live in the world that you dream about. I'm truly sympathetic, bur realistic. I would have loved to have been able to afford a 1 bedroom apartment in the West Village with a view and pool and free gym right out of college, but there is a little thing called reality. So sure, it would be nice, and maybe with your generation's tik tok complaining it will all come about, but I doubt it. In the meantime, the world isn't waiting for you it is moving ahead - each and every day and each and every second. And all those millennials that I hired years ago are now 40 at least. They too had dreams and now they are middle age. It will happen to you, so either you plan and execute, or complain and fiddle. Grasshopper or Ant. The world is not going to conform to you, so you better get ready and live in the world that exists. Good Luck. I know it isn't fair, but then .....
the compound interest is gonna be INSANE with this one
It surprises me how many people on average income are buying coffees lunches and snacks which add up to a lot over a year when they could just plan better or spend more sensibly
Why is multimillionaire telling me to use public transportation? Something about that shot pissed me off
To save money
@@user-zf4kv9ou2ihe's old and out of touch
@@user-zf4kv9ou2i "Bill Gates here telling you to live in a box under a bridge, to avoid paying rent so you can save money!"
Helpful, helpful stuff
A lot of Wall Street executives use public transportation to save time and money
@@lavenlaven84proof?
i dont drink coffee, walk everywhere, dont buy any lunch or "treats" and am still broke... thanks for this important information
Lol 👍🏻
Do you have a job?
@@silverltc2729Why have a job when the government just gives you money to be poor?
Go get a better job and live on less than you make 🤡 wow problem solved.
What are your expenses? Give me a number to every expense
Putting donuts back bare handed you sick guy
He really just put the donut back😂😂😂😂
if you spend $5 on your morning coffee, you're at the wrong coffee shop
Out of curiosity, what country are you from? In Australia for example, you can’t find a coffee for under $5 unless it’s a service station. I thought all western countries were at this shitty point where everything is ridiculous…perhaps I need to move to where you are 😁
@@ohjesswhatamessitaly, salaries are waaaaay lower, but if you see a coffee for more than 2€ you leave the shop
@@ohjesswhatamess if you live in Australia rn, try visit Bali, malaysia, japan and korea. You can enjoy specialty coffee (arabica G1 with SCA cupping score >8.00 excellent) way cheaper and better than Starbucks. And yes, I'm talking about drinking coffee. not drinking cream
@@fillemooon9164 I had 5$ coffee in Rome, the cup was so small, and it was just half of that cup
@@geografiainfinituluiRome is full of tourist traps leaching off gullible Americans
And in 30 years a million dollars will be worth about as much as $10,000 today.
$10000 better than nothing
Keep making excuses
That’s why investments exist. Put it in the S&P and you’ll easily offset inflation plus generate income
@@counterleoabsolute BS. S&P always follows the inflation, it’s good to save but it won’t ever make you any money.
@@EnderViBrittania i make 85k a year, and have a pretty substantial amount of money in my savings account, Roth IRA and various investments. and I'm telling you, The economy is in the toilet, and nothing short of overthrowing the government is going to save us. I'm not making excuses,, you're ignorant to how far beyond saving this country is.
finally a real example, not only by words that save money but also where u can literally invest that money
i’ve recently read millionaire fastlane. this video is a perfect example of a slowlane road to wealth.
DONT LISTEN TO OLD RICH PEOPLE
You’re right. Listen to the broke people you grew up with. They’re really going to launch you into success!
womp womp
or maybe
understand what they are saying
their advice might 'NOT' be useful in every stage of your life
but their advices are more specific which goes excellent with special situations, and you need to find it.
think about it, the much you've lived, didn't you ever thought you had multiple choices and decisions?
and some of them are useless?
and that's where you realise what you should've chosen.
But this situation doesn't happens to everyones life, everytime
old is gold in the way they are treated
Yeah, don’t listen to the people with the most experience
Maybe listen to u, are u smarter?
Or do u have more money?
How to lose the will to live speedrun
You can’t live without Starbucks and Netflix? Damn.. you might not make it.
@@supreme5998 I see you're lacking education on this matter so let me teach you. Most people have these things called friends and relationships. Friends like to do things, together. Things that make it worth waking up every day. These things usually involve going to cafes and restaurants together, and watch movies together. Existing as a frugal hermit is incredibly cost effective, but we only have one life and I think if I had to live as a frugal hermit, I'd sooner commit die.
@@327legoman you act like skipping out on starbucks will literally ruin your life
@@327legomanthere’s a balance, buying food once a week to hang out with your friends which you will remember more fondly is a lot better bang for your buck than spending money on lunch everyday.
@@chichichiyomi__ Starbucks in the video is a specific placeholder. It doesn't take a genius to work out that said placeholder is taken up by a variety of different social events similar in nature in different people's lives. The nearest Starbucks for me is literally a 2 hour drive away. Everyone can live without Starbucks. Most people go insane when forced into solitary confinement.
After 30 Year's , But still investing and savings is must
Wtf is the point of working if I can't even splurge on a fckn morning coffee. What the hell am I even doing at that point
The biggest wealth killer is the loss of buying power worldwide due to inflation pops.
It's really easy to make money when you bought a house for half a year's salary while nowadays you can't afford to live on rent with a single salary
You forgot the part where you rent that house to younger generations making impossible for them to buy and giving “advices” to save in coffee.
Yeah. That’s the point of investing. People invest to combat inflation. If inflation is 5% and your money grows at 8%, you’ve hedged against inflation.
@@Ksenia584 You're right, I wish I was investing instead of playing football on the backyard while I was seven.
The biggest wealth killer is wasted spending on wants.
When did people buy a house for half their salary?
No - you can afford to rent on a single salary
@@jsebby2284bullshit.You save 10k a year now what? After 30 years when you are 60 or 70 MAYBE you can get another house.Congrats bro you never sPENT any money your whooe life and went for work - home and yoi have another house at70 .
No Netflix was hurt during this short
“(No one talks about)” I’ve heard this exact same thing regurgitated about 500 times at this point
Bro just said " give us all the money & work like an ass , take $1m when you're on the way to catch the bus of afterlife "
That is why this life is not worth we will die either way dont follow money you will always have to sacrifice something
He didn't say anyhting remotely close to that
@@jsebby2284But he implied it. Learn to think critically.
@@hellucination9905 he didn't even remotely imply it. Learn to not be an idiot
And then once I have the million dollars, I’d be able to buy Starbucks, eat a nice lunch, watch Netflix, and not have to take public transport. Can’t wait!
"I don't need million dollars, because all I would do with a million is the same as I'm doing right now." basically
where i agree that you don't need a lot of money to lead a life, you are just showing that you have nothing else to do with your life and just couldn't handle that amount of money, or just have no big interest in doing exciting things, like travelling the world
also this is just meant to show how easy it is to get rich
Yep! And you are definitely guaranteed to live that long. So don’t spend anything on yourself today. Put it all into a money machine that the speaker is also invested into so we can all make more money! Now is a great time to invest since the economy is booming.
30 years? Im only 37...i want to have fun now!
Not him buying Starbucks and throwing $10000 without any concern
If only companies paid their employees enough to afford anything but toilet paper and ramen
You’d think they don’t but go to any shopping mall and they are all packed. So even if the companies are underpaying people need to put their spending in check.
@tobiasthederp That is cope.
First: You get paid according to your skills and your work quality. Improve and make yourself more valuable, and get paid more.
Second: You are complaining and making excuses, as an attempt to avoid responsibility of not wasting money ad the video explains.
In both points, you fail to take responsibility for your own situation, which is the main problem with all the whiners like you in the comments.
@@EnderViBrittaniadont help The beta male Alfa bro😂 what do you make 13$ an hour
@@EnderViBrittaniajust cuz you make kaffefee dose that mean you cant make money to live of? Yes somone can do The job cheeper sure and its brain dead work but again why shoud you not be able to make a living
If you stop buying toilet paper and just go around with a dirty ass, you could save up to $5000 a year, and with an 18% annual return in an index fund you could be a millionaire by the time your friends and family abandon you because you smell like festering shit!
i know i know, but buying overpriced coffee in the morning is one of the few upsides in my day
you're not drinking coffee you're like drinking a liquid cake
@@Furret_engi let me enjoy my coffee milkshake in peace
@@benjimiguel17 yeah but you're not a real coffee drinker like me! I'm addicted to a legal drug!
@@Furret_engi you okay?
@@benjimiguel17 n o .
Damn public transport be looking real good rn
I broke down all my old bad habits and couldn’t believe it equared to a 32k salary per year. No wonder I was living paycheque to paycheque. Cutting it all out I've seen great success and freed myself. Stay Uncommon!
30 years from now: $300,000 cup of coffee; $500,000 lunch; $200,000 uber; $150,000 donut. Oh and Oops the market just crashed and all your money is gone.
Dude is telling us not to eat and walk 50 miles to work, no thanks. 💀
Takes me more time to shop for, organize & make a sandwich every day than the money it cost to buy one
thats why youre poor
@@PatrickGigachadshut up
Wtf, he said make your own food at home and consider public transit. He never said don’t eat and walk to work 😂 No, nvm, you should just give up. I’m sure everything will turn out fine 👍🏽
@@GabrielBacon there's a big difference between being money-conscious (knowing how much more you can afford to spend to have some leftover for investing) and not spending anything at all on things that can not only make you more productive but also happier overall. And just for your information, I do investments too as he suggested, and actually wouldn't be surprised if you were poorer than me, based on your lower-class obnoxious behavior on social media.
When im away from home , I mostly just buy food from supermarkets rather than restaurants/takeaways by far the cheapest option
Damn it's so easy to be rich you just have to find a 8% low risk compound interest why did nobody think about that ! This short really enlightened me !
...30 years of misery...
You don't have to be so extreme about it, but cutting some Comfort to be financially free during retirement is a good trade
Don’t be extreme. Cut some unnecessary spendings doesn’t mean you can’t enjoy yourself. For example if you were planning to go to holiday on first class and live in a large popular five star hotel, you could instead fly economy and live in a smaller four star hotel. This doesn’t mean you can’t go to your holiday, it’s just cutting some spendings without really compromising too much.
@@leojin5838 of course, but my morning coffee from starbucks stays 😁
Don't go broke trying to look rich
@@M.e.h..$1M isn’t financially free… What do you think that $1M is going to be worth 30 years from now. Close to $250,000 today at the rate of inflation. That’s beans.
I feel that the last bull run was bolstered by all the money being printed. Major returns next bull run but I think they will be tamer in my humble opinion. A 10x on Abel Dorsey and a 15x on polygon are fair considering how much those two coins are interwov
$fet Made over 200x and it's an old horse. So no
Yes and kinda no. Your right about all the printing and government spending boosting the market better than I might ever will (within our lifetime) but there is still opportunities, just gotta look a little harder.
This is 100% a rug pull scam
Remember 27$
A year has 365 days
365×27 =9855 so he's wrong
If everyone does that our economy is ruined
8% interest on yearly basis is usually based on high risk high reward formula, which means that in order to get 1M+ in 30 years as you mentionned, you'd also need 30 consecutive years without any hassle or trouble, which is possible but unlikely.
The issue is that in 30 years that million dollars wont even cover your internet bill 😂
Yes it will.
Also, save more then
@@jsebby2284 Save more? Absolute genius. Save more while restricting yourself and living frugally and then end up as a really miserable person when you're old because you wasted your life? But at least you now have a nice house! ..And zero friends.
@Septembermoodddd you would think it's common sense but in today's day and age yeah it is pretty genius. Thanks man.
Why would you be miserable? How did you waste your life? Why would you just be getting a nice house? And why would you have zero friends?
Dude do whatever you want with your money. You just don't get to complain when you have nothing saved for retirement then.
My statement of "save more" was just a simple repsonse to the guys idiotic comment. It's really not that deep
The big financial problems people face are huge houses and expensive cars they can't afford, those things make you poor, not a latte or a 2 dollars sweet treat.
latte or sweet treats are those types of expenses which everyone ignores, not those types of expenses which can't empty your bank account
and this guy also told us about that
his advice might not be fully acceptable
but you can't ignore that too
and ofc drinking latte or something is the way you enjoy your life
so that advice wasn't for those who don't want to touch greater reaches (tips ain't always fact, so doing or not doing might or might not effect your life, you can still reach them. but to be honest sometimes normal life is better than being rich for me)
Every week they are
Exactly! The cost of living has vastly outpaced wages. It's all well and good telling people to spend less money but what about the expenses he's not mentioning ridiculously expensive rent and essentials. That's what truly screws people.
Are you guys refuting his $10,000 a year quote here? The math adds up. A lot of you jokers are spending even more than that yearly on frivolous things. What he said and what you’re saying don’t have anything to do with each other
Its sound advice thought. The less money you spend on stuff you dont need, the more money you have to invest in your future
dude... here in Stockholm, a 1 way trip on public transport is $4 fml
Bro called peanut butter and jelly a damn lunch.
Everything added up, but $4 on overpriced transport???! Here in nyc it’s $4 for one foot entering the cab before it even starts moving
Single trip metro card in NYC is only $2.90, and the monthly one is like $132 or something for unlimited rides every month. Much more economical.
Yeah lost me there too. $4 for a ride even just down a street is a great deal.
I don’t use public transportation whenever I go to a new city for a few days for work, no need to burden myself learning their routes and schedules if I’m going to leave soon, so I usually uber everywhere. I was in NYC for two days, was paying just under $30 to go like 3 miles in Manhattan lol
Public transport is $10 return where I live.
We have almost as big a "basic fee" for taxis in my country before it even starts. That, and no one uses a taxi every day to go to work that they could swap out with public transport. Most people already have a monthly/yearly pass and take a taxi when they need to. No one will ever become a millionaire, not even in 30 years by putting that amount of money aside. Plus what safe investment ever actually has an average 8% yield? Any time they promised sg like that, it never materialised. Plus it means you won't have any other savings for 30 years and you will inevitably need funds for things in the meantime because, you know, that's your entire life.