As for number 2 on that list, it's the reason I shorted a 3x leveraged financial ETF because I think the new administration will cause more problems in the financial sector by the end of the four year term. Sure, things will look pretty for the financial industry the first year or two, but they always end up eating themselves then beg for a bailout when an economic crash happens. I can't say the name of the ETF because youtube keeps cenoring the comment LOL
LOL youtube deleted my first comment. Let's see if it sticks after rewriting it: I just read "The Fed's twice yearly Financial Stability Report." Two things that caught my eye: 1. Asset valuation pressures are "elevated," though corporate bond spreads remain low; business and household debt risks are considered "moderate." Liquidity conditions in the Treasury cash market appear challenged and could amplify shocks. 2. Financial sector leverage vulnerabilities remain notable, with hedge fund leverage near the highest levels since 2013. --------------------------------------------------- It's safe to say most people don't even know about that report let alone read it. And it states exactly what I've been saying is the problem with the country right now.... ASSET PRICES ARE ELEVATED. I've also been saying it in your videos. It is the main reason for inflation over long periods of time. And the only real solution is a wealth tax on assets whether the asset is sold or not. Make it so the tax only affects those owning more than $10 million in assets so it doesn't mess with people owning a small home or a small business. And no, it's not punishing success to create a proper wealth tax. Don't go there.
I just read "The Fed's twice yearly Financial Stability Report." Two things that caught my eye: 1. Asset valuation pressures are "elevated," though corporate bond spreads remain low; business and household debt risks are considered "moderate." Liquidity conditions in the Treasury cash market appear challenged and could amplify shocks. 2. Financial sector leverage vulnerabilities remain notable, with hedge fund leverage near the highest levels since 2013. --------------------------------------------------- It's safe to say most people don't even know about that report let alone read it. And it states exactly what I've been saying is the problem with the country right now. ASSET PRICES ARE ELEVATED. I've also been saying it in your videos. It is the main reason for inflation over long periods of time. And the only real solution is a wealth tax on assets whether the asset is sold or not. Make it so the tax only affects those owning more than $10 million in assets so it doesn't touch regular people owning a small home or a small business.
Okay, no clue why youtube kept cesnoring my comment, but here is the dry boring version: The Federal Reserve's recent Financial Stability Report highlights two key points: 1. Asset valuation pressures are elevated, with corporate bond spreads remaining low. Business and household debt risks are considered moderate. Treasury cash market liquidity conditions appear challenged and could potentially amplify shocks14. 2. Financial sector leverage vulnerabilities are notable, with hedge fund leverage near the highest levels observed since data collection began. These findings align with concerns about elevated asset prices, which can contribute to long-term inflation. A potential solution to address this issue could be implementing a wealth tax on assets exceeding a certain threshold, such as $10 million, to target individuals with significant wealth without affecting average homeowners or small business owners
I'm favoured only God knows how much I praise Him, $230k every 4weeks! I now have a big mansion and can now afford anything and also support God’s work and the church.
Only God knows how much grateful i am. After so much struggles I now own a new house and my family is happy once again everything is finally falling into place!!
I started pretty low, though, $5000 thereabouts. The return came massive. Joey is in school doing well, telling me of new friends he's meeting in school. Thank you Evelyn Vera, you're a miracle.
I make 100k a year doing asphalt work and traveling in the Colorado Rockies, paid winters off and no degree required. Theres absolutely no competition and no one wants it but its hard sweaty dirty work. My gold stack appreciates it.
Hell yeah. Unfortunately, a lot of people don't want to work a sweaty job. I did concrete work for a while when I was younger and it could be tough work in the heat, but I did pretty well.
People just don't want to do anything but complain about the problems they caused themselves. I maxed out at $80k a year, half CASH, during the pandemic years, and these people can't make crap with 8 years of 'school' under their belt. It's pretty obvious that education, birth place, and everything everyone else wants to complain about hindering them is 100% irrelevant.
It's great if you can do that, most people can't. I'm in the $150K a year category, have zero debt and while I'm comfortable, expenses (taxes, insurance, food) cost a lot more than most people realize. When I retire soon, I'll likely move away to an area that is very low cost. $30k a year I don't think I could even live on today, I think my health insurance alone would cost more than that!
I'm 72, receive $11,000+ (!!!), have good credit and I'm debt free. Somehow, I live under my means. Keeping up with everyone else is financial suicide.
I went to a community college at age 31 with two little kids. Got an Associates degree in Paralegal studies. I had to work for some pretty crappy law firms starting out, but stuck with it and ended my career as a judicial assistant for a US District Court Judge. Not bad for a little community college degree, but I worked long hours, sometimes weekends. I worked my ass off to get there!
Most of the time it seems sticking out maybe 4 years with a shitty company is usually the key to success really. Seems like a gateway of achieving anything over average
To attain upper-class wealth, a wise individual recognizes that building financial success requires smart investments, strategic tax planning, and informed decision-making. Although the stock market offers growth potential, effectively seizing these opportunities demands both skill and expertise.
Stock investments can offer great potential, but it's essential to approach them with caution. I recommend consulting a financial advisor who can help you determine the optimal times to buy and sell.
Accurate asset allocation is crucial. Some use hedging or defensive assets in their portfolio for market downturns. Seeking financial advice is vital. This approach has kept me financially secure for over five years, with a return on investment of nearly $1 million.
Finding financial advisors like Sophia Maurine Lanting who can assist you shape your portfolio would be a very creative option. There will be difficult times ahead, and prudent personal money management will be essential to navigating them.
I worked as a laborer in the Trades for decades for modest pay. Even with just a high school diploma, it has allowed me to learn a wide range of skills which have become valuable. I now manage high end private residences and have been grossing around $200k for several years. Volunteering locally has earned respect of others in my community. This has opened MANY doors of opportunity that i never expected to see. Get involved with your community with no expectations of compensation, and you may be surprised at what may present itself.
you have my respect sir. your hard work is admirable. need more people like you. Hey did you know the NFL = WWE? Also do me a favor and look up Jack Parsons for me, did you know NASA and Scientology are connected?
My wife is 55 years old. She didn't even graduate from high school. She got her GED. She manages two big auto part warehouses. She makes about 130 grand a year. You don't need a college education to make some decent money. What you need is some common sense and a brain.
Very true! I graduated high school by the skin of my teeth. I now make 160K a year with no college education. Furthering your education does not make you a smarter person.
@@pabloescobarschanclas but no one gets a humanities and social sciences bachelors. Humanities and social sciences is the category of study I think. So they’re not completely useless. He may have studied English or sociology or history. Degrees where jobs are scarce.
@@esthera92It’s a degree towards a higher degree, almost all doctorates. Doctorate of Law is very popular, as is Doctorate of Psychology, etc. what I would do right now, if I was that person, is get a 18-24 month Masters of Healthcare Management. With all the boomers in the end phase, Management at any level in the Nursing Home field is a hot commodity for employment right now. They frequently just put in Masters of Business people because they can’t find enough Masters in healthcare management graduates. 🤗
In my opinion, almost every video on this channel is a banger and serves a relevant educational purpose about the economy and general news. Keep it up!
I am retired. When I graduated high school back in 1973, I decided to enlist in the Air Force for six years in return for guaranteed training in computer repair. At age 24, I got out of the military and immediately found a job doing field service on computers since I had training and job experience. Over the years, I made the pivot into software from hardware repair and retired as an IT manager doing development and operations for eCommerce systems for a Fortune 100 company. I strongly believe that today, it is impossible to get your foot in the door without a college degree even with military experience. Not because it adds value but because it filters down the volume of job applicants. There are too many people chasing too few jobs in IT. If this guy wants to make a career change, learn a trade. Something hands-on. If I was graduating high school today, I would look to become a lineman for a power company. Don't focus on salary. Focus on if the ob will be around across the next forty years.
What dose EVERYONE have ... a computer , a phone and a Printer .... Every ofice , every house every desk. No wonder computer jobs are not in demand . Every Third worlder can learn the comoputer " to Code " , and with it being so easy to " Outsource " , HB-1 Visa types
I'm semi-retired in my early 60's. It is extremely difficult to get a basic tradesman to come to my home and do some of the things that are more difficult for a senior person to do. The trades (non-A1 / IT) work will be king over the next decades. Forget the college trap. If you are able-bodied and don't have a chronic medical condition that limits you; do trades.
The railroad industry, especially the class ones (CSX, CPKC, BNSF, NS, CN & UP) have six figure paying jobs in train service with great benefits and a great pension. And generally, you don't have to have a college degree to qualify for RR work. I'm now retired after 37 years in the industry and doing quite well.
@joeswanson733 And it's only taken me 24 years! The current state of things reminds me of back in the day, looking for change to pay for gas, to get to work.
I started as IT engineer back in 2005 at 60k but it took me nearly 15 years to finally to get 100k within the same company through promotions. Best way to get six figures is to look for a new job elsewhere
@@globalfamily8172 Exactly! When I refused the shot mandates (full time remote work for 13 yrs already) they were quick to fire me after 17 years. I realized people are expendable no matter how many years of dedication we give
Yes, you must job hop to get paid fair value for your skills as the General Manager of your business is rewarded on increasing net income which necessitates continual cost cutting including payroll so he is not going to pay you more than the minimum he has to to "make his numbers"
Managing Money is different from accumulating wealth, and the lack of investment education in schools may explain why people struggle to maintain their financial gains. The examples you provided are relevant, and I personally benefited from the market crisis, as I embrace challenging times, while orders tend to avoid them. Well, at least my advisor does too.
Prioritizing effective personal finance management holds greater significance than the sheer amount saved, irrespective of income source. Consulting a certified financial advisor can offer tailored strategies to optimize financial results by reducing expenses and enhancing income, regardless of whether it's earned through employment or investments.
I used to think like you. I thought I knew enough about finance and investing to handle everything myself but then I realize that I was spending too much money and energy on researching, analyzing, and monitoring my finances. I was also overwhelmed by the amount of information and options available. I decided to hire a finance advisor and it was one of the best decisions I ever made. They saved me a lot of time and money, and give me peace of mind.
This is huge! think you can point me towards the direction of your advisor? been looking at advisory management myself.. seeking ways to invest and make more money with the uncertainty in the economy.
My CFA ’’ Sharon Ann Meny, a renowned figure in her line of work. I recommend researching her credentials further. She has many years of experience and is a valuable resource for anyone looking to navigate the financial market..
I just googled her and I'm really impressed with her credentials; I reached out to her since I need all the assistance I can get. I just scheduled a caII.
How about majority of people just being absolutely terrible with their money! RECORD TRAVELING, RECORD holiday spending, record sporting event spending. Record concert attendance and so on and so on! Its a joke to blame inflation or whatever excuse you want to use.
Let's be fair. Inflation IS part of it, especially rents and home prices. But yeah, people do suck with money. Sucking with money is the default. Everyone should just assume they suck at money and then work from there.
Good advice from Michael at 07:10 - my son dropped out of college and - based on his good math skills - became a trained, licensed electrician and makes around $100,000 a year. No crack of a whip in the background, modern machinery (lifts etc.) and if components for the day's task are missing he's not to blame - the foreman is! And when he leaves for the day he leaves his work behind - a free spirit! Also applying for a job is much easier for trained electricians/plumbers - you apply with you competencies and cv. No bullshit multiple interviews 🙂
My professional friends would laugh at you. Most of them earn over a million yearly. Those who own their firms make 10x that. Don't be fooled kids, education matter$.
I got a 2 year AA degree with very little debt. Had 3 jobs while I was in college. Parking cars, auto mechanic, marina work. Hard work + college classes. My first “professional” job my boss told me to “forget everything I learned in school, your real learning starts now. College did its job and got you a job, other than that it’s useless.” I worked hard and learned. Busted my ass. Didn’t go out and party and spend money like an idiot. Just worked. I eventually started my own business and retired a multi millionaire. Nothing replaces hard work, and that’s the truth. There are no shortcuts. No get rich quick schemes that actually work. Live below your means, work hard, save and invest. Keep up the great “common sense” videos Michael!
Congrats and thanks for telling us your story. Becoming a millionaire is not glamorous. It’s dirty hands from working hard and a life of delayed gratification.
Yep. the formula is really easy. people don't really want to hear it though because everything you described involves delayed gratification and things that aren't fun.
@@dearhumanityihaveaquestion timing has nothing to do with it. Sacking away 25% of your paycheck is the “secret”. Do that for 25 years and you’ll be a millionaire too
@@jimbobjim2310 Let me guess...you bought a home prior to 2021 and don't have to put 60% of your income toward rent alone? Could not be more disgusted with humanity right now and the fact that people think they deserve insane profit yields while people like myself can barely live due to the absurd costs handed to us by our very kind, loving, and definitely not greedy elder humans....
62, never made even 35. Now own two paid off homes one in United States one in Mexico. When I retire in 3 to 5 years and take my Social Security, I’m going to sell my house in United States because it’s too expensive to own a home in the US and buy somewhere in the Mediterranean. use both homes as rentals depending on which one I’m living in at the time. Loving life to the fullest. You can’t do it if you’re a cheap ass like me and I haven’t had a car in four years and I don’t spend like an American drunken sailor. Zero debt.
We're gonna see a problem in the next 10-20 years due to overflow of people going into the trades as gen alpha get to working age where people are telling them to go into the trades
I can't recommend a skilled trade enough. People seem to be caught in black/white movies with tradespeople wearing boilersuits doing backbreaking work. It's not like that any more. So do it and wave goodbye to ridiculous multiple job interviews.
The median personal income in the United States is around $60K a year. That means half the country makes less than $60K. So $50K is not that unusual or pitiful.
That's not a whole lot above minimum wage. The standard work year is 2080 hours (52 weeks x 40 hour week). $100K isn't really that much money today AFTER taxes if you have a mortgage, car loan, and student loans.
@@MrRacket991 I have an employee who started out at $15/hr then $17, then $21, then recently $23 and now $25. He is just as broke as when he first began. I ask him why he doesn’t save $$ and he says “I worked for it I’m gonna spend it!!” Honesty I doubt he has $500 saved and he is 39. But he has quite the wardrobe with all the designer tags. He looks like a million bucks when he is off work. Bling bling!!!
@@MrRacket991 It's pitiful because the average cost of a home means way too many of us don't even come close to qualifying and have to give the majority of our income to rent. Winning the lotto our only hope for a proper home? Infuriating...
@@Shadow_Banned_Conservative If you make 100k you should never have a car loan to begin with. People make stupid financial decisions and think they're entitled to prosperity, what a joke.
My wife works at a credit union and she was telling me how she was processing an auto loan or something for a lady who is 80, shaking with anxiety, and doesn't have a house..... Sad a hell. She said the lady is still working I think.
Michael, if you would like my 2 cents , or even if you don’t, I look forward to your almost daily blogs every day. Twenty two minute videos is about the right amount of time for one. Your occasional 40 to 45 minute videos is too drawn out and becomes redundant. And I never watch anyone’s live chats. I refuse to spend 2 hours listening to someone saying “howdy “ to everyone who just joined their chat.
Some highbrow live chats are good to just skip to the comments. The problem is ***tube, at the direction of the ADL, makes the Roman censors look like renaissance philosophers. So good luck exchanging ideas on anything meaningful. ***tube has likely blocked every single interesting comment.
The problem of the ridiculous sky high cost of college is that government got involved by guaranteeing student loans. Before the government got involved, college was relatively inexpensive. Back in the middle of the twentieth century people could actually pay for college with work they did during the summer. When government started guaranteeing student loans, the colleges started increasing their cost. Why would they care about the increase in cost?! The government is guaranteeing the loans! No matter what the cost, the colleges will be paid. The students going into deep debt, oh well that’s their problem.
You should be able to get rid of student loans in bankruptcy. It would force bankers to look at the ROI of the degree so they won’t take a loss. Gender studies and liberal arts BS would disappear very quickly or they would be reserved for rich kids.
@@arfrey5466 I disagree. The borrower should do their due diligence on the degree they are pursuing and going into debt for. You don't go into $100k of educational debt for a job that tops out at $50k.
Yep I work service industry in a vary wealthy part of Florida and Millionaires love to cry about how expensive 4 European vacations cost and how excited they Trump is going to cut their taxes because they are broke meanwhile I make 40k and pay 32% tax rate last year. No retirement no medical benefits in Hospitality
The refinery I work at just posted a notice accepting applications for unit operators, starting pay $45+/hour. There are lots of jobs out there where you can make GREAT money without a college degree.
If it was anything like in Houston 30 years ago, the waiting list was over a year for the 2-3 institutions in the Houston area that licensed or trained operators... Again, Nepotism is huge in this business... If you are not born into it or highly connected in the modern era or a minority who is as dumb as all get out, stick a fork in it...
A good STEM degree from a good technical college is still worth the money if you do it when you are young. Starting out with a good degree and building real experience is still going to be a good move (paying off the loans was tough). Engineers that can actually do the job will be in demand. I stumbled by chance on the C programing language and my EE degree made it perfect for embedded product development. It's tough sometimes but I have had a pretty good career overall (there are always ah's). I interviewed a young guy the other day that spent years as a Firmware Test Engineer and he didn't build any real skills, he just showed up and did basically data entry level work. You have to build real skills especially as you age. You have to be focused, but today it's hard to find bedrock to build on. You have to keep your skills relevant, it's not that hard to read/study 1 hour per day.
I totally agree with you. This guy should not be taking out another student loan to fund another career choice. He should just get a side job to add to his current income. In this economy there are already people who have this degree with experience on top of that, waiting to land a job. Many companies are laying off. He should be happy he has an income.
7:26 Trades are not easy. I was an electrician apprentice.climbing ladders all day with heavy tools in half-built houses during winter. You gotta be fairly smart too.
@@robertmanley2687 More than just breathing, have a childless woman 17 years younger I. Also am an old wrinkled veteran and having a good time. Very little money from SS but have managed better than most. Semi retired at 55, fully retired at 65. I'm a little bored, might go back to work for some thing to pass the time.
@@Mr.Helper. BOOMER, I live in poverty, Less than 20,000 a year. My girl works hard seems like all the time. We are not married. I don't pay her way, she pays her own way I keep my money by debt free living for 17 years. Drive an old truck of twenty five years and an old car of sixty years. Times are tough, they've been hard before. Living a frugal lifestyle seems all my life, Nothing new. and I'm content
@@bobbiecrider6964 Darned ‼️🤔 There are plenty of things to do and enjoying life without going back to work / suffering‼️Being creative will occupy the rest of your life 💡‼️
The 1% of rich Americans think of how to invest their money to increase their wealth during the recession. While the 99% of struggling hard-luck Americans think of how to survive without food and daily necessities in the recession and the coming hyperinflation. I am just about to make my first index fund purchase via vanguard. I intend to invest long term. just getting slightly stuck on how I balance my percentage portfolio between equity vs bonds. Low risk is good for me. Any tips
You are absolutely right ,firstly I believe money in the bank is not money because it is bond to inflation and losses values overtime, You have to be well disciplined to achieve success and save before you spend Lastly success does not happen overnight it takes time, dedication and self discipline
money is a liability, not an asset. You have to exchange it for assets that represent real VALUE. Real estate - properties for rent. Stocks (dividends). Bonds (interest), funds, REITs (interest), intellectual property, The aid of an institutional or basic financial advisor's cannot be over expressed. I started saving and investing in 1989 at the age of 20... I am 54 today and have 2.2 million in my retirement account, 135k liquid and I trade securities with 50-55k
There are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with ‘’Stacy Lynn Staples’’ for about five years now, and her performance has been consistently impressive. She’s quite known in her field, look-her up.
My daughter decided halfway into her freshman year she didn’t want to go to college. We discussed it and she stated she wanted to travel. Okay what kind of job could she get that would afford her the time off and income for world travel. She decided on a one year massage therapy program, took a job in a CO ski resort working long hard hours during ski season making good money, living frugally and backpacking a few months of the year. She did this for 15 years until she married and had a child in her late 30s. She still does limited massage setting her hours around child responsibilities and stays off schedule during summers and school vacations. Wasn’t the life I had in mind but she’s content. She would never have been happy with a 9-5. I am proud that she took charge of her choices and took a different path.
Oh my gosh that's so inspiring. People end up in jobs that they hate and only live a half of a life but she lived a full life it sounds like. Bravo for her!
Get a job in Congress $184,000 to start,you can be a complete failure,no work history and/or a worthless degree and 20 years later you're a millionaire and only 40, easy peasy!!!
Thanks for sharing your daughter’s story and congratulations on your grandchild. I’d add though that how she ended up wouldn’t ordinarily pay for a family unfortunately. I assume her husband has an income too and they get by ok. I’m glad it worked out for her this way, but unfortunately it might not be a viable option to everyone. Nowadays in most cases 2 steady, full time median incomes are needed to have children and support them appropriately.
@@MsJustice4ever Without a pile of unnecessary debt it’s amazing how well you can live. They’re a very active outdoorsy family and seem financially stable. Who knows though..I stay out of other’s business unless asked for advice.
I’m gonna turn 55 in January. Dropped out of high school when I was a kid. Not a good decision. Got into the Carpenters Union in Chicago in 1990. Did that for 20 years. Got into a new apprenticeship in 2007. The Great Recession. Held two union cards for a bit. Went from making $40/hr back down to $10/hr as a Stationary Engineer apprentice. Lost everything. Now I’m living in Mexico , Thailand , Albania. Lost 20 pounds. Gonna start collecting my two pensions when I run out of my savings. Made $1 million more in my lifetime than the AVERAGE college grad will in his lifetime.With no college loan debt . You can make $50/hr digging a hole in the Laborers Union in Chicago. But you got to work hard for the cash. Or get a digital nomad skill. Move to Mexico. You’re better off making 40k a year in Guadalajara than 80k in LA , Chicago or NYC College grads look down on tradesman. In fact the reason they went to college was to NOT work with their hands. No matter what the pay is.
You sir genius. It's not your choice of trade but the fact you choose counties with moderate weather, have breaches, good infrastructure and have affordable cost of living is amazing.
As long as you enjoy making the videos I’ll keep watching them. I’m mostly interested in your economic, financial and real estate subjects but, honestly, you could grace us with the soothing sounds of Micheal Bordenero with great scenery in the background and talk about chopsticks.
Listen not everyone can be rich. That said I’m old (60+) and still work physically and mentally hard 70-80 hrs a week cause I love what I do… I make a good living (no college degree) and have done so since 18. I suggest working hard, long hours but most importantly do what you love and don’t follow the sheep mentality…
Builder/heavy contractor/rehabber/flipper/landlord/service business owner (2). Soon to be large raw land owner (north east) to which I will be building my forever small cabin to which I will visit very frequently for next 10 years till semi retirement while living in NJ. I’ve owned and lived in approx 20 homes and worked for private equity firms touching nearly 1900 yes nineteen hundred homes in 2019/2020.
I strongly advise a new high school grad to join the military for 3-4 years. You will become a responsible adult. All you must do is keep your mouth shut and do as you're told. The military offers good technical training in many different fields. You can pick your field. After discharge, the VA will pay your college expenses. Employers prefer to hire veterans.
My son "threatened" to join the Navy thinking I'd be freaked out. "Well it's the safest sector of the military & the only job you can do for 20 years & retire with a pension in your 30's with at least one trade certificate". He moved to Thailand & became a flight instructor.
It’s a class issue Mike. People with college degrees now feel that they are in a different “ class “ than blue collar workers. Honestly, I am a massage therapist. I work 36 hours per week and make 75k Not counting extra cash tips. If I work a little more each week I would make 6 figures myself. I know plenty of massage therapist, plumbers, electricians, lawn care workers, spray washing workers all making 6 figures Yet the front desk girls at my office work 3 jobs and go to school and make maybe 30k per year all because they think they are too good to do a blue collar job like myself. They constantly complain and moan about not making enough money and they get horribly jealous looking at our tips, all the while knowing that the Owners would pay for them to get an LMT education lock stock and barrel tomorrow and in 8 months they could be making 75k debt free. But of course they’d have to get their hands dirty
They did me! I had a college degree that went nowhere for 20 years before I finally got smart and went back to a medical technician program for 1 year with no debt. Made a six-figure income within 24 months. I was in my late 40s. You just got to jump in.
Agreed... Sierra got lucky... I finished 2nd B.S. at 57 and not that I expected anything, but did not have a smidgeon of opportunity in my chosen field... Pack it on, go rogue, and await the collapse....
Am 58 retiring next year but the thought of retirement gives me weakness. My apologies to everyone who have retired and filing social security during this time after putting in all those years of work just to lose everything to a problem you never imagined to happen. It’s so difficult for people who are retired and have no savings or loved ones to fall back on.
If you need advice, consider speaking with a financial advisor. Don't get me wrong, you can do it on your own, but financial advisors have a lot more knowledge and expertise in this area.
you are completely right, Advisors have information and paths that are not disclosed to the public.. I profited $560k in 2023 under the tutelage of my Fiduciary-counselor. Am I selling? Absolutely not.. I am going to sit back and observe how this all plays out.
I just googled her and I'm really impressed with her credentials; I reached out to her since I need all the assistance I can get. I just scheduled a caII.
My husband died after a fairly short but very expensive illness. Despite good medical insurance, extreme life saving measures were not covered. These bills were in the tens of thousands. The debt collection phone calls I started to receive was a deciding factor in leaving that state and moving clear cross country.
Thank you Michael for sharing you experience and knowledge with us. I really appreciate how you break things down into a way that is more digestible. Also enjoy the beautiful areas you share with is.
The problem of going back to school at 38 is by the time you graduate, you will be of the age when it is difficult to get hired, because people in their late 40s and above cost too much
When I FIRST STARTED FOLLOWING YOU (and it has been SO DELIGHFUL - I must say) the FIRST THING THAT CAME TO MY MIND is that your "VIGOROUS, UA-cam postings will lead to BURN OUT. WHAT IS SO DELIGHTFUL about your videos is YOUR DELIGHT IN DOING THEM which makes them SO HIGHLY ENJOYABLE: that's THE KEY SPICE in making your videos SO ENTERTAINING + A DELIGHT TO WATH. BASICALLY, you have "a good time", we have a good time too! Vary your schedule to giving yourself "some breathing space" is A GREAT IDEA at "your discretion + pleasure" OF COURSE. (Ha! Ha!) Ken, Toronto, CANADA
I have a friend with no college degree who was making six figures (about 200k), then got laid off. When he applied elsewhere, they rejected him for not having a college degree.
There is a difference between living and surviving. As someone who grew up in poverty, I’d want more for my children, and so I do. That’s why we only had 2 kids, not 5. But each to their own.
@MsJustice4ever my children don't go without, we are doing fine. People spend excessively and on frivolous shit nobody needs. Then it breaks, and you buy it again... The consumerism is consuming the people of this country and it's not sustainable at all... My comment wasn't about my family or yours- but the main focus was "live within your means" And that's not even touching the second part that he mentioned later in this video, talking about investors basically only building luxury properties- who can buy them? Apparently nobody in the cities, and here in the smaller parts of the US, those go unrented... I'm really curious if we are gonna have places like in China, full of empty buildings...
@@jjones3566 it's not mean. it's just true. find a way to live on no more than 80% of what you make. live at home, get a roommate(s), work more hours, take fewer vacations...whatever it takes.
Degrees are a joke. Unless you're an attorney or doctor I fail to see the point since 99% are functionally useless in the workplace. We as a nation need to normalize putting the "paper ceiling"" out to pasture.
Because they needed an easy way to sift for smarter corporate workers. Now, they've destroyed the value of degrees due to students becoming customers making it much easier as well as flooding the market with supply
I’m a dental hygienist and make 44$ an hour and I’m broke too! This shit makes me miserable and who wants a miserable dental hygienist? If someone told me this job wouldn’t pay my bills in 19 years I’d have gone into finance. Who wants to help people when it keeps you poor? My job is extremely stressful, & physically demanding for me to not be able to have healthcare or even take time off. I’m now looking into a diff way to make ME money bc I’m done making other people rich to get nothing in return. And it’s sad too bc I’m very good at what I do and enjoy making people feel comfortable at the dentist. This will become something you’ll see w nurses too. Healthcare will get worse and worse bc the country only cares about greed. Sorry for the rant. 😊
my uncle passed and owed 150k on his home with an ARM of 30k he did not put anyone on the will for the house, it's going back to the bank. he was broke had 40.00 in his checking when he died.
😊 No worries, Michael. We really didn't think you made $50k and are dead broke, so the title didn't really throw anyone. Good to clarify, nevertheless. 😊 We don't have enough people going into the trades (especially), so I would not necessarily focus on college ($$$) for young people these days. Trade school costs less, and jobs there pay well and are way more in demand right now.
No way... construction.. plumbing.. electrical.. roofing..auto mechanics..tire shop... alignment shop....truck driver...on and on and on..are all worthless trades because every poncho is willing to do them for peanuts...go to school..get an education...don't compete with poncho for a job..
On Year 6 of owning our plumbing company. I am now 31yo and employ 3 young men who are well on their way to making $80k in an inexpensive small southern Oregon town. If i can do it anyone can. People like mattg just like making excuses and acting like a victim. Plumbing is a great option for anyone who isn't afraid of a little hard work. Happy Thanksgiving
So you wouldn't stoop so low as to do the dirty work a plumber needs to do and yet I bet you are first to scream blue murder if a plumber charges what they deserve to do your dirty work. Hypocrisy. There is absolutely nothing wrong with doing honest trades work.
I'm 39, make 93k/year, live comfortably with my husband and 2 kids, but am still improving my finances and paying down my debts, and work in the Safety profession (which is booming and in need of fresh talent). I worked in Education for over 5 years before getting my MS in Occupational Safety and Health while working full-time, graduated Magna Cum Laude, and did a complete career change 5 years ago to get to where I am now. It CAN be done, you just need the right field and drive to succeed!❤
My outlook on money changed when I realized someone making $300,000 can retire broke & someone making $80,000 can retire a multi-millionaire. With the current market movement, you have $60k to invest. Where are you investing it?
I believe a healthy portfolio has 3 things, at the bare minimum: Exposure to ETFs for increased diversification, Exposure to assets that generate cash flow like dividend stocks, Exposure to market-leading tech.
Bitcoin through 2025, then high yield ETFs through the bear market 26’-27’ that's my plan. Remember to always work with a financial advisor when starting out to avoid being exit liquidity.
I’m working towards financial freedom with a focus on dividends & growth investing. Since 2014, I’ve built a portfolio made up of 50% SCHD, 25% SCHG, and 25% VOO, thanks to my CFA. This strategy has helped me earn $36,000 a year in dividends. Back in 2014, I only earned $21 in dividends.
I’m not sure how I found your videos, but I like them. I don’t watch TV. Only podcasts for news and world events. I’m going to be 59 next week and have been a RN for 36 years. I still work part time. I’ve traveled throughout the US and my daughter lived in Santa Barbara for 7 years (I LOVED Santa Barbara). Anyway, the length of your videos is perfect! I enjoy the content and scenery. I live in Michigan….. so I travel a lot during the winter months. Not a fan of winter at this age! Blessings to you. ❤
My husband is HVAC in Texas. He made 50k last year his fifth year in the trade. So no most tradesmen don't make six figures. You have to be doing something specialized in high demand with many years experience.
@@120weapons I know of people in HVAC getting paid 50k or less. I ask what are you exactly doing and the reply is "just changing filters". I ignore any complaints about pay after that.
I’m a federal employee that took 25 years to get to 100k in base salary. I started in 1998 at just 21k a year. I’m 55 now and plan to work until at least 62. My children are still young and living at home so retiring early is out of the question unless I win the lottery. But life is good and my wife also works so we are doing well overall.
Im 33 making 50 - 60k/year and ive never been so content with my life. Owning 4 cars and 70k left on mortgage on 2 acres of land 35 miles outside of the city. Life is easy.
I went into truck driving 5 years ago. 4k for CDL school and then went to Schneider for more training and made over 50k my first year. They reimbursed me $3200 of my CDL school and I moved on after 16 months. I made 100k ever since with smaller companies
Unfortunately, in our current economic climate six figures just barely gives you a little breathing room and that still depends on how much debt load you are carrying which is pretty substantial for the vast majority of people.
I got my RN over 30yrs ago. I’ve retired but I’m hesitant to give up my license. The current situation as it is, if I needed a few extra bucks, I could come out of retirement part time.
Absolutely - besides a lot of other advantages you will also become a "free agent" who can move to other states without fears of unemployment. Good plumbers and electricians are in demand everywhere 🙂And remember: getting a collage degree you may end up doing an unrelated crap job - becoming a skilled electrician or plumber means you will work as such!
I LOVE your sun glasses reflecting the water and the shoreline with palm trees. Super cool! Besides that, I love even more your point of view on how to deal with finances. Pure common sense. ❤️
I went to High School in the late 70s, the "college craze" hadn't started yet. Many already worked part time in restaurants, etc. College was just for the few with wealthy parents and you didn't need it for most jobs. Many of the girls were looking to settle down and have a family, not to spend years on some campus and later on a career and, most likely, a broken home. Many guys were just into their cars, smoking pot and what not. There were jobs around, housing wasn't "crap expensive" or such a big deal and Miami certainly didn't look like in this vid. If you got a girl pregnant you'd take your responsibility and pop the question, sure money would be tight for the first couple of years, but as long as it worked between you, it would work out. Today it seems many don't even go for family, some have kids and move on, away from each other when the kids are still small or sometimes even before a kid is born. Most college educated ladies though, they wait until they're in their 30s before they have a family, well it don't make it last much longer though, since divorces or separations are quite common among most parents today. Many ladies today seem to feel that a college degree is so important, way more than having a family, or that a family is a single mom with kids, guys are not needed much anymore, in that sense. And of course, you have a lot of mental issues in such a socitety coupled with materialism and ppl take on way to much debt since they think spending money'll make 'em happy. It's not. In High school it used to be when you had a date or hung out with your friends, it meant way more than any class or college application. What makes the kids "tick" now, social media I guess, we're on the wrong track.
I really like your constant videos they are very encouraging and informative.. It's very obvious that you put a lot of work into these.. Talking about real life financial hardships for people who are not earning a lot but also have not been frivolous just victims of life circumstances is it's very enlightening
My local community college offers a HVAC degree in 18 months. The tech program can be had in 9 months. The difference is that the associates degree gives you the knowledge and skills to start your own business. That's where the real $$$ is; working for yourself.
I believe most of us parents have that same fear, many of today’s young generation had it to easy coming up and don’t realize what they have and assume it’ll always be there.
I can almost guarantee that there won't be any student loan forgiveness for the next 4 years....Wooooo-hoooo! Thank you for another great video Michael
No to schooling//learn a skill that pays [possibly be mentored by someone] - anything from plumbing to window installation//does he have a talent or ability? Think he needs to get wife to work too and reduce costs. You can learn skills w/a computer [my relative learned animation by using the computer's info]. Mike has good advice.
$13k a month for a 878 sq ft condo reeks of a building built with the sole purpose of foreign investors parking their money in assets overseas. And sometimes ill-gotten money. Another reason we need legislation to ban foreign buyers
Glad you're happy NOT saving much for your retirement and for your kids' university education or vocational training. Not good financial planning or parenting.
@nomadnationalist2776 Great both planning and parenting. Both my kids have 2 citizenships upon birth. It is an asset by default. They are also both bilingual. They can get free university education in their second country. Or my mother can pay for their university education here in the US, etc.
You must be a Kommiela supporter, one of those judgmental folks that believe they know best how other people live their lives. A parent has no obligation to finance a child’s college education, that’s a gift if they contribute. Also, if a persons happy that’s great, no guarantee of tomorrow, let alone retirement. Also, sounds like they’re fine at $50k while working, so if they are fortunate enough to make it to retirement social security would probably be enough to get by on.@@nomadnationalist2776
@@PermanentResidentCardHolder wow. Expecting your mother to pay for YOUR children’s anything is something else. It’s nice if you get anything as a gift but to expect college fees? Wow. You’re an entitled and irresponsible individual. @nomadnationalist2776 is right.
Someone I know, just graduated with degree in marketing or simlar. They got their first real job. It pays $45K. A bit low but they do get a lot of paid vacation, something like 22 days. It's in a low-cost area of the US so its not too bad over all.
My analysis of your person who wrote in: He's got a nice upper-middle class job now. At 38, he has plenty of time to reach lower-upper class at $100k per year by the time he's 50 or so. If he's dead broke, I assume it's because he's spending a huge chunk of it on student loans, since $50k is plenty to live on while putting away at least 1/4 of the income towards saving for retirement. I wouldn't waste money on more college, which doesn't guarantee a doubling of income, and he's in pretty good shape as it is. I would pay off the existing debt as quickly as possible and just live easy on that $50k after that.
"We LOST EVERYTHING" FLORIDA Citizens Insurance REJECTIONS SKYROCKET! ua-cam.com/video/x8G8zHkcOng/v-deo.html
As for number 2 on that list, it's the reason I shorted a 3x leveraged financial ETF because I think the new administration will cause more problems in the financial sector by the end of the four year term. Sure, things will look pretty for the financial industry the first year or two, but they always end up eating themselves then beg for a bailout when an economic crash happens. I can't say the name of the ETF because youtube keeps cenoring the comment LOL
@@henrythegreatamerican8136you are going to lose lots of money 💰
LOL youtube deleted my first comment. Let's see if it sticks after rewriting it:
I just read "The Fed's twice yearly Financial Stability Report." Two things that caught my eye:
1. Asset valuation pressures are "elevated," though corporate bond spreads remain low; business and household debt risks are considered "moderate."
Liquidity conditions in the Treasury cash market appear challenged and could amplify shocks.
2. Financial sector leverage vulnerabilities remain notable, with hedge fund leverage near the highest levels since 2013.
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It's safe to say most people don't even know about that report let alone read it. And it states exactly what I've been saying is the problem with the country right now.... ASSET PRICES ARE ELEVATED. I've also been saying it in your videos. It is the main reason for inflation over long periods of time. And the only real solution is a wealth tax on assets whether the asset is sold or not. Make it so the tax only affects those owning more than $10 million in assets so it doesn't mess with people owning a small home or a small business. And no, it's not punishing success to create a proper wealth tax. Don't go there.
I just read "The Fed's twice yearly Financial Stability Report." Two things that caught my eye:
1. Asset valuation pressures are "elevated," though corporate bond spreads remain low; business and household debt risks are considered "moderate."
Liquidity conditions in the Treasury cash market appear challenged and could amplify shocks.
2. Financial sector leverage vulnerabilities remain notable, with hedge fund leverage near the highest levels since 2013.
---------------------------------------------------
It's safe to say most people don't even know about that report let alone read it. And it states exactly what I've been saying is the problem with the country right now. ASSET PRICES ARE ELEVATED. I've also been saying it in your videos. It is the main reason for inflation over long periods of time. And the only real solution is a wealth tax on assets whether the asset is sold or not. Make it so the tax only affects those owning more than $10 million in assets so it doesn't touch regular people owning a small home or a small business.
Okay, no clue why youtube kept cesnoring my comment, but here is the dry boring version: The Federal Reserve's recent Financial Stability Report highlights two key points:
1. Asset valuation pressures are elevated, with corporate bond spreads remaining low. Business and household debt risks are considered moderate. Treasury cash market liquidity conditions appear challenged and could potentially amplify shocks14.
2. Financial sector leverage vulnerabilities are notable, with hedge fund leverage near the highest levels observed since data collection began.
These findings align with concerns about elevated asset prices, which can contribute to long-term inflation. A potential solution to address this issue could be implementing a wealth tax on assets exceeding a certain threshold, such as $10 million, to target individuals with significant wealth without affecting average homeowners or small business owners
I'm favoured only God knows how much I praise Him, $230k every 4weeks! I now have a big mansion and can now afford anything and also support God’s work and the church.
Only God knows how much grateful i am. After so much struggles I now own a new house and my family is happy once again everything is finally falling into place!!
Wow that's huge, how do you make that much monthly?
I'm 37 and have been looking for ways to be successful, please how??
It's Ms. Evelyn Vera doing, she's changed my life.
I started pretty low, though, $5000 thereabouts. The return came massive. Joey is in school doing well, telling me of new friends he's meeting in school. Thank you Evelyn Vera, you're a miracle.
I make 100k a year doing asphalt work and traveling in the Colorado Rockies, paid winters off and no degree required.
Theres absolutely no competition and no one wants it but its hard sweaty dirty work.
My gold stack appreciates it.
That's awesome!
Hell yeah. Unfortunately, a lot of people don't want to work a sweaty job. I did concrete work for a while when I was younger and it could be tough work in the heat, but I did pretty well.
Great job and well done for taking on the task.😊 gold up and up
People just don't want to do anything but complain about the problems they caused themselves. I maxed out at $80k a year, half CASH, during the pandemic years, and these people can't make crap with 8 years of 'school' under their belt. It's pretty obvious that education, birth place, and everything everyone else wants to complain about hindering them is 100% irrelevant.
BZ!
❤ I make less than 30,000 a year and I am not broke. I am debt-free. I am a minimalist and I live very well.
It's great if you can do that, most people can't. I'm in the $150K a year category, have zero debt and while I'm comfortable, expenses (taxes, insurance, food) cost a lot more than most people realize.
When I retire soon, I'll likely move away to an area that is very low cost. $30k a year I don't think I could even live on today, I think my health insurance alone would cost more than that!
It depends on your geographic location...Iowa is affordable.
Same
Me two it's not hard mother nature costs nothing 😂
I'm 72, receive $11,000+ (!!!), have good credit and I'm debt free. Somehow, I live under my means.
Keeping up with everyone else is financial suicide.
I went to a community college at age 31 with two little kids. Got an Associates degree in Paralegal studies. I had to work for some pretty crappy law firms starting out, but stuck with it and ended my career as a judicial assistant for a US District Court Judge. Not bad for a little community college degree, but I worked long hours, sometimes weekends. I worked my ass off to get there!
Most of the time it seems sticking out maybe 4 years with a shitty company is usually the key to success really. Seems like a gateway of achieving anything over average
To attain upper-class wealth, a wise individual recognizes that building financial success requires smart investments, strategic tax planning, and informed decision-making. Although the stock market offers growth potential, effectively seizing these opportunities demands both skill and expertise.
Stock investments can offer great potential, but it's essential to approach them with caution. I recommend consulting a financial advisor who can help you determine the optimal times to buy and sell.
Accurate asset allocation is crucial. Some use hedging or defensive assets in their portfolio for market downturns. Seeking financial advice is vital. This approach has kept me financially secure for over five years, with a return on investment of nearly $1 million.
How can I reach this advisor of yours? because I'm seeking for a more effective investment approach on my savings
Finding financial advisors like Sophia Maurine Lanting who can assist you shape your portfolio would be a very creative option. There will be difficult times ahead, and prudent personal money management will be essential to navigating them.
Found her online page by searching her full name, I wrote her an email and scheduled a call, hopefully she responds.
I worked as a laborer in the Trades for decades for modest pay.
Even with just a high school diploma, it has allowed me to learn a wide range of skills which have become valuable.
I now manage high end private residences and have been grossing around $200k for several years.
Volunteering locally has earned respect of others in my community. This has opened MANY doors of opportunity that i never expected to see.
Get involved with your community with no expectations of compensation, and you may be surprised at what may present itself.
Don’t forget about JFK
you have my respect sir. your hard work is admirable. need more people like you.
Hey did you know the NFL = WWE?
Also do me a favor and look up Jack Parsons for me, did you know NASA and Scientology are connected?
BRAVO to You...
@@grumpy1311 Trust is priceless!
My wife is 55 years old. She didn't even graduate from high school. She got her GED. She manages two big auto part warehouses. She makes about 130 grand a year. You don't need a college education to make some decent money. What you need is some common sense and a brain.
she is a success story
Your wife is very very very lucky ...
Very true! I graduated high school by the skin of my teeth. I now make 160K a year with no college education. Furthering your education does not make you a smarter person.
I disagree but good for her
@ not to be argumentative, but why do you disagree? I would really like to understand this?
"Humanities and Social Sciences?" Houston, we have found the problem.
That can even be psychology can’t it?
@@esthera92 it’s not. that would be listed as a bachelor of art or bachelor of science in physics psychology.
@@pabloescobarschanclas but no one gets a humanities and social sciences bachelors. Humanities and social sciences is the category of study I think. So they’re not completely useless. He may have studied English or sociology or history. Degrees where jobs are scarce.
@@esthera92It’s a degree towards a higher degree, almost all doctorates. Doctorate of Law is very popular, as is Doctorate of Psychology, etc. what I would do right now, if I was that person, is get a 18-24 month Masters of Healthcare Management. With all the boomers in the end phase, Management at any level in the Nursing Home field is a hot commodity for employment right now. They frequently just put in Masters of Business people because they can’t find enough Masters in healthcare management graduates. 🤗
@@esthera92 a masters in psych can get you job security if you counsel.
In my opinion, almost every video on this channel is a banger and serves a relevant educational purpose about the economy and general news. Keep it up!
I am retired. When I graduated high school back in 1973, I decided to enlist in the Air Force for six years in return for guaranteed training in computer repair. At age 24, I got out of the military and immediately found a job doing field service on computers since I had training and job experience. Over the years, I made the pivot into software from hardware repair and retired as an IT manager doing development and operations for eCommerce systems for a Fortune 100 company. I strongly believe that today, it is impossible to get your foot in the door without a college degree even with military experience. Not because it adds value but because it filters down the volume of job applicants. There are too many people chasing too few jobs in IT. If this guy wants to make a career change, learn a trade. Something hands-on. If I was graduating high school today, I would look to become a lineman for a power company. Don't focus on salary. Focus on if the ob will be around across the next forty years.
What dose EVERYONE have ... a computer , a phone and a Printer .... Every ofice , every house every desk. No wonder computer jobs are not in demand . Every Third worlder can learn the comoputer " to Code " , and with it being so easy to " Outsource " , HB-1 Visa types
You are 200% right!
Right. Find a job that can't be outsourced or accomplished by AI.
I'm semi-retired in my early 60's. It is extremely difficult to get a basic tradesman to come to my home and do some of the things that are more difficult for a senior person to do. The trades (non-A1 / IT) work will be king over the next decades. Forget the college trap. If you are able-bodied and don't have a chronic medical condition that limits you; do trades.
The railroad industry, especially the class ones (CSX, CPKC, BNSF, NS, CN & UP) have six figure paying jobs in train service with great benefits and a great pension. And generally, you don't have to have a college degree to qualify for RR work. I'm now retired after 37 years in the industry and doing quite well.
Im 37, make 75K and im dead broke too. The price of EVERYTHING has increased by 30% over the last 4 years. My pay has definitely not increased by 30%.
At least you make $75k that's above average
@joeswanson733 And it's only taken me 24 years! The current state of things reminds me of back in the day, looking for change to pay for gas, to get to work.
Well live below your means, invest your money and play broke for 5 years otherwise your situation will never change. It’s your spending habits
What have you been doing all your life? 😂
How much is your rent/mortgage ?
The water looks so beautiful. So nice. Thanks for taking us along. ❤
Michael has an overblown ego.
I started as IT engineer back in 2005 at 60k but it took me nearly 15 years to finally to get 100k within the same company through promotions. Best way to get six figures is to look for a new job elsewhere
AGREED. Loyalty will get you nowhere
@@globalfamily8172 Exactly! When I refused the shot mandates (full time remote work for 13 yrs already) they were quick to fire me after 17 years. I realized people are expendable no matter how many years of dedication we give
60k in 2005 is actually REALLY good.
@@SouthSideJuni My friends were making 100k in 2000. They are now being laid off.
Yes, you must job hop to get paid fair value for your skills as the General Manager of your business is rewarded on increasing net income which necessitates continual cost cutting including payroll so he is not going to pay you more than the minimum he has to to "make his numbers"
Hey Michael! Appreciate the work you do. 3-4 videos per week is just enough. Enjoy your life.
Some advice from Thomas Edison that has served me well, "Everything comes to him who hustles while he waits."
Edison had psychopathy and stole a lot of his money. Great advice.😊
@category5productions361 oh, you are smashing a young boys dreams. 🤣🤣🤣
@kevinpratt-ge5ye illusions
Managing Money is different from accumulating wealth, and the lack of investment education in schools may explain why people struggle to maintain their financial gains. The examples you provided are relevant, and I personally benefited from the market crisis, as I embrace challenging times, while orders tend to avoid them. Well, at least my advisor does too.
Prioritizing effective personal finance management holds greater significance than the sheer amount saved, irrespective of income source. Consulting a certified financial advisor can offer tailored strategies to optimize financial results by reducing expenses and enhancing income, regardless of whether it's earned through employment or investments.
I used to think like you. I thought I knew enough about finance and investing to handle everything myself but then I realize that I was spending too much money and energy on researching, analyzing, and monitoring my finances. I was also overwhelmed by the amount of information and options available. I decided to hire a finance advisor and it was one of the best decisions I ever made. They saved me a lot of time and money, and give me peace of mind.
This is huge! think you can point me towards the direction of your advisor? been looking at advisory management myself.. seeking ways to invest and make more money with the uncertainty in the economy.
My CFA ’’ Sharon Ann Meny, a renowned figure in her line of work. I recommend researching her credentials further. She has many years of experience and is a valuable resource for anyone looking to navigate the financial market..
I just googled her and I'm really impressed with her credentials; I reached out to her since I need all the assistance I can get. I just scheduled a caII.
How about majority of people just being absolutely terrible with their money! RECORD TRAVELING, RECORD holiday spending, record sporting event spending. Record concert attendance and so on and so on! Its a joke to blame inflation or whatever excuse you want to use.
Many don't want to do the hard work Get a room mate or rent out a room, take a 2nd job, eat at home it's not fun but it can pay off in the end.
Let's be fair. Inflation IS part of it, especially rents and home prices. But yeah, people do suck with money. Sucking with money is the default. Everyone should just assume they suck at money and then work from there.
Good advice from Michael at 07:10 - my son dropped out of college and - based on his good math skills - became a trained, licensed electrician and makes around $100,000 a year. No crack of a whip in the background, modern machinery (lifts etc.) and if components for the day's task are missing he's not to blame - the foreman is! And when he leaves for the day he leaves his work behind - a free spirit!
Also applying for a job is much easier for trained electricians/plumbers - you apply with you competencies and cv. No bullshit multiple interviews 🙂
I don't get the school bs if you suck with a bachelor's you are going to suck with a masters 😂😂 I have a Ged and make decent money
My professional friends would laugh at you. Most of them earn over a million yearly. Those who own their firms make 10x that. Don't be fooled kids, education matter$.
@AssetAddict neat
Some degrees call for it. I know I can make 6 figures when I get my Master's. Many in my field are and the demand is still high.
@Vinegarissweet agreed I was more thinking of the BD degree Mike mentioned in the video. I wasn't clear.
No matter what your video schedule is, im watching!🎉
I got a 2 year AA degree with very little debt. Had 3 jobs while I was in college. Parking cars, auto mechanic, marina work. Hard work + college classes. My first “professional” job my boss told me to “forget everything I learned in school, your real learning starts now. College did its job and got you a job, other than that it’s useless.” I worked hard and learned. Busted my ass. Didn’t go out and party and spend money like an idiot. Just worked. I eventually started my own business and retired a multi millionaire. Nothing replaces hard work, and that’s the truth. There are no shortcuts. No get rich quick schemes that actually work. Live below your means, work hard, save and invest. Keep up the great “common sense” videos Michael!
Congrats and thanks for telling us your story. Becoming a millionaire is not glamorous. It’s dirty hands from working hard and a life of delayed gratification.
Yep. the formula is really easy. people don't really want to hear it though because everything you described involves delayed gratification and things that aren't fun.
Glad timing worked out for you. Timing is everything. You catch high tide or low tide....
@@dearhumanityihaveaquestion timing has nothing to do with it. Sacking away 25% of your paycheck is the “secret”. Do that for 25 years and you’ll be a millionaire too
@@jimbobjim2310 Let me guess...you bought a home prior to 2021 and don't have to put 60% of your income toward rent alone? Could not be more disgusted with humanity right now and the fact that people think they deserve insane profit yields while people like myself can barely live due to the absurd costs handed to us by our very kind, loving, and definitely not greedy elder humans....
Friday evening and a video from Michael.... It's just wonderful!😊
62, never made even 35. Now own two paid off homes one in United States one in Mexico. When I retire in 3 to 5 years and take my Social Security, I’m going to sell my house in United States because it’s too expensive to own a home in the US and buy somewhere in the Mediterranean. use both homes as rentals depending on which one I’m living in at the time. Loving life to the fullest. You can’t do it if you’re a cheap ass like me and I haven’t had a car in four years and I don’t spend like an American drunken sailor. Zero debt.
You’ve got the game beat. Well done. Thnx for posting.
Nice!
Mexico - cheap! I'd worry about medical care and government stability.
You are doing a great job Michael. Your content is amazing. UA-cam should give you an award 😅
At 267 subs, he's doing OK.....
Maybe it's time to consider a skilled trade? These university degrees are not worth what they used to be.
We're gonna see a problem in the next 10-20 years due to overflow of people going into the trades as gen alpha get to working age where people are telling them to go into the trades
I can't recommend a skilled trade enough. People seem to be caught in black/white movies with tradespeople wearing boilersuits doing backbreaking work. It's not like that any more. So do it and wave goodbye to ridiculous multiple job interviews.
haven't been for 20 years. Unless you want to be a doctor or lawyer.
@@joeswanson733seems to go back and forth like that but ai will definitely wreck through white collar jobs like the industrial automation industry has
When everyone has a Bachelor's degree they're not valuable. The student loan debt only adds to the damage.
The median personal income in the United States is around $60K a year. That means half the country makes less than $60K. So $50K is not that unusual or pitiful.
That's not a whole lot above minimum wage. The standard work year is 2080 hours (52 weeks x 40 hour week). $100K isn't really that much money today AFTER taxes if you have a mortgage, car loan, and student loans.
@@MrRacket991 I have an employee who started out at $15/hr then $17, then $21, then recently $23 and now $25. He is just as broke as when he first began. I ask him why he doesn’t save $$ and he says “I worked for it I’m gonna spend it!!” Honesty I doubt he has $500 saved and he is 39. But he has quite the wardrobe with all the designer tags. He looks like a million bucks when he is off work. Bling bling!!!
@MrRacket991-$30,000 is adequate where I live ,for one person that is. But it takes self-discipline.
@@MrRacket991 It's pitiful because the average cost of a home means way too many of us don't even come close to qualifying and have to give the majority of our income to rent. Winning the lotto our only hope for a proper home? Infuriating...
@@Shadow_Banned_Conservative If you make 100k you should never have a car loan to begin with. People make stupid financial decisions and think they're entitled to prosperity, what a joke.
The rent is too damn high!
same trite comment every time
The taxes the landlord has to pay on the property are too damnhigh, too.
"The rent is too damn high!" is for the algorithm. Thank you for your concern.
Rent a small room, share the room!!
Make sure to tip your landlord.
My wife works at a credit union and she was telling me how she was processing an auto loan or something for a lady who is 80, shaking with anxiety, and doesn't have a house..... Sad a hell. She said the lady is still working I think.
That's very sad.
Nobody knows her history and heartache.. I hope that she was getting a car that she could live in by taking out and putting in a mattress in the back.
Omg 😢 shocking
People aren't just dealt a hand of "80 and broke". You have to make terrible decisions for decades to end up there.
When you think social security will save you this is the result.
Alot of my news is gathered from your channel. Thank you for all you do!! 🙏
Michael, if you would like my 2 cents , or even if you don’t, I look forward to your almost daily blogs every day. Twenty two minute videos is about the right amount of time for one. Your occasional 40 to 45 minute videos is too drawn out and becomes redundant. And I never watch anyone’s live chats. I refuse to spend 2 hours listening to someone saying “howdy “ to everyone who just joined their chat.
Try watching the longer videos at 1.25x or 1.5x
Some highbrow live chats are good to just skip to the comments. The problem is ***tube, at the direction of the ADL, makes the Roman censors look like renaissance philosophers. So good luck exchanging ideas on anything meaningful. ***tube has likely blocked every single interesting comment.
The problem of the ridiculous sky high cost of college is that government got involved by guaranteeing student
loans. Before the government got involved, college was relatively inexpensive. Back in the middle of the twentieth century people could actually pay for college with work they did during the summer. When government started guaranteeing student loans, the colleges started increasing their cost. Why would they care about the increase in cost?! The government is guaranteeing the loans! No matter what the cost, the colleges will be paid. The students going into deep debt, oh well that’s their problem.
200k for a worthless degree is dumb. My neighbors paid 120k for their daughter's degree. She's 25 and works as a waitress.
You should be able to get rid of student loans in bankruptcy. It would force bankers to look at the ROI of the degree so they won’t take a loss. Gender studies and liberal arts BS would disappear very quickly or they would be reserved for rich kids.
You are spot on!
@@arfrey5466 Not if your loan is held by taxpayers.
@@arfrey5466 I disagree. The borrower should do their due diligence on the degree they are pursuing and going into debt for. You don't go into $100k of educational debt for a job that tops out at $50k.
51 injured on the job, SSI pays $900/mo. You guys don't know what broke is.
☝️💯
damn I'm getting a yearend bonus in like 8 days that is going to be $77,700. That's over 7 years of SSI.
@@BossItUp911😂 okay
Yep I work service industry in a vary wealthy part of Florida and Millionaires love to cry about how expensive 4 European vacations cost and how excited they Trump is going to cut their taxes because they are broke meanwhile I make 40k and pay 32% tax rate last year. No retirement no medical benefits in Hospitality
@@juanvaldez727932 percent! That’s not right on 40 k
I worked in the Pool industry in Florida...cleaned pools, and reboild pools, and worked in Warehouses. Cut throat greedy industry...
The refinery I work at just posted a notice accepting applications for unit operators, starting pay $45+/hour. There are lots of jobs out there where you can make GREAT money without a college degree.
The thing is what are they requiring for the job?
@ hard worker, reliable, and willing to learn. And drug free.
If it was anything like in Houston 30 years ago, the waiting list was over a year for the 2-3 institutions in the Houston area that licensed or trained operators... Again, Nepotism is huge in this business... If you are not born into it or highly connected in the modern era or a minority who is as dumb as all get out, stick a fork in it...
1 or 2 videos a week is enough! Love the walks
A good STEM degree from a good technical college is still worth the money if you do it when you are young. Starting out with a good degree and building real experience is still going to be a good move (paying off the loans was tough). Engineers that can actually do the job will be in demand. I stumbled by chance on the C programing language and my EE degree made it perfect for embedded product development. It's tough sometimes but I have had a pretty good career overall (there are always ah's). I interviewed a young guy the other day that spent years as a Firmware Test Engineer and he didn't build any real skills, he just showed up and did basically data entry level work. You have to build real skills especially as you age. You have to be focused, but today it's hard to find bedrock to build on. You have to keep your skills relevant, it's not that hard to read/study 1 hour per day.
I totally agree with you. This guy should not be taking out another student loan to fund another career choice. He should just get a side job to add to his current income. In this economy there are already people who have this degree with experience on top of that, waiting to land a job. Many companies are laying off. He should be happy he has an income.
Your right.
7:26
Trades are not easy. I was an electrician apprentice.climbing ladders all day with heavy tools in half-built houses during winter. You gotta be fairly smart too.
@@skippyzk Ah yes… the tough part - being smart.
true and once you it your forties is much tougher
I've just got to stop and tell you that I thoroughly enjoy your videos I don't always respond to them but I do enjoy your videos...
I’m 70, broke, on SS only and having a pretty darned good time. Retired for 7 years so far. 😊
Your breathing
@@robertmanley2687 More than just breathing, have a childless woman 17 years younger I. Also am an old wrinkled veteran and having a good time. Very little money from SS but have managed better than most. Semi retired at 55, fully retired at 65. I'm a little bored, might go back to work for some thing to pass the time.
How much ss you get a month ?
@@Mr.Helper. BOOMER, I live in poverty, Less than 20,000 a year. My girl works hard seems like all the time. We are not married. I don't pay her way, she pays her own way I keep my money by debt free living for 17 years. Drive an old truck of twenty five years and an old car of sixty years. Times are tough, they've been hard before.
Living a frugal lifestyle seems all my life, Nothing new. and I'm content
@@bobbiecrider6964 Darned ‼️🤔 There are plenty of things to do and enjoying life without going back to work / suffering‼️Being creative will occupy the rest of your life 💡‼️
The 1% of rich Americans think of how to invest their money to increase their wealth during the recession. While the 99% of struggling hard-luck Americans think of how to survive without food and daily necessities in the recession and the coming hyperinflation. I am just about to make my first index fund purchase via vanguard. I intend to invest long term. just getting slightly stuck on how I balance my percentage portfolio between equity vs bonds. Low risk is good for me. Any tips
You are absolutely right ,firstly I believe money in the bank is not money because it is bond to inflation and losses values overtime, You have to be well disciplined to achieve success and save before you spend Lastly success does not happen overnight it takes time, dedication and self discipline
money is a liability, not an asset. You have to exchange it for assets that represent real VALUE. Real estate - properties for rent. Stocks (dividends). Bonds (interest), funds, REITs (interest), intellectual property, The aid of an institutional or basic financial advisor's cannot be over expressed. I started saving and investing in 1989 at the age of 20... I am 54 today and have 2.2 million in my retirement account, 135k liquid and I trade securities with 50-55k
That's fascinating. How can I contact your Asset-coach as my portfolio is dwindling?
There are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with ‘’Stacy Lynn Staples’’ for about five years now, and her performance has been consistently impressive. She’s quite known in her field, look-her up.
Thanks a lot for this suggestion. I needed this myself, I looked her up, and I have sent her an email. I hope she gets back to me soon.
My daughter decided halfway into her freshman year she didn’t want to go to college. We discussed it and she stated she wanted to travel. Okay what kind of job could she get that would afford her the time off and income for world travel. She decided on a one year massage therapy program, took a job in a CO ski resort working long hard hours during ski season making good money, living frugally and backpacking a few months of the year. She did this for 15 years until she married and had a child in her late 30s. She still does limited massage setting her hours around child responsibilities and stays off schedule during summers and school vacations. Wasn’t the life I had in mind but she’s content. She would never have been happy with a 9-5. I am proud that she took charge of her choices and took a different path.
Oh my gosh that's so inspiring. People end up in jobs that they hate and only live a half of a life but she lived a full life it sounds like. Bravo for her!
Get a job in Congress $184,000 to start,you can be a complete failure,no work history and/or a worthless degree and 20 years later you're a millionaire and only 40, easy peasy!!!
She’s doing her own thing. That’s half the battle right there!
Thanks for sharing your daughter’s story and congratulations on your grandchild.
I’d add though that how she ended up wouldn’t ordinarily pay for a family unfortunately.
I assume her husband has an income too and they get by ok.
I’m glad it worked out for her this way, but unfortunately it might not be a viable option to everyone. Nowadays in most cases 2 steady, full time median incomes are needed to have children and support them appropriately.
@@MsJustice4ever Without a pile of unnecessary debt it’s amazing how well you can live. They’re a very active outdoorsy family and seem financially stable. Who knows though..I stay out of other’s business unless asked for advice.
I’m gonna turn 55 in January. Dropped out of high school when I was a kid. Not a good decision.
Got into the Carpenters Union in Chicago in 1990. Did that for 20 years. Got into a new apprenticeship in 2007. The Great Recession. Held two union cards for a bit. Went from making $40/hr back down to $10/hr as a Stationary Engineer apprentice. Lost everything.
Now I’m living in Mexico , Thailand , Albania. Lost 20 pounds. Gonna start collecting my two pensions when I run out of my savings.
Made $1 million more in my lifetime than the AVERAGE college grad will in his lifetime.With no college loan debt .
You can make $50/hr digging a hole in the Laborers Union in Chicago.
But you got to work hard for the cash.
Or get a digital nomad skill. Move to Mexico. You’re better off making 40k a year in Guadalajara than 80k in LA , Chicago or NYC
College grads look down on tradesman. In fact the reason they went to college was to NOT work with their hands. No matter what the pay is.
agreed
Do you like living in mexico?
You sir genius. It's not your choice of trade but the fact you choose counties with moderate weather, have breaches, good infrastructure and have affordable cost of living is amazing.
Im 33 average ~55 - 60k. I own 4 cars all paid off, 70k left on mortgage, living on 2 acres of land, outside of the city, & my life is pretty content.
Sounds like it
As long as you enjoy making the videos I’ll keep watching them. I’m mostly interested in your economic, financial and real estate subjects but, honestly, you could grace us with the soothing sounds of Micheal Bordenero with great scenery in the background and talk about chopsticks.
Listen not everyone can be rich. That said I’m old (60+) and still work physically and mentally hard 70-80 hrs a week cause I love what I do… I make a good living (no college degree) and have done so since 18. I suggest working hard, long hours but most importantly do what you love and don’t follow the sheep mentality…
Thats awesome! I love what i do as well. I don't want to ever retire. What do you do?
Builder/heavy contractor/rehabber/flipper/landlord/service business owner (2). Soon to be large raw land owner (north east) to which I will be building my forever small cabin to which I will visit very frequently for next 10 years till semi retirement while living in NJ. I’ve owned and lived in approx 20 homes and worked for private equity firms touching nearly 1900 yes nineteen hundred homes in 2019/2020.
@wallye8713 simply work out. Doesn't have to be extreme.
Glad you like what you do. I have never found anything I'd want to work at for 70 to 80 hours a week. Ever.
@wallye8713 thats so cool. 😎💞
I strongly advise a new high school grad to join the military for 3-4 years. You will become a responsible adult. All you must do is keep your mouth shut and do as you're told. The military offers good technical training in many different fields. You can pick your field. After discharge, the VA will pay your college expenses. Employers prefer to hire veterans.
That was my path!! 👍👍👍👍
Military is almost the only choice unless you get a construction job...
I knew lots of smart men who went that route. Be reasonable
My son "threatened" to join the Navy thinking I'd be freaked out. "Well it's the safest sector of the military & the only job you can do for 20 years & retire with a pension in your 30's with at least one trade certificate". He moved to Thailand & became a flight instructor.
Also, especially if serving overseas, you can put most of your pay into savings.
It’s a class issue Mike. People with college degrees now feel that they are in a different “ class “ than blue collar workers. Honestly, I am a massage therapist. I work 36 hours per week and make 75k Not counting extra cash tips. If I work a little more each week I would make 6 figures myself. I know plenty of massage therapist, plumbers, electricians, lawn care workers, spray washing workers all making 6 figures Yet the front desk girls at my office work 3 jobs and go to school and make maybe 30k per year all because they think they are too good to do a blue collar job like myself. They constantly complain and moan about not making enough money and they get horribly jealous looking at our tips, all the while knowing that the Owners would pay for them to get an LMT education lock stock and barrel tomorrow and in 8 months they could be making 75k debt free. But of course they’d have to get their hands dirty
I have no degree, and make 200k as a Cat 3to5 hurricane insurance inspector. Spent about 3 months studying for my license and about 500$.
Thats not accurate, more like 60-75k.Those storms dont happen often wnough.
not sure an employer will look at a 40 year old fresh out of school (with no experience) like they will a 22 year old in the same circumstance
They did me! I had a college degree that went nowhere for 20 years before I finally got smart and went back to a medical technician program for 1 year with no debt. Made a six-figure income within 24 months. I was in my late 40s. You just got to jump in.
Agreed... Sierra got lucky... I finished 2nd B.S. at 57 and not that I expected anything, but did not have a smidgeon of opportunity in my chosen field... Pack it on, go rogue, and await the collapse....
Am 58 retiring next year but the thought of retirement gives me weakness. My apologies to everyone who have retired and filing social security during this time after putting in all those years of work just to lose everything to a problem you never imagined to happen. It’s so difficult for people who are retired and have no savings or loved ones to fall back on.
If you need advice, consider speaking with a financial advisor. Don't get me wrong, you can do it on your own, but financial advisors have a lot more knowledge and expertise in this area.
you are completely right, Advisors have information and paths that are not disclosed to the public.. I profited $560k in 2023 under the tutelage of my Fiduciary-counselor. Am I selling? Absolutely not.. I am going to sit back and observe how this all plays out.
nice! once you hit a big milestone, the next comes easier.. who is your advisor please, if you don't mind me asking?
'Rebecca Nassar Dunne’ is the manager I use. Just research the name. You'd find necessary details to set up an appointment.
I just googled her and I'm really impressed with her credentials; I reached out to her since I need all the assistance I can get. I just scheduled a caII.
My husband died after a fairly short but very expensive illness. Despite good medical insurance, extreme life saving measures were not covered. These bills were in the tens of thousands. The debt collection phone calls I started to receive was a deciding factor in leaving that state and moving clear cross country.
Trades like AC, Electricians, Plumbers don't pay 6 figures! Especially here in Florida 😂
they only will if you start your own business or do side jobs on the side
@@druzhinacoccoc853 Or join a Union maybe? They get good rates in some states
@@druzhinacoccoc853
True, very true. Side jobs or a business.
Yes, it DOES exist. It's called NURSING and you can make 6 figures as a travel nurse right out of the gate.
And as long as you can remain unvaccinated and healthy or avoid burnout....
yes, because nursing is an incredibly easy field to get into and not at all highly demanding/burnout inducing.
Thank you Michael for sharing you experience and knowledge with us. I really appreciate how you break things down into a way that is more digestible. Also enjoy the beautiful areas you share with is.
The problem of going back to school at 38 is by the time you graduate, you will be of the age when it is difficult to get hired, because people in their late 40s and above cost too much
It depends on the degree you choose. STEM degrees don't discriminate. Talking from experience.
It would have to be in a field where they're willing to hire people in their 40s. You'd have to be very strategic.
When I FIRST STARTED FOLLOWING YOU (and it has been SO DELIGHFUL - I must say)
the FIRST THING THAT CAME TO MY MIND is that your "VIGOROUS, UA-cam postings
will lead to BURN OUT.
WHAT IS SO DELIGHTFUL about your videos is YOUR DELIGHT IN DOING THEM which
makes them SO HIGHLY ENJOYABLE: that's THE KEY SPICE in making your videos
SO ENTERTAINING + A DELIGHT TO WATH.
BASICALLY, you have "a good time", we have a good time too!
Vary your schedule to giving yourself "some breathing space" is A GREAT IDEA
at "your discretion + pleasure" OF COURSE. (Ha! Ha!)
Ken, Toronto, CANADA
I have a friend with no college degree who was making six figures (about 200k), then got laid off. When he applied elsewhere, they rejected him for not having a college degree.
If it was a man he probably was replaced by a ✔ applicant.
Classic 💯🤡
What kind of work was he doing before the layoff?
What industry was he in just out of curiosity
Usually people are looking for soft skills and experience and not the college degree at all.
Keep the videos coming, great information that we don't get from news media. Thanks
My husband supports our family of 7 on 55k a year... Live within your means people...
There is a difference between living and surviving. As someone who grew up in poverty, I’d want more for my children, and so I do. That’s why we only had 2 kids, not 5. But each to their own.
@MsJustice4ever my children don't go without, we are doing fine. People spend excessively and on frivolous shit nobody needs. Then it breaks, and you buy it again... The consumerism is consuming the people of this country and it's not sustainable at all... My comment wasn't about my family or yours- but the main focus was "live within your means"
And that's not even touching the second part that he mentioned later in this video, talking about investors basically only building luxury properties- who can buy them? Apparently nobody in the cities, and here in the smaller parts of the US, those go unrented... I'm really curious if we are gonna have places like in China, full of empty buildings...
i was broke at 37 now 53 still broke
I got three words for you "Bad Money Management" 😂
People either have a spending or an earning problem. Sometimes, both.
@@bballah9969 And you are mean. Stop judging people.
@@jjones3566 it's not mean. it's just true. find a way to live on no more than 80% of what you make. live at home, get a roommate(s), work more hours, take fewer vacations...whatever it takes.
How does that happen?
Degrees are a joke. Unless you're an attorney or doctor I fail to see the point since 99% are functionally useless in the workplace. We as a nation need to normalize putting the "paper ceiling"" out to pasture.
Yes. Unless your degree is science, health or law, don't bother.
Because they needed an easy way to sift for smarter corporate workers. Now, they've destroyed the value of degrees due to students becoming customers making it much easier as well as flooding the market with supply
You forgot engineering. That's still a very lucrative degree.
Or an engineer or architect (the real kinds, not a glorified computer coder)
I’m a dental hygienist and make 44$ an hour and I’m broke too! This shit makes me miserable and who wants a miserable dental hygienist? If someone told me this job wouldn’t pay my bills in 19 years I’d have gone into finance. Who wants to help people when it keeps you poor? My job is extremely stressful, & physically demanding for me to not be able to have healthcare or even take time off. I’m now looking into a diff way to make ME money bc I’m done making other people rich to get nothing in return. And it’s sad too bc I’m very good at what I do and enjoy making people feel comfortable at the dentist. This will become something you’ll see w nurses too. Healthcare will get worse and worse bc the country only cares about greed. Sorry for the rant. 😊
my uncle passed and owed 150k on his home with an ARM of 30k he did not put anyone on the will for the house, it's going back to the bank. he was broke had 40.00 in his checking when he died.
definitely not uncle’s problem anymore
Nice
Thats a bummer he didn't have a will. If he had equity, the state got it. Everyone should just go on legal zoom and make a quick will.❤
Uncle did it right.
sounds like your the next of kin, file a probate and cash out the equity. not legal advice.
😊 No worries, Michael. We really didn't think you made $50k and are dead broke, so the title didn't really throw anyone. Good to clarify, nevertheless. 😊 We don't have enough people going into the trades (especially), so I would not necessarily focus on college ($$$) for young people these days. Trade school costs less, and jobs there pay well and are way more in demand right now.
Trade schools os the key
No way... construction.. plumbing.. electrical.. roofing..auto mechanics..tire shop... alignment shop....truck driver...on and on and on..are all worthless trades because every poncho is willing to do them for peanuts...go to school..get an education...don't compete with poncho for a job..
@Mikegastaldo all u wanna be is a pencil pusher
@Mikegastaldo DONT COMPETE??
I bet your boy plays gilrs sports
@@Mikegastaldo wow
Thank you to our host for this important segment. Welcome back to frigid Broward and Miami-Dade. Good topic and good research. Good content
Become a plumber instead, seriously!
Yeah, you’re down in the ditches with ex-cons and low life's.
On Year 6 of owning our plumbing company. I am now 31yo and employ 3 young men who are well on their way to making $80k in an inexpensive small southern Oregon town. If i can do it anyone can. People like mattg just like making excuses and acting like a victim. Plumbing is a great option for anyone who isn't afraid of a little hard work.
Happy Thanksgiving
Trades pay good, if you are to good to get in a ditch with YOUR employees you are not thinking right.
My buddy just tore his ACL doing construction. Y’all can have that.
So you wouldn't stoop so low as to do the dirty work a plumber needs to do and yet I bet you are first to scream blue murder if a plumber charges what they deserve to do your dirty work. Hypocrisy.
There is absolutely nothing wrong with doing honest trades work.
Just do what you do, Michael... however you want. Don't burnout. Love your content!❤
I'm 39, make 93k/year, live comfortably with my husband and 2 kids, but am still improving my finances and paying down my debts, and work in the Safety profession (which is booming and in need of fresh talent). I worked in Education for over 5 years before getting my MS in Occupational Safety and Health while working full-time, graduated Magna Cum Laude, and did a complete career change 5 years ago to get to where I am now. It CAN be done, you just need the right field and drive to succeed!❤
My outlook on money changed when I realized someone making $300,000 can retire broke & someone making $80,000 can retire a multi-millionaire. With the current market movement, you have $60k to invest. Where are you investing it?
I believe a healthy portfolio has 3 things, at the bare minimum: Exposure to ETFs for increased diversification, Exposure to assets that generate cash flow like dividend stocks, Exposure to market-leading tech.
Bitcoin through 2025, then high yield ETFs through the bear market 26’-27’ that's my plan. Remember to always work with a financial advisor when starting out to avoid being exit liquidity.
I’m working towards financial freedom with a focus on dividends & growth investing. Since 2014, I’ve built a portfolio made up of 50% SCHD, 25% SCHG, and 25% VOO, thanks to my CFA. This strategy has helped me earn $36,000 a year in dividends. Back in 2014, I only earned $21 in dividends.
I’ve been looking to switch to an advisor for a while now. Any help pointing me to who your advisor is?
Her name is Annette Marie Holt can't divulge much. Most likely, the internet should have her basic info, you can research if you like
I’m not sure how I found your videos, but I like them. I don’t watch TV. Only podcasts for news and world events. I’m going to be 59 next week and have been a RN for 36 years. I still work part time. I’ve traveled throughout the US and my daughter lived in Santa Barbara for 7 years (I LOVED Santa Barbara). Anyway, the length of your videos is perfect! I enjoy the content and scenery. I live in Michigan….. so I travel a lot during the winter months. Not a fan of winter at this age! Blessings to you. ❤
My husband is HVAC in Texas. He made 50k last year his fifth year in the trade. So no most tradesmen don't make six figures. You have to be doing something specialized in high demand with many years experience.
No he is being underpaid. Unless he is just changing filters. I have 6 years in and 100k plus in NC
@@120weapons I know of people in HVAC getting paid 50k or less. I ask what are you exactly doing and the reply is "just changing filters". I ignore any complaints about pay after that.
To be perfectly honest I haven't seen any video of yours posted that I was not interested in keep up the good work thank you
Awesome! Thank you!
I’m a federal employee that took 25 years to get to 100k in base salary. I started in 1998 at just 21k a year. I’m 55 now and plan to work until at least 62. My children are still young and living at home so retiring early is out of the question unless I win the lottery. But life is good and my wife also works so we are doing well overall.
Trump will soon fire millions of fed employees. Be careful out there.
Im 33 making 50 - 60k/year and ive never been so content with my life. Owning 4 cars and 70k left on mortgage on 2 acres of land 35 miles outside of the city. Life is easy.
I went into truck driving 5 years ago. 4k for CDL school and then went to Schneider for more training and made over 50k my first year. They reimbursed me $3200 of my CDL school and I moved on after 16 months. I made 100k ever since with smaller companies
Lies
@mrwondering2594 ah no
@@SlimShady771
I haul fuel and don’t even make that every year, so either you live on the road or you cappin
@mrwondering2594 yes I live out of the truck.
I watch your videos everyday that you make a new one! Keep up the great reporting!
Unfortunately, in our current economic climate six figures just barely gives you a little breathing room and that still depends on how much debt load you are carrying which is pretty substantial for the vast majority of people.
You sound like you’re living way above your means, median family income is about $75k, six figures puts you in the wealthy category.
I am so glad that I don’t have car payments.
I make 60k a year and about one financial emergency from losing it all. Love it.
I hear that. No fun
You aren't the only one.❤
Same! Back in school for IT
@@FredTechScbad choice, those jobs are being outsourced to India.
@@1971_Chevelle_SS yes, they are. But I'm in a military town. I just need me clearance and I'm Gucci. They can't outsource government roles
I got my RN over 30yrs ago. I’ve retired but I’m hesitant to give up my license. The current situation as it is, if I needed a few extra bucks, I could come out of retirement part time.
Become an electrician or plumber
Absolutely - besides a lot of other advantages you will also become a "free agent" who can move to other states without fears of unemployment. Good plumbers and electricians are in demand everywhere 🙂And remember: getting a collage degree you may end up doing an unrelated crap job - becoming a skilled electrician or plumber means you will work as such!
@@vidguy007 You actually have to work on these jobs. This is a foreign concept to Millennials that are now in their 30s and early 40s.
@@ExecuteBrandonlmao 😂 so true
Trucker.iam at about 30.00 hourly great medical 70.00 a week for 2 people paid holiday's.
@ Plural for holiday is holidays, not holiday’s.
I LOVE your sun glasses reflecting the water and the shoreline with palm trees. Super cool!
Besides that, I love even more your point of view on how to deal with finances. Pure common sense. ❤️
Petroleum Engineers made a median salary of $131,800 in 2022. The best-paid 25% made $169,230 that year, while the lowest-paid 25% made $101,080.
I went to High School in the late 70s, the "college craze" hadn't started yet. Many already worked part time in restaurants, etc. College was just for the few with wealthy parents and you didn't need it for most jobs.
Many of the girls were looking to settle down and have a family, not to spend years on some campus and later on a career and, most likely, a broken home.
Many guys were just into their cars, smoking pot and what not. There were jobs around, housing wasn't "crap expensive" or such a big deal and Miami certainly didn't look like in this vid. If you got a girl pregnant you'd take your responsibility and pop the question, sure money would be tight for the first couple of years, but as long as it worked between you, it would work out.
Today it seems many don't even go for family, some have kids and move on, away from each other when the kids are still small or sometimes even before a kid is born. Most college educated ladies though, they wait until they're in their 30s before they have a family, well it don't make it last much longer though, since divorces or separations are quite common among most parents today.
Many ladies today seem to feel that a college degree is so important, way more than having a family, or that a family is a single mom with kids, guys are not needed much anymore, in that sense. And of course, you have a lot of mental issues in such a socitety coupled with materialism and ppl take on way to much debt since they think spending money'll make 'em happy.
It's not.
In High school it used to be when you had a date or hung out with your friends, it meant way more than any class or college application.
What makes the kids "tick" now, social media I guess, we're on the wrong track.
If he hasn’t figured anything out, he’s not going to. He’s done. It’s about a life of crime from this point forward!
Are you talking about Trump? The criminal who's now in office running our country who sexually assaults women?
I really like your constant videos they are very encouraging and informative.. It's very obvious that you put a lot of work into these.. Talking about real life financial hardships for people who are not earning a lot but also have not been frivolous just victims of life circumstances is it's very enlightening
When people graduate from college with a bachelors degree that’s all you’re guaranteed-a degree! College doesn’t guarantee you a job.
My local community college offers a HVAC degree in 18 months. The tech program can be had in 9 months. The difference is that the associates degree gives you the knowledge and skills to start your own business. That's where the real $$$ is; working for yourself.
My greatest fear is that my daughter will trade the family cow for magic beans.
I believe most of us parents have that same fear, many of today’s young generation had it to easy coming up and don’t realize what they have and assume it’ll always be there.
@@1971_Chevelle_SS Did you have a 4 speed on your Chevelle what a neat muscle car.
@ got a Muncie m22 in one and a turbo 400 in the other.
I can almost guarantee that there won't be any student loan forgiveness for the next 4 years....Wooooo-hoooo!
Thank you for another great video Michael
No to schooling//learn a skill that pays [possibly be mentored by someone] - anything from plumbing to window installation//does he have a talent or ability?
Think he needs to get wife to work too and reduce costs. You can learn skills w/a computer [my relative learned animation by using the computer's info].
Mike has good advice.
Brilliant discussion
Excellent Analysis
Thank you Sir
You can become an electrician and they will pay you to become an apprentice.
$13k a month for a 878 sq ft condo reeks of a building built with the sole purpose of foreign investors parking their money in assets overseas. And sometimes ill-gotten money. Another reason we need legislation to ban foreign buyers
I am 43 with my wife and 2 kids. I earn 50k a year in California. We have no debt and 1 paid off car. And we are happy 😊
Glad you're happy NOT saving much for your retirement and for your kids' university education or vocational training. Not good financial planning or parenting.
@nomadnationalist2776 Great both planning and parenting. Both my kids have 2 citizenships upon birth. It is an asset by default. They are also both bilingual. They can get free university education in their second country. Or my mother can pay for their university education here in the US, etc.
You must be a Kommiela supporter, one of those judgmental folks that believe they know best how other people live their lives. A parent has no obligation to finance a child’s college education, that’s a gift if they contribute. Also, if a persons happy that’s great, no guarantee of tomorrow, let alone retirement. Also, sounds like they’re fine at $50k while working, so if they are fortunate enough to make it to retirement social security would probably be enough to get by on.@@nomadnationalist2776
@@PermanentResidentCardHolder wow. Expecting your mother to pay for YOUR children’s anything is something else.
It’s nice if you get anything as a gift but to expect college fees? Wow.
You’re an entitled and irresponsible individual.
@nomadnationalist2776 is right.
Someone I know, just graduated with degree in marketing or simlar. They got their first real job. It pays $45K. A bit low but they do get a lot of paid vacation, something like 22 days. It's in a low-cost area of the US so its not too bad over all.
My PAST self tried refinancing my FUTURE self....but my CURRENT self denied that credit line.
My analysis of your person who wrote in: He's got a nice upper-middle class job now. At 38, he has plenty of time to reach lower-upper class at $100k per year by the time he's 50 or so. If he's dead broke, I assume it's because he's spending a huge chunk of it on student loans, since $50k is plenty to live on while putting away at least 1/4 of the income towards saving for retirement. I wouldn't waste money on more college, which doesn't guarantee a doubling of income, and he's in pretty good shape as it is. I would pay off the existing debt as quickly as possible and just live easy on that $50k after that.
Just always looking forward to your next video thank you.
More to come!