I’ve got a favour to ask! If you enjoy this conversation, please double check that you’ve liked the video and subscribed to the channel! That's a small way you can help us carry on doing this, really appreciate you! ❤🙏🏾
Well done Steven and DOAC team. I've just finished listening on Spotify. But I felt the pull to come hit the like button on YT. ❤ You have no idea how much impact you're making by doing what you enjoy and being you. Thank you.
Steve, Can you please invite Dominic Williams, chief scientist at Difinity to talk about web 3. Dominic Williams is revolutionizing the blockchain space with the Internet Computer, setting the stage for the next era of decentralized innovation. His insights and vision are exactly what your audience needs to hear. Bringing him on your podcast would spark an engaging and transformative conversation that tech enthusiasts and futurists alike would love!
That's awesome! Was my goal also to retire before 50, but lots of life challenges & job loss delayed my plans ... so postponed it to 60. Which is not young, but I plan on being in full health by then, so I'll feel younger despite the age 😁
Definitely a balance tho, study shows that the more you earn the likely you also are to spend more. With that said its such a cliche to say just dont spend money, one could save every penny possible and be miserable. Spend money on things that makes your life better and save money where its unnecessary. Takes a certain mindset to actually have a goal in mind but everyone can do it, if you earn more you literally have no excuse to save money so its a factor for sure.
The problem we have is because Most people always taught that " you only need a good job to become rich " . These billionaires are operating on a whole other playbook that many don't even know exists.
It is remarkable how much long term advantage people like us have gotten by trying to be consistently not stupid, instead of trying to be very intelligent.
The wisest thing that should be on everyone mind currently should be to invest in different streams of income that doesn't depend on government paycheck, especially with the current economic crisis around the world.
Even with the right technique and assets some investors would still make more than others. As an investor, you should've known that by now that nothing beats experience and that's final. Personally I had to reach out to a stock expert for guidance which is how I was able to grow my account close to $35k, withdraw my profit right before the correction and now I'm buying again.
I have enough to put about $100 a month and I only make 20,000 a year and then when I get my taxes for the kids I put that away in my vanguard cash plus 3.9 percent.I've saved some money in 4 years it's not a lot but it's helped for emergencies. I stopped using credit cards, cook more at home. I have two kids and saving!!!
100$ a month invested properly will grow to 100'000+ in a few years. google it. dollar cost averaging. but be mindful, S&P and nasdaq are in very overvalued territory since years.
Considering that you have dependents and your income is modest, your discipline is a testament to your pragmatism 👏 Wealth creation is a matter of endurance💰
Taking responsibility for the last 15 years of my life where I was spending, "investing", and living in pure emotionally/ego driven spending. I'm a 36 year old, single dad, tradesman and I'm basically starting over with a degree from school of hard knocks...after listening to this, I'm determined to change that mindset and coarse correct. Thank you
@@jacobmoneyYes, that’s what I’m holding out for. I know it won’t happen this cycle with only a $7k investment. But, it’s a start towards putting in some real money next time around.
I have lived in same 1 bedroom apartment for over 10 years paying now $575/month for base rent before utilities & insurance. My last 3 years, I have invested a nice amount of money & what my number was 3 years ago now has a 1 in front of it. 2025, hoping to hit the $200K mark in retirement accounts.
Nah let me explain. If you buy a house for yourself it’s not really a good investment. By the time you pay for maintenance , land taxes, interest, the house will be a poor investment. What you do is rent out your basement and you can automatically change that poor investment into a good one. You’d make way more money putting the money into s&p then you would buying your house. I’m a real estate investor I know all about this topic .
What they are saying about house it's that you have to understand what your goals. Like I have enough money to buy a house but I don't buy cause my goal is to leave job and work for myself and capital is very important.
A house should not be allowed to be an investment. Period. It's a place to live, have a family, be safe, study. Everyone deserves this as a basic human right.
Back in the day, when I purchased my first home to live-in; that was Miami in the early 1990s, first mortgages with rates of 8 to 9% and 9% to 10% were typical. People will have to accept the possibility that we won't ever return to 3%. If sellers must sell, home prices will have to decline, and lower evaluations will follow. Pretty sure I'm not alone in my chain of thoughts.
If anything, it'll get worse. Very soon, affordable housing will no longer be affordable. So anything anyone want to do, I will advise they do it now because the prices today will look like dips tomorrow. Until the Fed clamps down even further, I think we're going to see hysteria due to rampant inflation. You can't halfway rip the band-aid off.
consider moving your money from the housing market to financial markets or gold due to high mortgage rates and tough guidelines. Home prices may need to drop significantly before things stabilize. Seeking advice from a financial advisor who understands the market could be helpful in making the right decisions.
Melissa Terri Swaynea 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.
Average UK salary = £34k (take home £27k) approximately. Please do an episode on how the average person should spend/invest. The guy that says to invest £30k a year is a joke for 99% of the people listening to this!
he's talking in USD so obviously for the US market... you can do yourself the calculations adjusting to the UK average salary and cost of living using their numbers from the US market. It's not that hard to adjust the calculations if you want.. there's no need for another whole episode just for that
Alright, I’ve got $149k chillin’ in my emergency fund, and I’m ready to get this investment train rolling. This video better deliver some serious hacks because I’m done watching my money just sit there like a lazy couch potato. Give me that headstart magic!
I hear you, but don’t get too carried away with these “hacks.” Sometimes, slow and steady wins the race. When I started, I thought I’d figured it out myself, but a financial advisor really helped me sort things out and build a smart strategy. You should consider that!
Okay, I’m officially in the same boat-sitting on savings and clueless about the next move. A financial advisor sounds smart, but how do you even find a good one? Too many scams out there, and I’m not trying to lose my hard-earned money.
There are a handful of CFAs. I’ve experimented with a few over the past years, but I’ve stuck with Linda Aretha Reeves for some years now, and her performance has been consistently impressive. She’s known in her field-look her up.
I am 77 years old, still working for my own technology company. I continue to work because I enjoy what I am doing, I keep moving, I learned new things. Am I doing the right Thing.
A house is the best investment one can make in life. I regret everyday of my life I spent paying someone elses house. Because it will always be a house, not your HOME. I worked and saved hard for 5 years, asked for a 5 year personal loan and bought accordingly to my budget. And I am truly free now ❤❤❤❤
I'm truly happy for you, I hope more people can achieve this. I'm very far from even being able to take out that 5 year personal loan that could afford a basic house, but however long it takes, I will get there.
Much easier said than done. It's all the steps in-between that are the most difficult. Most people just don't know *_how_* or *_where_* to increase their income and invest, relative to their nuanced lives. Most know how to save and that's about it. They know they should spend less on certain things, and might even break some habits or cancel some subscriptions, but simply doing that will not get you more income. In my country, as of September 2024, we have a youth unemployment rate of 60.2% (job-seekers between the ages of 18 and 24), so even getting a job is almost impossible without nepotism or getting extremely lucky for the unemployed youth (which I'm a part of due to losing my job a few months ago). Keep in mind that this stat includes people with and without any kind of formal education. The whole country feels hopeless with no "cure" or form of "treatment" to the economic troubles in sight. Forgive my rambling, but that sort of thing makes it easy for the aggrieved person(s) to consider self-deletion.
@@ak-jxrdy-7 there’s always a bull market somewhere. Obtain a skill that the market will pay you well for. I just worked 16 hours OT on my day off to generate extra income. Saving is the easiest step. Track every single purchase you make down to the cent and you will discover that you are wasting a lot of money.
Most people's biggest expense for life is RENT. Fuck paying rent!! Start making actual sacrifices and face the consequences and take accountability for your own financial life. My net worth went from negative 175,000 in consumer non-mortgage debt, to debt free 0 in 3 years doing that.
Everyone should aim to have their own home-not necessarily a big or expensive one, but something within their means. Owning a home ensures that during tough times, when finances are tight, you won’t have to worry about paying rent. You can focus on getting by with basic necessities, like affordable food, and still have the security of a roof over your head.
that's assuming you have the house paid off, which most people don't until they're very old. If you can do that, great! just not simple for most part of the world where housing is expensive. I think it's just in your head, if you instead focus on having a cushion in the bank which enables you not need to worry about paying rent (or mortgage) for the rest of your life then you're all set the same way... but with more flexibility to move around for better opportunities and saving reasons... or just if you feel like living somewhere else. Also with the bonus of not having to deal with contractors and costs for everything that breaks down in the house with time.
When money is tight and you are a homeowner beware of rising maintenance costs, taxes and utility bills. It can become a financial trap. If I had only one property mortgage free and close to retirement I would sell and rent instead. The landlord is then responsible for all maintenance, not me. The equity released and invested wisely would also boost my retirement funds.
I reached $90k today. Thank you for all the knowledge and insights you've shared with me over the past few months. I began this journey in November 2024. Education essential for over 70% of the population, as only a few are truly literate in this area. Thanks so much Mrs Joanna claire
Wow. I'm a bit perplexed seeing her been mentioned here also Didn’t know she has been good to so many people too this is wonderful, I'm in my fifth trade with her and it has been super.
She is my family's personal Broker and also a personal Broker to many families in the United states, she is a licensed Broker and a FINRA AGENT in the United States.
My son graduated college at 22 with no debt he paid it with work and scholarships, he stayed with me in my house for 2 years and paid no bills and saved all his money, he has more than 100k already 😂 yea that was way faster than investing in the market for 15 years 😂 the point is he’s doing that too but the big gains come from taking advantage of ALL the financial opportunities you have early in life that sets your trajectory for your financial future
Your son is doing great…I myself did sort of the same thing. No school on my end though. Regret it but gotta move on. I got my shit together at 25. Stayed at home still helped mom and dad though. Groceries, rent, among other things. I get made fun for being at home still, and yes it’s a sacrifice, but honestly I don’t feel bad because within our culture is pretty common. 33 now still at home 😂 but I have over 200k in investments I’m proud of that…can’t wait to find a good way to repay my parents. Probably moving out will be a start.
Buying a house was one of my best investment. From $10K to $25k that's the minimum range of profit return every week I think it's not a bad one for me.
I’ve been a listener for about a year now. This is by far the most intriguing, informative, and helpful episode. I actually follow most of these guests already. And I’ve been on a mission for the last 5 years to increase my financial intelligence. But imparting this wisdom on my loved ones hasn’t exactly been easy. This episode is perfect because it presents these concepts and instructions in a simple, straight forward, easy to understand way that allows anyone to follow along and take action. I literally sent this to each of my family members today, ages ranging from adult to middle school student, along with specific instructions for what part to watch and to be ready for a conversation
I’m 76 so a bit late for me I think. But I am going to take up his point of having different accounts as I’m already dreading my car insurance which is due in August. I love your podcasts. After losing my husband a few weeks ago my daughter has given me my first 2025 resolution we are both going to listen to a Podcast she chooses one week I choose the next. Yours are def up there and hopefully she will love yours as much as I do. Happy new Year to all stay healthy and happy and enjoy every moment.
I am 62, I was feeling I’m too old,. But I’m going to try. I want to use my tiny money … I mean tiny to make it work better. The banks are not good. I’m very scared of my future. If I can make it work I’ll message you! Stay 💪 strong, every month I’ll update you. Promise. 😊Never say never.
From $85k to $310k that's the minimum range of profit return every week i think it's not a bad one for me, now i have enough to pay bills and take care of my family.
Huge congratulations to you! That's an incredible achievement, growing your portfolio from $6k to $30k! Your discipline, patience, and smart investment strategies have really paid off. Enjoy celebrating this milestone - you've earned it! What's your next financial goal?
Unbelievable podcast! For me Nos 7, 3 & 1 really hit home for me! Children need to watch this in school and again & again until it sinks in! You are an inspiration. I’m 62 and am teetering on the brink! But I’m still listening & thinking 🤔 thank you & Happy New Year
I'm Celebrating a $30k today. Started this journey with $6k. I have invested on time and also with the right terms now I have time for family and life ahead of me
I'm new to cryptocurrency and don't understand how it really works. how can someone know the right approach to investing and making good profits from cryptocurrency investments. As a beginner what do I need to do? How can I invest, on which platform? If you know any please share.
Just stay open-minded and trust the process. Evan Dennis will guide you step by step. And when you see the results, don’t forget to share your testimony to inspire others!
17:00 In what world is being able to afford to set aside $30,000 a year "modest"?! I do invest in mutual funds and have a growing 401(k), but these financial pundits only account based on the happiest path in the fairest of conditions. These calculations need more real life prompts, like: "Johnny Smith has been laid off 3 times in 20 years. He is 45 years old today. Each layoff wipe out 80% of his retirement savings and he had to take out the principle after he used up all his personal savings, UI, and could not find a job after 12 months of active search. The most he made is $100,000. But, in the 2 times he found work, it was for 25% less pay. He has not been able to get a job in their field paying more than $75,000 and he's too tired to climb the corporate ladder." NOW, do the compound calculation.
These are very valuable rules for anybody who wants to get rich. Unfortunately, most people who will watch this video will not really be able to apply the principles. We may not want to admit, but as Warren Buffett once said, investing is like any other profession-- it requires a certain level of expertise. No surprise that some people are losing a lot of money in the bear market, while others are making hundreds of thousands in profit. I just don't know how they do it. I have about $89k now to put in the market.
Understanding personal finances and investing will most likely lead to greater financial independence. By being knowledgeable about money and investing, individuals can make informed decisions about how to save, spend, and invest their money. I know someone who made over $350k in this recession influenced market, but to the best of my knowledge, it was through a financial advisor.
Yeah, financial advisors could make a lot of difference, particularly in a market such as this. Stocks are pretty unstable at the moment, but if you do the right math, you should be just fine. Bloomberg and other finance media have been recording cases of folks gaining over 250k just in a matter of weeks/couple months, so I think there are a lot of wealth transfer in this downtime if you know where to look. I have been using an FA since 2019, and I return at least $21k ROI, and this does not include capital gain.
'Carol Vivian Constable, 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've experimented with a few over the past years, but I've stuck with ‘’Carol Vivian Constable” for about two years now, and her performance has been consistently impressive. She’s quite known in her field, look her up.
Investing in alternative income streams that are independent of the government should be the top priority for everyone right now. especially given the global economic crisis we are currently experiencing. Stocks, gold, silver, and virtual currencies are still attractive investments at the moment.
It is recommended to seek the assistance of a financial advisor or broker to diversify your investment portfolio through the inclusion of commodities, inflation-indexed bonds, and stocks of financially stable companies, rather than relying solely on growth stocks with uncertain future earnings.
Such market uncertainties are the reason I don’t base my market judgements and decisions on rumours and here-says, got the best of me 2020 and had me holding worthless position in the market, I had to revamp my entire portfolio through the aid of an advisor, before I started seeing any significant results happens in my portfolio, been using the same advisor and I’ve scaled up 950k within a year, whether a bullish or down market, both makes for good profit, it all depends on where you’re looking.
My adviser is " Annette Christine Conte" You can easily look her up. She has years of financial market experience and she is also FINRA & SEC verifiable.
The fact you have Minority Mindset is dope I’ve been following that guy before he blew up and I always felt like he had some sound advice good to know that he’s doing big things and Congrats to you because you have a great channel.
I invested in a house; it is freedom and security. The best thing I ever done. Thats the very 1st thing you should invest in, after that everything else is extra !!
Be aware of property tax, home insurance, HOA , ( that go up every year) maintenance , utilities . Make sure you have the money when you retire, those costs add up quickly
I would love to ask them about buy house or rent when you old and not well. 70 year old not working can you still afford to rent??? Really doubt that. I think owning a home gives you stability, look how many people on streets because they cannot keep up with rent increase. And this will get worse. I suggest you to buy a house/apartment that you can afford and it is not consuming all your money.
Yeah my mortgage payments are gradually going down while people I know who are renting are paying more and more and now don't have the money for their own home. When they are old they will have that constant pressure to find the (ever increasing) money every month
This is sneaky good,Steve is so unassuming and introverted and he’s done an amazing job mitigating it through every interview,I don’t think he planned that,and I’m not sure he even knows it? I love the genuine honesty of the interview itself,as the guests are always very specialized in their field,of course,and he has a genuine curiosity about the subject and the experts eat it up as a signal,and we usually get some unexpected genius from them collectively and it’s unique in that fashion and similar to Rogan,just for the educated,and I’m a huge Rogan fan,so it’s not a knock,it’s a style…
Something that i wish they highlighted with investing. That at age 30 @ 5000 to you a year is only 70000... that's 60k in earned interest. At 30 years that's only 150k cost to you. The rest is the power of compounding interest.
I bought a house 25 years ago, and it has quadrupled in value. I’m not going to sell it, because housing is so expensive no matter if you rent or buy. It is at 3 1/2%. I was focused on location.
1st speaker on investments. I think the amounts that average Joe has to invest every month/yr is somewhat unrealistic and makes me want to switch off after 5...
Exactly my complaint with most of these people, I’d really rather hear from those who are currently the “average Joe” and what they’re doing NOW that’s so ground breaking to inspire the rest of us pheasants.
Yeah, it's dumb. All his arguments until that point are great, but that last calculation was just off the charts and losing 90% of people. Even with his argument "yeah in the beginning it's not, but over time it gets more" 30k each year on average assumes that you already are putting in 30k in the first years, which - due to compound interest - are obviously the most important years. Let's assume a linear increase still averaging 30k and starting at 5k yearly. The final total becomes 7.6M instead of 12.7M. Still sounds good but it also means that that for example while going to college I'm already having to put up 1k a month - I was hustling during that time and working my ass off, making 25k before tax. After tax (2.5k), mandatory pension fund (2.3k), health insurance (2.2k), rent (shared appartment, 7k) I'm left with 11k. But I didn't buy any books, food, anything. So putting away 1k a month means I'm at minus 1k a year and haven't eaten. Let's keep it going; right now I'm 36, sticking with the linear increase I'm supposed to be doing 26k. I'm doing pretty well, as a single I'm making roughly double the average household income (which usually means 2 persons' income), so pretty good. That's 90k a year gross. Subtracting tax, mandatory insurance, I'm left with 51k net income. I live in the cheapest appartment I could find, it's roughly 1.5k a month including electricity, heating etc., so 18k, leaves me with 33k. I don't own a car, I take some vacations, but always low budget, go out a couple of times a month, yeah, but I still manage to do 1.5k a month in "savings", so roughly 1.2k in investments, the rest goes to my "rainy day fund". So pretty much at the peak (my income isn't likely to keep growing as much) I'm still only doing half of the proposed investment goal. Remember we're scaling up linearly? At 65 (year 49) I'm supposed to put in half a million. How? Including his comment about you wanting to invest differently when you're older - which I agree with - you would also have to decrease the assumed 7% interest a bit (less risk --> less reward) But I'm not going to do the work for this one :D The thing is, I agree with almost everything they're saying, and I'm also sure I'll make it to being financially independent quiet soon. My point is that the numbers the first guy put out are completely unrealistic even for fourth quintile income (top 60%-80%) and in my opinion invalidating the points he's made before.
@@jakobtheiner6329 I felt that his calculations were off with these 30k a year... Even if you start early and increase each year, it is really hard to get on 30k on average for a regular person, even if you own a business. Your comment just sums this up nicely.
I just started watching…. First, buy books and learn. Second, increase your income, third find investment strategy you feel comfortable in cause things will go south and you have to have confidence to hold through the pain. Don’t rely on google or UA-cam for info. Buy books and learn .
new age concepts sell books but not real. awareness of possible opportunities is what hold people back. If you weren't brought up in a family that was financially literate, investing won't even be on your radar.
Ramit Sethi, 1st investing "Expert", breathes rarified air ... many people today barely MAKE $30k per year. Stephen, it's amazing that you would have been able to invest $5k / yr when you were 16. Most people can't possibly even imagine that. However, unless you are only catering to wealthy listeners (by luck, hard work, or birth) please draw out info that would be useful to average wage earners, and qualify the info directed at wealthy people. I enjoy most of your podcasts that interest me.
Your podcast has been nothing short of blessings, insightful, mentally developing, and inspiring. I admire the conversation with your guest. Hopefully, I will get to be like you or in your show. Much love and support in 2025 from Kenya 🇰🇪
But not for Stephen and I think that was what he was targeting at that moment. I was thoroughly disgusted by the whiteboard wielding "expert" by her insulting "boomers" How stupid is she that she would assume that those older than her would know less about how to write on a whiteboard DUH. She is deleted.
Yup, and buying and index fund that yields 7-8% is barely going to match inflation and currency debasement. But at least it's better than putting money in a bank.
In Romania where i live home ownership rate is 95%, here if you live in a rent people will tend to see you as a looser, owning a home is very important, i can't imagine being old on your final days and having to pay rent or else eviction for you sir
I know of many people who rented their whole lives and probably saved up and invested more than those who bought homes, paid inflationary interests rates, (some lost thousands to poor buys, maintenance, HOA Fees, rates and so on). Owning a home doesn’t always mean that you will retire comfortably /
I agreed 👍 💯 i grown up with the house my dad build. And after that property went to higher. Yes if i have old days it will be in a house i will own ❤❤❤
@@CasualChatwithKim I'm a big believer in buying a house to live in but has to be within your means and a smart buy. I'd rather pay my own mortgage off then a landlords is the way I see it. It's also a forced savings plan so in 25 years or so you own the property out right. I'd hate to pay someone rent for 25 years and at the end not own anything. Buy a house with a suite or rent out a bedroom, plenty of ways to leverage a house of your own.
I understand the cultural part of it, but it's something totally in your mind and you can decide not to follow it. If you have a lot of money "in the bank" in investments and giving a good return, you don't need to worry about renting out... it gives you flexibility and less headaches with dealing with contractors when things break down. You can easily just move to another place if you want or find a better opportunity... In Switzerland most people rent for their whole lives and that's totally okay... it's just a cultural thing (like religion)
I need help! I inherited 108K in Dec... I bought things I've always wanted and before I realized how much I had actually spent, I had spent around 50K.... I dont know where to start to invest!! Where the hell do I start??? What, who do I trust??
I just want to say I enjoy that you ask questions as if you know nothing about the subject even if it’s a simple question you yourself probably know the answer to, I appreciate that you’re aware others may not. I think that’s what makes this show extra successful.
Here is the situation with my sister, she is now 45, she have been renting her whole life from 18 years old, thats 27 years, she actually paid enough money not for one but two apartments, landlords are really happy.
Why wouldn't you do the right thing for you and her and invest in a home for her. You could be partners in not only her security but your own and you would be doing what all families are capable of doing.....helping out their loved ones. Or are you like most Americans, at war with her and family and would rather rub her nose in it in order to feel superior. You could have done something 5, 10, 20 years ago if you have the means. So typically american.
As long as she has been investing the difference into the S&P she should be sitting pretty. In most large markets renting makes more sense once you include property taxes, insurance, maintenance and opportunity cost. Purchasing a home should not be seen as an investment. I think that’s the problem.
The last conversation spoke to me directly. It's like i was sitting there and he was looking at me in the eyes and saying those things, because I had found myself in that loop.
I don’t usually comment on UA-cam, but I wanted to take a moment to say how much I truly enjoy your content and the value you bring to the world. Thank you for all that you do!❤ I also wanted to ask if you could consider bringing someone onto your platform to discuss the current issues surrounding student loans. It’s such a confusing topic, and I’m feeling a bit lost. With no interest accruing right now, I’m unsure if I should continue paying to chip away at the debt or if it’s smarter to apply for an IBR or ICR plan and hold off on payments until things are resolved. Financial decisions can be so overwhelming, and I’d really appreciate any insight on what might be the most strategic approach in this situation. Thank you for all the help you provide.
Everybody needs a home. I’m nearly 60 and only just getting my first home soon after my whole life of instability and that’s only cos I cared for mum for years full time until she died. By the time it’s split I’m on a tight budget but stability is vital for everything including mental health. However although I’ve made a fair amount of money in crypto will need to cash some in to add to buying a house although it was meant for my pension
“It Gamefies you” This is an eye opening on so many levels! All humans in 2025 should be aware that they can be gamefied! This notion should be added to the even stretching list of human addictions. 🙏🏼🙏🏼🙏🏼
The buying versus renting a house debate depends on several factors - subjective and objective local property market, interest rates) factors. Regarding the latter, I was in my late 40s, happily renting, earning a very modest government salary, when a mining boom in my locality pushed up demand for rentals. My rent started going up as well. I realised that external factors and approaching retirement would exclude me from home ownership if I did not look and the numbers and course correct. I began living frugally, got a financial education, saved up a deposit, bought a modest, affordable house. Then paid it off quickly, to get the bank off my back. Best decision I ever made, both subjectively and financially, at least in my circumstances. Each one be aware of what is happening around them, not stay fixed on one rule regarding home ownership, and change course if necessary.😊
At 49:48, Warren Buffett's Wealth analysis is incorrect because it wasn't general market performance which allowed him to go from $3bn to over $100bn. He is an active investor and majority of his returns came as a result of deep analysis and his x-factor in determining solid investments. Not something the average person invested in say index funds or a diversified stock portfolio could ever achieve. It wasn't a good example of time-in-the-market.
I own two houses in Canada, one street apart. one for my family (3 kids and my husband and I); one for my parents in law. I am so lucky that I’ve got the lowest rate on earth 1.97% for 5 year. We don’t make a lot of money for the banks! (I know most of home owners do! ) We rent out our basement, which helps to paid out our mortgage a bit, yet. Life is good! Because I’m not living with my mother in law ( we’ve been living tgt for 7 years), but at the same time, they help out a lot to look after the kids while we are at work. In 2025, I wish all of you fulfilled with joy, loved, prosperity and happiness! ❤
funds is absolutely the way for people who arent into investing. I dont typically think about my money. I pay off my bills, buy my food, and dont waste money on junk. Every month i have between 500-2000dollars left over, and when that builds up to close to 10k i dump it into the fund and forget about it.
@@em13108 I dont recommend specific funds, various banks have access to different funds. But look for one that dont charge alot in fees, and one that "mirrors the index". Funds come in all forms, some may only focus on tech, some may only focus on oil, some may be homecooked. Those are all risky. The ones that follow an "index" are ones that will mirror the market as a whole, and are typically safe. For further info, i'd have to see the selection of funds you have access to. If you screenshot your list of selections, then i may be able to give better details. Just make sure you dont include any personal info in that screenshot.
You have a smart strategy. I know too many people in my field that blow all kinds of money on trendy clothes, too many trips, Starbucks daily, etc. and they have nothing left over. I worked hard, spent under my means, and am now retired with good savings and a steady (but fixed) income. I own my own home and paid for my son's undergrad degree. I am not wealthy, but am content that I have what I need with common sense saving and investing over the years.
ok I see, but how do you feel about all this $$$ going into the fund but nothing to you year after year. Wouldn't rental property be better because you would see the cash flow every month and no worries about a crash?
@@gianthills ok first off, realestate can crash, just like a fund can. Keep in mind you put maybe 400k down on a house, and only pay maybe 40k for the loan. So if that house goes down in value by 25%, its dropped by 100k And 100k is more money than you put into it in the first place. Plus you need to manage tenants, who may decide to stop paying, or trash the place. There may be fire, or water damage, etc. Which some will be covered by insurance but still a risk on your end. To sum up, realestate is a good way to invest, if you're into it. Or willing to learn alot. But it is NOT easy to get into. And its a terrible choice for people who arent interested in investing in the first place. Funds are alot safer, and require 0 effort. However it may or may not yield more return in the end.
i truly love this video & it hits home in a lot of areas. my favorite part is the realization of having money as an adolescent, but not utilizing it correctly seeing how it being used properly could lead to six figures not only within 15 years, which is natural time that passes by. i had about to touch 5k two/three years ago and well as of now (21 y.o) we’re starting back at $100. considering now trying to be more financially responsible as well as investing and cautious now
Wow! Great show!!! Is there a link to each of these shows somewhere?? ... Thanks for your leadership. I've been viewing your show for several months.... So I just had to join your member's club. Stay strong!
This guy doesn't recommend buying a house but you still have to live somewhere and rental is EXTORTIONATE in this country. What do you recommend? A tent? Live in your car?
I'd wager a guess if rent is high houses cost much as well? Whichever you choose, try to pick as cheap one as you can manage to get by with. The main point is not to think house as an investment
Stop telling people not to buy homes. Homes are not only the best investment but security too. Goal should be to pay it off ASAP and then use extra money to invest.
That only works if you don't live beyond your means and aren't one missed payment or one serious illness away from bankruptcy which, sadly, isn't the case for many if not most people in the US.
Just don't have someone trip on your driveway, or cause someone injury whilst driving to work, or your pet dog biting a leg of a stranger or worse than that, large medical bills. You WILL be sued and/or a LIEN placed against your so called "secure" home. If you want real security, buy a property via an LLC, do not buy as a private individual.
If you keep seeing buying a house as an investment, you are making a mistake.A house gives you a sense of security,something to go home to,build memories in.
ABSOLUTE PROPS - this was a Masterpiece! I see you saved the "best for last" - I absolutely love Jaspreet's channel - always excellent information (from a random guy on UA-cam that likes GUAC!!) Again thanks for this compilation to help me (and others) to get our minds laser focused on one of the most important areas in life - our finances! I'll def be sharing this video with family and friends!
For everyone commenting how unrealistic the advice given here is.. I want you to realize there is no difference between these entrepreneurs and yourself, besides the decisions and actions you take everyday.
they are different. most of these guys got a big head start, usually had a father who was well connected in business, so access is huge. They typically get jobs through the father or work directly for the father.
facts all day long, we just don't like taken accountability for our daily spending....... living off credit cards, buying stuff off temu, amazon, and tiktok that we don't need, dunkin or starbucks daily or cigarettes and GANja, wine, or clubs, bars you name it if we buckle down our spending and save more....
You did a good thing and I did the same for me is a great idea, we should not listing everything that they are saying... like not buy a house, investing 30k a year LOL
Another true story. Bought a 4 bed detached home for £155,000 cash (includes buying fees) at auction in 2016. Spent £25,000 on renovations. Sold it 6 years later in 2022 for £335,000. Profit £155,000 before taxes.
Hi Steven 2+ years into your podcast, and your deep dives on wealth-building have been 🔥. But here’s the one question NO guest has tackled yet: Can we build generational wealth in our 20s without sacrificing the chance to build a stable family? I’m 26 and all-in on wealth creation-but I’m equally driven to start a family now, not at 35. Every expert preaches relentless sacrifice and focus, but what’s the real cost to our relationships, parenting, and marriage when we grind nonstop in our prime years? This tension affects millions of your listeners. I’d love to hear you break it down in a future episode. -A loyal fan who refuses to believe “delay everything” is the only answer.
I m 40 and I always spent my money, now I m broke as consequences obviously but starting to change my mindset and thinking to invest, but I didnt know how, this is a great video with great suggestions so Thank you for sharing this with us
I went from many stocks, and buying and selling somewhat, to few stocks and holding. But this is a process. I had to find my way there. Same with renting vs buying. I had to go through it myself and lose money buying.
Steven, thank you for asking the question that me & some viewers are thinking of asking “ what is a fund “ bc some of us genuinely do not know. So thank you. God bless you
So wait to buy a house until corporations buy up remaining housing market and we're forced into overpriced living conditions. What good are your investments in the long term if you can't have secure housing in the short-term.
I love the tax guy the most. this dude is a freaking genius and i love how direct and straightforward he is. no evasive technical jargon bs . can someone help me with his name please
My father in law gave us about $5000 about 30 years ago. We put it in a Vanguard fund. I argued with my husband for years to leave it alone. We just put a $54,000 addition on our house. We never touched that account until we closed it. We didn’t even add to it. Just paid the taxes on the interest every year.
Thankyou for this.. I'm always interested to know real life stories of manageable investment. I'm trying to get up to 5000. I've put mine in an equity 60% isa with Hargreaves Lansdowne. I literally have zero idea on what I'm doing 😅
My dad said don't keep money in a bank long term. Instead, save enough to buy a one ounce gold coin, and keep doing it, no matter the price. His advice has made me rich. Gold now over $2,300 per coin.
Most rich people got rich by spending money that they didn’t have. But they spent their debt on assets that made them more money. It depends on what you spend your money.
Please make a video for the normal people earning less than £30/40k a year, the struggling single mums, people who can't work much due to disabilities etc. Most people my age (40's) will be lucky to even have a pension. Not alone a decent one or a big investment pot to look forward to.
It's the spending above your means or trying to keep up the Jones that hurts normal people. It is a struggle when the media / society implies that you should have it all on nothing. ???
Unfortunately I'm one if those people you talked about that is paying the crazy high taxes. I'm trying to figure out how to get to the next level and start paying less to the IRS. Thank you for this video! Its a great start. I'm sick about how much taxes I pay!
Love the authenticity in lots of those conversations, and Steven laughing ... and yes, I'll keep listening to this video several more times ... brilliant! Thank you.
I’ve got a favour to ask! If you enjoy this conversation, please double check that you’ve liked the video and subscribed to the channel! That's a small way you can help us carry on doing this, really appreciate you! ❤🙏🏾
Well done Steven and DOAC team. I've just finished listening on Spotify. But I felt the pull to come hit the like button on YT. ❤ You have no idea how much impact you're making by doing what you enjoy and being you. Thank you.
Steve, Can you please invite Dominic Williams, chief scientist at Difinity to talk about web 3. Dominic Williams is revolutionizing the blockchain space with the Internet Computer, setting the stage for the next era of decentralized innovation. His insights and vision are exactly what your audience needs to hear. Bringing him on your podcast would spark an engaging and transformative conversation that tech enthusiasts and futurists alike would love!
Hi Steven , pls consider inviting Jonathan Cahn. It will blow your mind..
That is what they mean. If you can't save while paying a mortgage, don't get a mortgage.
Thank you for producing such great content as usual, All the best in your various endeavors.
The best advice I ever got was that it's not how much you make, it's how much you spend. Retired at 48. It's a beautiful day in Florida. Peace out. :)
Rich people don’t waste money like poor people do.
I'm with you ... retired early in Canada
That's awesome! Was my goal also to retire before 50, but lots of life challenges & job loss delayed my plans ... so postponed it to 60. Which is not young, but I plan on being in full health by then, so I'll feel younger despite the age 😁
Definitely a balance tho, study shows that the more you earn the likely you also are to spend more. With that said its such a cliche to say just dont spend money, one could save every penny possible and be miserable. Spend money on things that makes your life better and save money where its unnecessary. Takes a certain mindset to actually have a goal in mind but everyone can do it, if you earn more you literally have no excuse to save money so its a factor for sure.
@@ajbunches825 rich people have generally made more than a total gross of 250k by 30 years old.
The problem we have is because Most people always taught that " you only need a good job to become rich " . These billionaires are operating on a whole other playbook that many don't even know exists.
Money invested is far better than money saved, when you invest it gives you the opportunity to increase your financial worth.
It is remarkable how much long term
advantage people like us have gotten by trying to be consistently not stupid,
instead of trying to be very intelligent.
The wisest thing that should be on everyone mind currently should be to invest in different streams of income that doesn't depend on government paycheck, especially with the current economic crisis around the world.
Many individuals report success in investing in stocks,fx, yet I continue to struggle.Can somebody help me out or advise me on what to do?
Even with the right technique and assets some investors would still make more than others. As an investor, you should've known that by now that nothing beats experience and that's final. Personally I had to reach out to a stock expert for guidance which is how I was able to grow my account close to $35k, withdraw my profit right before the correction and now I'm buying again.
I have enough to put about $100 a month and I only make 20,000 a year and then when I get my taxes for the kids I put that away in my vanguard cash plus 3.9 percent.I've saved some money in 4 years it's not a lot but it's helped for emergencies. I stopped using credit cards, cook more at home. I have two kids and saving!!!
100$ a month invested properly will grow to 100'000+ in a few years. google it. dollar cost averaging. but be mindful, S&P and nasdaq are in very overvalued territory since years.
Well done. Every step forwards is a step forwards regardless of size.
Considering that you have dependents and your income is modest, your discipline is a testament to your pragmatism 👏 Wealth creation is a matter of endurance💰
🔥 🔥
Credit cards give you free money and benefits. Get back to using them but just pretend they are debit
Taking responsibility for the last 15 years of my life where I was spending, "investing", and living in pure emotionally/ego driven spending. I'm a 36 year old, single dad, tradesman and I'm basically starting over with a degree from school of hard knocks...after listening to this, I'm determined to change that mindset and coarse correct. Thank you
I WISH EVERYONE A PROSPEROUS 2025 🔥🔥
🙏
Right back at ya mate ! ❤❤❤
Same to you and yours! 🙏
🌟💫🍀🌱🌳🌱🌳🌱🍀💫🌟
Thank you! What a lovely sentiment..💝
Health, Wealth, and Happiness to you as well ❤🎉
When they say "Don't buy a house", what they really should be saying is "Don't buy a house you can't afford".
Yes, but ALSO: it's better to invest in crypto and stocks now and wait for, 5 years and you can buy 3 houses by then.
@@jacobmoneyYes, that’s what I’m holding out for. I know it won’t happen this cycle with only a $7k investment. But, it’s a start towards putting in some real money next time around.
I have lived in same 1 bedroom apartment for over 10 years paying now $575/month for base rent before utilities & insurance. My last 3 years, I have invested a nice amount of money & what my number was 3 years ago now has a 1 in front of it. 2025, hoping to hit the $200K mark in retirement accounts.
Nah let me explain. If you buy a house for yourself it’s not really a good investment. By the time you pay for maintenance , land taxes, interest, the house will be a poor investment. What you do is rent out your basement and you can automatically change that poor investment into a good one. You’d make way more money putting the money into s&p then you would buying your house. I’m a real estate investor I know all about this topic .
@@AdamJFxyou guys are just hoping and gambling . Invest in something that’s not so risky don’t go all in on one gamble like crypto
Buying a house is not meant to make you rich. Buying a house is buying roof over your head so you don't get wet when it rains.
What they are saying about house it's that you have to understand what your goals. Like I have enough money to buy a house but I don't buy cause my goal is to leave job and work for myself and capital is very important.
What is the return rate and growth of the stocks by year? Do they get dividends?
just buy an umbrella
A house should not be allowed to be an investment. Period. It's a place to live, have a family, be safe, study. Everyone deserves this as a basic human right.
@@smokejc😂😂😂
Back in the day, when I purchased my first home to live-in; that was Miami in the early 1990s, first mortgages with rates of 8 to 9% and 9% to 10% were typical. People will have to accept the possibility that we won't ever return to 3%. If sellers must sell, home prices will have to decline, and lower evaluations will follow. Pretty sure I'm not alone in my chain of thoughts.
If anything, it'll get worse. Very soon, affordable housing will no longer be affordable. So anything anyone want to do, I will advise they do it now because the prices today will look like dips tomorrow. Until the Fed clamps down even further, I think we're going to see hysteria due to rampant inflation. You can't halfway rip the band-aid off.
consider moving your money from the housing market to financial markets or gold due to high mortgage rates and tough guidelines. Home prices may need to drop significantly before things stabilize. Seeking advice from a financial advisor who understands the market could be helpful in making the right decisions.
I will be happy getting assistance and glad to get the help of one, but just how can one spot a reputable one?
Melissa Terri Swaynea 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.
She appears to be well-educated and well-read. I ran a Google search for her name and came across her website; thank you for sharing.
Average UK salary = £34k (take home £27k) approximately. Please do an episode on how the average person should spend/invest. The guy that says to invest £30k a year is a joke for 99% of the people listening to this!
Exactly - the numbers are not realistic for the average salary in the UK
he's talking in USD so obviously for the US market... you can do yourself the calculations adjusting to the UK average salary and cost of living using their numbers from the US market. It's not that hard to adjust the calculations if you want.. there's no need for another whole episode just for that
@@guimcestari 30-40% difference in the numbers won't change the whole picture.
Simple learn new skills and get that money up
Maybe he meant £3,000 a year. Even that is pushing it for most folk.
Alright, I’ve got $149k chillin’ in my emergency fund, and I’m ready to get this investment train rolling. This video better deliver some serious hacks because I’m done watching my money just sit there like a lazy couch potato. Give me that headstart magic!
I hear you, but don’t get too carried away with these “hacks.” Sometimes, slow and steady wins the race. When I started, I thought I’d figured it out myself, but a financial advisor really helped me sort things out and build a smart strategy. You should consider that!
Okay, I’m officially in the same boat-sitting on savings and clueless about the next move. A financial advisor sounds smart, but how do you even find a good one? Too many scams out there, and I’m not trying to lose my hard-earned money.
There are a handful of CFAs. I’ve experimented with a few over the past years, but I’ve stuck with Linda Aretha Reeves for some years now, and her performance has been consistently impressive. She’s known in her field-look her up.
Just looked up Linda Aretha Reeves-wow, she seems exactly like what I need to kickstart my financial journey. Thanks for the recommendation!
I remember watching Linda Aretha Reeves at a Bloomberg Finance Summit a few years ago-her insights were absolutely phenomenal! She's the real deal.
I am 77 years old, still working for my own technology company. I continue to work because I enjoy what I am doing, I keep moving, I learned new things. Am I doing the right Thing.
Yes
A house is the best investment one can make in life.
I regret everyday of my life I spent paying someone elses house.
Because it will always be a house, not your HOME.
I worked and saved hard for 5 years, asked for a 5 year personal loan and bought accordingly to my budget.
And I am truly free now ❤❤❤❤
I'm truly happy for you, I hope more people can achieve this. I'm very far from even being able to take out that 5 year personal loan that could afford a basic house, but however long it takes, I will get there.
your house doesnt make you money
@@pentrubarbatiit does if it appreciates and you then sell.
@@ak-jxrdy-7why the personal loan?
@@kerrisouth i dont know nobody that sells there house and buys a cheaper one and apreciation is not earning money also you have a lot of expamses
Increase your income. Cut your expenses. Invest the difference. There you go.
Simples! I spend €300 per month on drink & cigarettes! HELLO!!! 🤦🏼♀️
Much easier said than done. It's all the steps in-between that are the most difficult. Most people just don't know *_how_* or *_where_* to increase their income and invest, relative to their nuanced lives.
Most know how to save and that's about it. They know they should spend less on certain things, and might even break some habits or cancel some subscriptions, but simply doing that will not get you more income.
In my country, as of September 2024, we have a youth unemployment rate of 60.2% (job-seekers between the ages of 18 and 24), so even getting a job is almost impossible without nepotism or getting extremely lucky for the unemployed youth (which I'm a part of due to losing my job a few months ago). Keep in mind that this stat includes people with and without any kind of formal education.
The whole country feels hopeless with no "cure" or form of "treatment" to the economic troubles in sight. Forgive my rambling, but that sort of thing makes it easy for the aggrieved person(s) to consider self-deletion.
@@ak-jxrdy-7 there’s always a bull market somewhere.
Obtain a skill that the market will pay you well for. I just worked 16 hours OT on my day off to generate extra income.
Saving is the easiest step. Track every single purchase you make down to the cent and you will discover that you are wasting a lot of money.
Most people's biggest expense for life is RENT. Fuck paying rent!! Start making actual sacrifices and face the consequences and take accountability for your own financial life. My net worth went from negative 175,000 in consumer non-mortgage debt, to debt free 0 in 3 years doing that.
@@Cyberpunk_Radio_PBSrent is the biggest. How would you get rid of that? Good for you? How did you do it/your story?
Everyone should aim to have their own home-not necessarily a big or expensive one, but something within their means. Owning a home ensures that during tough times, when finances are tight, you won’t have to worry about paying rent. You can focus on getting by with basic necessities, like affordable food, and still have the security of a roof over your head.
that's assuming you have the house paid off, which most people don't until they're very old. If you can do that, great! just not simple for most part of the world where housing is expensive.
I think it's just in your head, if you instead focus on having a cushion in the bank which enables you not need to worry about paying rent (or mortgage) for the rest of your life then you're all set the same way... but with more flexibility to move around for better opportunities and saving reasons... or just if you feel like living somewhere else. Also with the bonus of not having to deal with contractors and costs for everything that breaks down in the house with time.
Unfortunately even with a paid off home , when retired and possible hard times, you can't afford taxes on home. Taxes can be more than some rents
When money is tight and you are a homeowner beware of rising maintenance costs, taxes and utility bills. It can become a financial trap. If I had only one property mortgage free and close to retirement I would sell and rent instead. The landlord is then responsible for all maintenance, not me. The equity released and invested wisely would also boost my retirement funds.
Plus property taxes and house insurance, both of which rise a lot every year.
Taxes. Repairs.
I reached $90k today. Thank you for all the knowledge and insights you've shared with me over the past few months. I began this journey in November 2024. Education essential for over 70% of the population, as only a few are truly literate in this area. Thanks so much Mrs Joanna claire
Wow. I'm a bit perplexed seeing her been mentioned here also Didn’t know she has been good to so many people too this is wonderful, I'm in my fifth trade with her and it has been super.
She is my family's personal Broker and also a personal Broker to many families in the United states, she is a licensed Broker and a FINRA AGENT in the United States.
You trade with joanna claire too? Wow that woman has been a blessing to me and my family
I’m new at this, how can I reach her?
I was skeptical at first until I decided to try. It’s huge returns is awesome! I can’t say much.
My son graduated college at 22 with no debt he paid it with work and scholarships, he stayed with me in my house for 2 years and paid no bills and saved all his money, he has more than 100k already 😂 yea that was way faster than investing in the market for 15 years 😂 the point is he’s doing that too but the big gains come from taking advantage of ALL the financial opportunities you have early in life that sets your trajectory for your financial future
Your son is doing great…I myself did sort of the same thing. No school on my end though. Regret it but gotta move on. I got my shit together at 25. Stayed at home still helped mom and dad though. Groceries, rent, among other things. I get made fun for being at home still, and yes it’s a sacrifice, but honestly I don’t feel bad because within our culture is pretty common. 33 now still at home 😂 but I have over 200k in investments I’m proud of that…can’t wait to find a good way to repay my parents. Probably moving out will be a start.
There is nothing wrong with living with the parents. It's good company for the parents, and it helps set out the kids for life.
@@Juan0824you're doing good 👍🏻
I would be proud of him, plus, you provided support for him, you are a great parent!
Moving out to brooklyn has taught me this lol good on you for taking care of your son
Buying a house was one of my best investment.
From $10K to $25k that's the minimum range of profit return every week I think it's not a bad one for me.
I'm celebrating a $30k stock portfolio today. Started this journey with 6k, I have invested on time and also with the right terms now.
Wow that's huge, how do you make that much weekly? I'm 37 and have been looking for ways to be successful, please how??
Oh yeah. I was able to achieve that with help of my Guru expert, Jennifer Spencer ❤❤❤❤
She's a licensed broker and successful entrepreneur from the state.
That's great!!. I don't know anything about investing and I intend to start. What are your strategies?
I’ve been a listener for about a year now. This is by far the most intriguing, informative, and helpful episode. I actually follow most of these guests already. And I’ve been on a mission for the last 5 years to increase my financial intelligence. But imparting this wisdom on my loved ones hasn’t exactly been easy. This episode is perfect because it presents these concepts and instructions in a simple, straight forward, easy to understand way that allows anyone to follow along and take action. I literally sent this to each of my family members today, ages ranging from adult to middle school student, along with specific instructions for what part to watch and to be ready for a conversation
Ive already started the ball rolling for my kids and started £100 per month when they were born. No one did it for me so I gotta do it for them!
I’m 76 so a bit late for me I think. But I am going to take up his point of having different accounts as I’m already dreading my car insurance which is due in August.
I love your podcasts.
After losing my husband a few weeks ago my daughter has given me my first 2025 resolution we are both going to listen to a Podcast she chooses one week I choose the next. Yours are def up there and hopefully she will love yours as much as I do.
Happy new Year to all stay healthy and happy and enjoy every moment.
It's never too late, you might live to 125, God bless you and happy new year x
I am 62, I was feeling I’m too old,. But I’m going to try. I want to use my tiny money … I mean tiny to make it work better. The banks are not good. I’m very scared of my future. If I can make it work I’ll message you! Stay 💪 strong, every month I’ll update you. Promise. 😊Never say never.
God bless you.
You are doing so amazing ! Its never too late to make a change :)
Don’t give up never surrender, you aren’t too old you watch this so it’s a step in the right direction that most don’t take . Best of luck to you ❤
From $85k to $310k that's the minimum range of profit return every week i think it's not a bad one for me, now i have enough to pay bills and take care of my family.
I'm celebrating a $30k stock portfolio today. Started this journey with 6k, i have invested on time and also with the right terms now.
Wow that's huge, how do you make that much, I'm 37 and have been looking for ways to be successful, please how??
Huge congratulations to you!
That's an incredible achievement, growing your portfolio from $6k to $30k! Your discipline, patience, and smart investment strategies have really paid off.
Enjoy celebrating this milestone - you've earned it! What's your next financial goal?
Ohh yeah, that was possible with the help of my Guru Layla zoe ❤️❤️❤️
She's a licensed broker and successful entrepreneur from the state.
Unbelievable podcast! For me Nos 7, 3 & 1 really hit home for me! Children need to watch this in school and again & again until it sinks in! You are an inspiration. I’m 62 and am teetering on the brink! But I’m still listening & thinking 🤔 thank you & Happy New Year
Thanks
I really enjoy this format of curating similar content from the podcasts into one thematical episode, thanks!
YES! Hoping to see more like this!!
I'm Celebrating a $30k today. Started this journey with $6k. I have invested on time and also with the right terms now I have time for family and life ahead of me
I'm new to crypto!. How can I make more profitable investment in crypto currency without incurring much losses?
Wow, congratulations on your financial breakthrough! Could you share more about the investment that’s generating $30k today
I'm new to cryptocurrency and don't understand how it really works. how can someone know the right approach to investing and making good profits from cryptocurrency investments. As a beginner what do I need to do? How can I invest, on which platform? If you know any please share.
Just stay open-minded and trust the process. Evan Dennis will guide you step by step. And when you see the results, don’t forget to share your testimony to inspire others!
Yeah, 263k from Evan Dennis, looking up to acquire a new House, blessings.
This podcast should be included in schools program!
10 out of 10!
17:00 In what world is being able to afford to set aside $30,000 a year "modest"?! I do invest in mutual funds and have a growing 401(k), but these financial pundits only account based on the happiest path in the fairest of conditions. These calculations need more real life prompts, like: "Johnny Smith has been laid off 3 times in 20 years. He is 45 years old today. Each layoff wipe out 80% of his retirement savings and he had to take out the principle after he used up all his personal savings, UI, and could not find a job after 12 months of active search. The most he made is $100,000. But, in the 2 times he found work, it was for 25% less pay. He has not been able to get a job in their field paying more than $75,000 and he's too tired to climb the corporate ladder." NOW, do the compound calculation.
he talked about it in relation to an average
Try a free interest compound calculator and figure out your own gameplan. Is not meant to be easy apparently...
😂😂😂 why is everyone missing the part where this assumption starts with 16year olds having $30000 to put away annually?
Completely ignores the first example..
So true!
These are very valuable rules for anybody who wants to get rich. Unfortunately, most people who will watch this video will not really be able to apply the principles. We may not want to admit, but as Warren Buffett once said, investing is like any other profession-- it requires a certain level of expertise. No surprise that some people are losing a lot of money in the bear market, while others are making hundreds of thousands in profit. I just don't know how they do it. I have about $89k now to put in the market.
Understanding personal finances and investing will most likely lead to greater financial independence. By being knowledgeable about money and investing, individuals can make informed decisions about how to save, spend, and invest their money. I know someone who made over $350k in this recession influenced market, but to the best of my knowledge, it was through a financial advisor.
Yeah, financial advisors could make a lot of difference, particularly in a market such as this. Stocks are pretty unstable at the moment, but if you do the right math, you should be just fine. Bloomberg and other finance media have been recording cases of folks gaining over 250k just in a matter of weeks/couple months, so I think there are a lot of wealth transfer in this downtime if you know where to look. I have been using an FA since 2019, and I return at least $21k ROI, and this does not include capital gain.
Would you mind telling me how to contact this specific coach using their service? You seem to have the solution, as opposed to the rest of us.
'Carol Vivian Constable, 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've experimented with a few over the past years, but I've stuck with ‘’Carol Vivian Constable” for about two years now, and her performance has been consistently impressive. She’s quite known in her field, look her up.
Investing in alternative income streams that are independent of the government should be the top priority for everyone right now. especially given the global economic crisis we are currently experiencing. Stocks, gold, silver, and virtual currencies are still attractive investments at the moment.
It is recommended to seek the assistance of a financial advisor or broker to diversify your investment portfolio through the inclusion of commodities, inflation-indexed bonds, and stocks of financially stable companies, rather than relying solely on growth stocks with uncertain future earnings.
Such market uncertainties are the reason I don’t base my market judgements and decisions on rumours and here-says, got the best of me 2020 and had me holding worthless position in the market, I had to revamp my entire portfolio through the aid of an advisor, before I started seeing any significant results happens in my portfolio, been using the same advisor and I’ve scaled up 950k within a year, whether a bullish or down market, both makes for good profit, it all depends on where you’re looking.
I’ve been down a ton, I’m only holding on so I can recoup, I really need help, who is this investment-adviser that guides you?
My adviser is " Annette Christine Conte" You can easily look her up. She has years of financial market experience and she is also FINRA & SEC verifiable.
Google Annette Christine Conte and do your own research. She has portfolio management down to a science
Hi Steven and DOAC team. Could you add the name of each guest being interviewed at the beginning of each snippet. Many thanks 😊
The fact you have Minority Mindset is dope I’ve been following that guy before he blew up and I always felt like he had some sound advice good to know that he’s doing big things and Congrats to you because you have a great channel.
The fact that nobody talks about the book Forbidden Money Behind Closed Doors talks about how people attract money
Nobody is talking about it because it belongs in the trash can 🗑️
@ maybe because God didnt guve you mindset of milionare
Scam alert
nutshell?
Guys you are so funny,go and cry without money
I invested in a house; it is freedom and security. The best thing I ever done. Thats the very 1st thing you should invest in, after that everything else is extra !!
It is also a chain around one's neck. Taxes, Utility bills and Maintenance costs drain the bank account especially during retirement.
Be aware of property tax, home insurance, HOA , ( that go up every year) maintenance , utilities . Make sure you have the money when you retire, those costs add up quickly
I would love to ask them about buy house or rent when you old and not well. 70 year old not working can you still afford to rent??? Really doubt that. I think owning a home gives you stability, look how many people on streets because they cannot keep up with rent increase. And this will get worse. I suggest you to buy a house/apartment that you can afford and it is not consuming all your money.
I agree especially when you plan to raise a family. Kids can't live in an apartment, it's just not a place for them.
Yeah my mortgage payments are gradually going down while people I know who are renting are paying more and more and now don't have the money for their own home.
When they are old they will have that constant pressure to find the (ever increasing) money every month
Thanks for the feature and thanks for helping spread this financial education 🙏🙏🥑🥑
Saw your comment and had to click the thumbs up… BeLoW!!!
You're just a random guy on UA-cam. 😄
This is sneaky good,Steve is so unassuming and introverted and he’s done an amazing job mitigating it through every interview,I don’t think he planned that,and I’m not sure he even knows it? I love the genuine honesty of the interview itself,as the guests are always very specialized in their field,of course,and he has a genuine curiosity about the subject and the experts eat it up as a signal,and we usually get some unexpected genius from them collectively and it’s unique in that fashion and similar to Rogan,just for the educated,and I’m a huge Rogan fan,so it’s not a knock,it’s a style…
All those words and only two sentences. Punctuation is our friend. It really makes it easier to read. Please try it.
With over 8M followers you are the living proof that love what you do every day & the money follows.
helps to be born into $ like most of the people I see on here
Something that i wish they highlighted with investing. That at age 30 @ 5000 to you a year is only 70000... that's 60k in earned interest.
At 30 years that's only 150k cost to you. The rest is the power of compounding interest.
I bought a house 25 years ago, and it has quadrupled in value. I’m not going to sell it, because housing is so expensive no matter if you rent or buy. It is at 3 1/2%. I was focused on location.
I recommend everyone to find the book titled The Secret Doctrine of Wealth, it changed my life.
thanks for share, where we can find that book?
thanks
1st speaker on investments. I think the amounts that average Joe has to invest every month/yr is somewhat unrealistic and makes me want to switch off after 5...
Exactly my complaint with most of these people, I’d really rather hear from those who are currently the “average Joe” and what they’re doing NOW that’s so ground breaking to inspire the rest of us pheasants.
Then just invest what you can instead? The alternative is do nothing
Yeah, it's dumb. All his arguments until that point are great, but that last calculation was just off the charts and losing 90% of people.
Even with his argument "yeah in the beginning it's not, but over time it gets more" 30k each year on average assumes that you already are putting in 30k in the first years, which - due to compound interest - are obviously the most important years.
Let's assume a linear increase still averaging 30k and starting at 5k yearly. The final total becomes 7.6M instead of 12.7M.
Still sounds good but it also means that that for example while going to college I'm already having to put up 1k a month - I was hustling during that time and working my ass off, making 25k before tax. After tax (2.5k), mandatory pension fund (2.3k), health insurance (2.2k), rent (shared appartment, 7k) I'm left with 11k. But I didn't buy any books, food, anything. So putting away 1k a month means I'm at minus 1k a year and haven't eaten.
Let's keep it going; right now I'm 36, sticking with the linear increase I'm supposed to be doing 26k. I'm doing pretty well, as a single I'm making roughly double the average household income (which usually means 2 persons' income), so pretty good. That's 90k a year gross. Subtracting tax, mandatory insurance, I'm left with 51k net income. I live in the cheapest appartment I could find, it's roughly 1.5k a month including electricity, heating etc., so 18k, leaves me with 33k. I don't own a car, I take some vacations, but always low budget, go out a couple of times a month, yeah, but I still manage to do 1.5k a month in "savings", so roughly 1.2k in investments, the rest goes to my "rainy day fund". So pretty much at the peak (my income isn't likely to keep growing as much) I'm still only doing half of the proposed investment goal.
Remember we're scaling up linearly? At 65 (year 49) I'm supposed to put in half a million. How?
Including his comment about you wanting to invest differently when you're older - which I agree with - you would also have to decrease the assumed 7% interest a bit (less risk --> less reward) But I'm not going to do the work for this one :D
The thing is, I agree with almost everything they're saying, and I'm also sure I'll make it to being financially independent quiet soon. My point is that the numbers the first guy put out are completely unrealistic even for fourth quintile income (top 60%-80%) and in my opinion invalidating the points he's made before.
Can't agree more
@@jakobtheiner6329 I felt that his calculations were off with these 30k a year... Even if you start early and increase each year, it is really hard to get on 30k on average for a regular person, even if you own a business. Your comment just sums this up nicely.
I just started watching…. First, buy books and learn. Second, increase your income, third find investment strategy you feel comfortable in cause things will go south and you have to have confidence to hold through the pain. Don’t rely on google or UA-cam for info. Buy books and learn .
The fact that nobody talks about the book whispers of manifestation on borlest speaks volumes about how people are stuck in a trance
Why are you repeating this everywhere 😂
Scam
Scam
new age concepts sell books but not real. awareness of possible opportunities is what hold people back. If you weren't brought up in a family that was financially literate, investing won't even be on your radar.
Ramit Sethi, 1st investing "Expert", breathes rarified air ... many people today barely MAKE $30k per year. Stephen, it's amazing that you would have been able to invest $5k / yr when you were 16. Most people can't possibly even imagine that. However, unless you are only catering to wealthy listeners (by luck, hard work, or birth) please draw out info that would be useful to average wage earners, and qualify the info directed at wealthy people. I enjoy most of your podcasts that interest me.
The channel is geared for the elite 1% of the US who owes 30% of the nation's wealth.
3 things that made me rich:
1. Watching Diary of the CEO
2. Book called The secret money magnet formula by ronan virell
3. Cold showers
Cold showers interesting . I am trying as well but nothing is working
Cold showers? Are you a man?
Cold showers?🤔
@@LavvekJeSmece ..must be a man since you deleted my comment 😄
@@caramelsupreme low energy costs 😂
Your podcast has been nothing short of blessings, insightful, mentally developing, and inspiring. I admire the conversation with your guest. Hopefully, I will get to be like you or in your show.
Much love and support in 2025 from Kenya 🇰🇪
Adding 30k a year is laughably unrealistic for 95% of all Americans. Silly, when considering most Americans gross pay.
But not for Stephen and I think that was what he was targeting at that moment. I was thoroughly disgusted by the whiteboard wielding "expert" by her insulting "boomers" How stupid is she that she would assume that those older than her would know less about how to write on a whiteboard DUH. She is deleted.
Beat me to it, lol
So true, my annual gross was only 32,000 per year lol
Yup, and buying and index fund that yields 7-8% is barely going to match inflation and currency debasement. But at least it's better than putting money in a bank.
@@hudson2861
I understood her to mean her handwriting was shaky and hard to read. I love listening to her UA-cam channel- very inspiring.
In Romania where i live home ownership rate is 95%, here if you live in a rent people will tend to see you as a looser, owning a home is very important, i can't imagine being old on your final days and having to pay rent or else eviction for you sir
I know of many people who rented their whole lives and probably saved up and invested more than those who bought homes, paid inflationary interests rates, (some lost thousands to poor buys, maintenance, HOA Fees, rates and so on). Owning a home doesn’t always mean that you will retire comfortably /
I agreed 👍 💯 i grown up with the house my dad build. And after that property went to higher. Yes if i have old days it will be in a house i will own ❤❤❤
@@CasualChatwithKim I'm a big believer in buying a house to live in but has to be within your means and a smart buy. I'd rather pay my own mortgage off then a landlords is the way I see it. It's also a forced savings plan so in 25 years or so you own the property out right. I'd hate to pay someone rent for 25 years and at the end not own anything. Buy a house with a suite or rent out a bedroom, plenty of ways to leverage a house of your own.
I understand the cultural part of it, but it's something totally in your mind and you can decide not to follow it. If you have a lot of money "in the bank" in investments and giving a good return, you don't need to worry about renting out... it gives you flexibility and less headaches with dealing with contractors when things break down. You can easily just move to another place if you want or find a better opportunity...
In Switzerland most people rent for their whole lives and that's totally okay... it's just a cultural thing (like religion)
In Romania you can buy a detached house with a large garden for 10,000 Euros. Of course home ownership is high.
I need help! I inherited 108K in Dec... I bought things I've always wanted and before I realized how much I had actually spent, I had spent around 50K.... I dont know where to start to invest!! Where the hell do I start??? What, who do I trust??
I just want to say I enjoy that you ask questions as if you know nothing about the subject even if it’s a simple question you yourself probably know the answer to, I appreciate that you’re aware others may not. I think that’s what makes this show extra successful.
Buying a house was one of my best investments.
Agreed, you need a place called home. It's something concrete you can touch.
Don't stop there, leverage your asset(s) and invest in stocks or ETF's for serious returns + wealth creation = financial freedom!
@@trueconspiracies7945 did you buy it cash? Are you going to sell it? Do you rent it out?
This is GOLD. Great collection; super valuable. Thank you so much!
So glad you appreciated these!
Fr
Here is the situation with my sister, she is now 45, she have been renting her whole life from 18 years old, thats 27 years, she actually paid enough money not for one but two apartments, landlords are really happy.
Is she investing?
Why wouldn't you do the right thing for you and her and invest in a home for her. You could be partners in not only her security but your own and you would be doing what all families are capable of doing.....helping out their loved ones. Or are you like most Americans, at war with her and family and would rather rub her nose in it in order to feel superior. You could have done something 5, 10, 20 years ago if you have the means. So typically american.
As long as she has been investing the difference into the S&P she should be sitting pretty. In most large markets renting makes more sense once you include property taxes, insurance, maintenance and opportunity cost. Purchasing a home should not be seen as an investment. I think that’s the problem.
I rent now because in my area the local taxes were more than i pay for rent and utilities. I can now save money for other than home maintenance.
@@elizabethscholly8912 right, you can just save up your investment too buy a house later
The last conversation spoke to me directly. It's like i was sitting there and he was looking at me in the eyes and saying those things, because I had found myself in that loop.
I don’t usually comment on UA-cam, but I wanted to take a moment to say how much I truly enjoy your content and the value you bring to the world. Thank you for all that you do!❤
I also wanted to ask if you could consider bringing someone onto your platform to discuss the current issues surrounding student loans. It’s such a confusing topic, and I’m feeling a bit lost. With no interest accruing right now, I’m unsure if I should continue paying to chip away at the debt or if it’s smarter to apply for an IBR or ICR plan and hold off on payments until things are resolved. Financial decisions can be so overwhelming, and I’d really appreciate any insight on what might be the most strategic approach in this situation. Thank you for all the help you provide.
Everybody needs a home. I’m nearly 60 and only just getting my first home soon after my whole life of instability and that’s only cos I cared for mum for years full time until she died. By the time it’s split I’m on a tight budget but stability is vital for everything including mental health. However although I’ve made a fair amount of money in crypto will need to cash some in to add to buying a house although it was meant for my pension
Would love to see Dave Ramsey on Diary of a CEO!
Thank you for making such valuable info accessible!
I sure hope Ramsey will never make it here. His bulling,fake self righteous and disregard for a human life has no place here!
Alternative thumbnail: "You will own nothing, and you will be happy"
That was an observation of how it is, not a James Bond villain plan.
@@stephanguitar9778Doesn't mean it didn't, and won't continue to, play out in the exact way it was described.
That's what they thought about the people at palace Versailles.
That's the agenda 😏
UN agenda 2030 is own nothing be happy. They want the whole world a communist world. Poverty thrives in a communist world/country.
“It Gamefies you” This is an eye opening on so many levels! All humans in 2025 should be aware that they can be gamefied! This notion should be added to the even stretching list of human addictions. 🙏🏼🙏🏼🙏🏼
The buying versus renting a house debate depends on several factors - subjective and objective local property market, interest rates) factors.
Regarding the latter, I was in my late 40s, happily renting, earning a very modest government salary, when a mining boom in my locality pushed up demand for rentals. My rent started going up as well. I realised that external factors and approaching retirement would exclude me from home ownership if I did not look and the numbers and course correct.
I began living frugally, got a financial education, saved up a deposit, bought a modest, affordable house. Then paid it off quickly, to get the bank off my back.
Best decision I ever made, both subjectively and financially, at least in my circumstances. Each one be aware of what is happening around them, not stay fixed on one rule regarding home ownership, and change course if necessary.😊
On this day 30/12/2024 I made 2 of my family members subscribe to this channel🤭I'm happy we gaining grounds, Steve👏🏾👏🏾👏🏾
If many of us had this knowledge from our parents in our teens, we wouldn't be struggling today. It makes me sad, but there is hope.
Change has to start somewhere. End that domino effect 🫶🏾
At 49:48, Warren Buffett's Wealth analysis is incorrect because it wasn't general market performance which allowed him to go from $3bn to over $100bn.
He is an active investor and majority of his returns came as a result of deep analysis and his x-factor in determining solid investments. Not something the average person invested in say index funds or a diversified stock portfolio could ever achieve.
It wasn't a good example of time-in-the-market.
The importance of patience…….this is the best financial advice regarding stock investment
A stock market manipulated by bots. Expect a massive crash soon.
I own two houses in Canada, one street apart. one for my family (3 kids and my husband and I); one for my parents in law. I am so lucky that I’ve got the lowest rate on earth 1.97% for 5 year. We don’t make a lot of money for the banks! (I know most of home owners do! ) We rent out our basement, which helps to paid out our mortgage a bit, yet. Life is good! Because I’m not living with my mother in law ( we’ve been living tgt for 7 years), but at the same time, they help out a lot to look after the kids while we are at work. In 2025, I wish all of you fulfilled with joy, loved, prosperity and happiness! ❤
funds is absolutely the way for people who arent into investing.
I dont typically think about my money. I pay off my bills, buy my food, and dont waste money on junk. Every month i have between 500-2000dollars left over, and when that builds up to close to 10k i dump it into the fund and forget about it.
which one do u reccomend ? im 18 idk any
@@em13108 I dont recommend specific funds, various banks have access to different funds. But look for one that dont charge alot in fees, and one that "mirrors the index".
Funds come in all forms, some may only focus on tech, some may only focus on oil, some may be homecooked. Those are all risky.
The ones that follow an "index" are ones that will mirror the market as a whole, and are typically safe.
For further info, i'd have to see the selection of funds you have access to. If you screenshot your list of selections, then i may be able to give better details. Just make sure you dont include any personal info in that screenshot.
You have a smart strategy. I know too many people in my field that blow all kinds of money on trendy clothes, too many trips, Starbucks daily, etc. and they have nothing left over. I worked hard, spent under my means, and am now retired with good savings and a steady (but fixed) income. I own my own home and paid for my son's undergrad degree. I am not wealthy, but am content that I have what I need with common sense saving and investing over the years.
ok I see, but how do you feel about all this $$$ going into the fund but nothing to you year after year. Wouldn't rental property be better because you would see the cash flow every month and no worries about a crash?
@@gianthills ok first off, realestate can crash, just like a fund can. Keep in mind you put maybe 400k down on a house, and only pay maybe 40k for the loan.
So if that house goes down in value by 25%, its dropped by 100k
And 100k is more money than you put into it in the first place.
Plus you need to manage tenants, who may decide to stop paying, or trash the place. There may be fire, or water damage, etc. Which some will be covered by insurance but still a risk on your end.
To sum up, realestate is a good way to invest, if you're into it. Or willing to learn alot. But it is NOT easy to get into. And its a terrible choice for people who arent interested in investing in the first place.
Funds are alot safer, and require 0 effort. However it may or may not yield more return in the end.
Looking forward to your top moments on love/sex/dating/relationships/marriage! 🤞🏾
Thank you for a year filled with insights and education ❤
Looking forward to 2025!!!
i truly love this video & it hits home in a lot of areas. my favorite part is the realization of having money as an adolescent, but not utilizing it correctly seeing how it being used properly could lead to six figures not only within 15 years, which is natural time that passes by. i had about to touch 5k two/three years ago and well as of now (21 y.o) we’re starting back at $100. considering now trying to be more financially responsible as well as investing and cautious now
Wow! Great show!!! Is there a link to each of these shows somewhere?? ... Thanks for your leadership. I've been viewing your show for several months.... So I just had to join your member's club. Stay strong!
30000 a year is pretty modest huh? My entire salary is considered this guys loose change..
Which is another reason his "you shouldn't buy a house" philosophy is the worst advice you can give to a regular person.
Guy is on another planet
Same😢
Why is your salary 30k?
@@amarabdelli nhs band 5
This guy doesn't recommend buying a house but you still have to live somewhere and rental is EXTORTIONATE in this country. What do you recommend?
A tent? Live in your car?
Agree.
Maybe buy land + build/buy a tiny house and for space build a simple varanda around it.
This guy recommends bonds... Bonds are the worst investment as you lose to debasement.
Maybe a treehouse, a ditch or wheelie bin… all suggestions welcome
I'm in a car. Tis the times and it works for me, but I'd never push it on to someone else.
I'd wager a guess if rent is high houses cost much as well? Whichever you choose, try to pick as cheap one as you can manage to get by with. The main point is not to think house as an investment
Stop telling people not to buy homes. Homes are not only the best investment but security too. Goal should be to pay it off ASAP and then use extra money to invest.
That only works if you don't live beyond your means and aren't one missed payment or one serious illness away from bankruptcy which, sadly, isn't the case for many if not most people in the US.
@bellezai this is very true and very sad indeed.
❤
Just don't have someone trip on your driveway, or cause someone injury whilst driving to work, or your pet dog biting a leg of a stranger or worse than that, large medical bills. You WILL be sued and/or a LIEN placed against your so called "secure" home. If you want real security, buy a property via an LLC, do not buy as a private individual.
This is the way. And it is often better to first buy a small, simple home and move bigger, if you want to, once you are in a financially better place.
If you keep seeing buying a house as an investment, you are making a mistake.A house gives you a sense of security,something to go home to,build memories in.
It's an investment because when u sell it to downsize u get your money back plus more.i know this as I have done it 13 times in my life.
ABSOLUTE PROPS - this was a Masterpiece! I see you saved the "best for last" - I absolutely love Jaspreet's channel - always excellent information (from a random guy on UA-cam that likes GUAC!!)
Again thanks for this compilation to help me (and others) to get our minds laser focused on one of the most important areas in life - our finances!
I'll def be sharing this video with family and friends!
This video is brilliant. I’ve enjoyed watching it so much ❤
Amazing to hear! 🙏
For everyone commenting how unrealistic the advice given here is.. I want you to realize there is no difference between these entrepreneurs and yourself, besides the decisions and actions you take everyday.
they are different. most of these guys got a big head start, usually had a father who was well connected in business, so access is huge. They typically get jobs through the father or work directly for the father.
facts all day long, we just don't like taken accountability for our daily spending....... living off credit cards, buying stuff off temu, amazon, and tiktok that we don't need, dunkin or starbucks daily or cigarettes and GANja, wine, or clubs, bars you name it if we buckle down our spending and save more....
Bought a home in 2021 for 189000 put 14k into it and sold it in 2023 for 265000. True story.
I highly recommend buying a house you can afford.
You did a good thing and I did the same for me is a great idea, we should not listing everything that they are saying... like not buy a house, investing 30k a year LOL
Another true story. Bought a 4 bed detached home for £155,000 cash (includes buying fees) at auction in 2016.
Spent £25,000 on renovations. Sold it 6 years later in 2022 for £335,000. Profit £155,000 before taxes.
and after commissions and other costs, you broke even.
@gianthills listed with a 1% agent so suck it.
Go rain on someone elses parade.
@gianthills listed with a 1% agent. 2k contribution to closing and not a penny more. Any other comments? Keep being negative sweetheart.
Hi Steven
2+ years into your podcast, and your deep dives on wealth-building have been 🔥. But here’s the one question NO guest has tackled yet:
Can we build generational wealth in our 20s without sacrificing the chance to build a stable family?
I’m 26 and all-in on wealth creation-but I’m equally driven to start a family now, not at 35. Every expert preaches relentless sacrifice and focus, but what’s the real cost to our relationships, parenting, and marriage when we grind nonstop in our prime years?
This tension affects millions of your listeners. I’d love to hear you break it down in a future episode.
-A loyal fan who refuses to believe “delay everything” is the only answer.
I m 40 and I always spent my money, now I m broke as consequences obviously but starting to change my mindset and thinking to invest, but I didnt know how, this is a great video with great suggestions so Thank you for sharing this with us
Mate if I could save 30k a year I wouldn’t be up at 2am watching this 16:38
😂😂😂
Best line from the entire show 44:28 "A Super Tax Avoider" - Bloody brilliant. 😂😂😂
This is gold! Thank you for all of the hard work you put into your show and providing knowledge and inspiration! Bless you brother!
Talking about Gold. Now that IS a protection of wealth especially in these inflationary times.
"Super tax avoider" - i was not expecting to laugh out loud when I dialled into this - new subscriber
Jaspreet Singh's snippet was the perfect way to wrap up this video and lock the audience into that mindset! Kudos to the amazing editor/curator!
I went from many stocks, and buying and selling somewhat, to few stocks and holding. But this is a process. I had to find my way there. Same with renting vs buying. I had to go through it myself and lose money buying.
respect, we live and learn, each on teach one
I bought my reasonably priced house for security. Get a thorough inspection before buying.
Great video. Only issue is getting a higher paying job to achieve these goals
yes - and what happens when life happens eg. broken washing machine, broken car and kids happen all in between
Start at 10% of your weekly earnings. Earn £100 per week, save £10
Steven, thank you for asking the question that me & some viewers are thinking of asking “ what is a fund “ bc some of us genuinely do not know. So thank you. God bless you
I am working hard to pay off my debt!! Maybe 8 or 9 months longer and I will be in the green zone!
Keep it comin' Steven... 🎉. Here's to a prosperous 2025.
So wait to buy a house until corporations buy up remaining housing market and we're forced into overpriced living conditions. What good are your investments in the long term if you can't have secure housing in the short-term.
I recommend everyone to find the book titled The Hidden Path to Manifesting Financial Power, It changed my life.
That’s why you wasting time here to promote the trash either you wrote or getting paid promote
Manifesting is BS
44:30 Absolutely hilarious.
Sitting here with your bucket of sand 😂😆
Best laugh I've had all month 👍👍
I love the tax guy the most. this dude is a freaking genius and i love how direct and straightforward he is. no evasive technical jargon bs . can someone help me with his name please
My father in law gave us about $5000 about 30 years ago. We put it in a Vanguard fund. I argued with my husband for years to leave it alone. We just put a $54,000 addition on our house. We never touched that account until we closed it. We didn’t even add to it. Just paid the taxes on the interest every year.
Thankyou for this.. I'm always interested to know real life stories of manageable investment. I'm trying to get up to 5000. I've put mine in an equity 60% isa with Hargreaves Lansdowne. I literally have zero idea on what I'm doing 😅
My dad always preached to us, “Don’t spend what you don’t have.”
My dad said don't keep money in a bank long term. Instead, save enough to buy a one ounce gold coin, and keep doing it, no matter the price. His advice has made me rich. Gold now over $2,300 per coin.
Most rich people got rich by spending money that they didn’t have. But they spent their debt on assets that made them more money. It depends on what you spend your money.
Please make a video for the normal people earning less than £30/40k a year, the struggling single mums, people who can't work much due to disabilities etc. Most people my age (40's) will be lucky to even have a pension. Not alone a decent one or a big investment pot to look forward to.
It's the spending above your means or trying to keep up the Jones that hurts normal people. It is a struggle when the media / society implies that you should have it all on nothing. ???
Unfortunately I'm one if those people you talked about that is paying the crazy high taxes. I'm trying to figure out how to get to the next level and start paying less to the IRS. Thank you for this video! Its a great start. I'm sick about how much taxes I pay!
Love the authenticity in lots of those conversations, and Steven laughing ... and yes, I'll keep listening to this video several more times ... brilliant! Thank you.