How Minimalism Can Help You Build Wealth

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  • Опубліковано 26 лис 2024

КОМЕНТАРІ • 125

  • @TaeKimFinancialTortoise
    @TaeKimFinancialTortoise  5 місяців тому +4

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  • @larryronhartfield55
    @larryronhartfield55 3 місяці тому +164

    Frugality lets you maintain a balance where only your priorities come first , leading you to a secure financial future. I am avoiding debt , saving and investing around 40 percent of my income. I have a high paying engineering job, and I live upstate MN. since covid my expenses got extremely low. I have zero debt on a 7 figure portfolio, low rent and truck paid off. So i can just save. feel lucky and grateful i got a great financial planner

    • @soveinaaraceli
      @soveinaaraceli 3 місяці тому +1

      I realized that the secret to making a million is saving for a better investment.

    • @kalineats
      @kalineats 3 місяці тому

      please can i get your consultants info? or should i drop mine?

    • @larryronhartfield55
      @larryronhartfield55 3 місяці тому

      @@kalineats Dianne Sarah Olson' is her name. In her area, people consider her to be a genius. Look her up; she's well regarded in her field.

    • @lidijatana7894
      @lidijatana7894 3 місяці тому

      Thanks for sharing, I just looked her up on the web because this is equally important to me, and I would say she really has an impressive background in investing.

    • @mitsen01
      @mitsen01 3 місяці тому +4

      bot ahoi

  • @JigglyBees
    @JigglyBees 3 місяці тому +11

    I have ADHD and I used to be a constant hoarder or 'collector' as I phrased it. Minimalism made my life so much better. Don't get me wrong, I am not a perfect minimalist. The impulsivity that comes with ADHD and the dopamine spike from new buys is hard to resist and there are times I have failed at resisting. However, after downsizing around 50%-60% of my possessions over the last 2 years, it has really helped my mental health, finances and executive function. It has massively improved my ability to say no to things and I am finding it easier to resist wanting to buy any shiny thing that draws my attention. I even managed to go on my first holiday abroad a year back which is something I was never able to do before.

  • @Kamarleyy
    @Kamarleyy 4 місяці тому +38

    Not wanting too much made my life easier and I realized you can have all the money in the world and still be unsatisfied.

  • @RichardTouchfaith
    @RichardTouchfaith 4 місяці тому +52

    Walking out of Costco or Target and not buying anything besides groceries since you realize you do not need more "stuff" is a nice experience.

    • @PersonalFinance101-m7e
      @PersonalFinance101-m7e 4 місяці тому +5

      Sure. Resisting the urge to splurge and sticking to just the essentials feels like a victory for both your wallet and your peace of mind.🙂

  • @stpehenswenson5517
    @stpehenswenson5517 4 місяці тому +14

    Great advice again. I’m myself a minimalist for about two years now. I was so surprised how much money I was blowing just on coffee everyday. I’m not rich at all but it’s nice now having a nice emergency fund and able to max out my Roth every year. Which I wasn’t able to do before.

  • @DreamweaverShade-h9p
    @DreamweaverShade-h9p 3 місяці тому +99

    Sometimes Protecting your capital is much more important than making money. Basically because if you lose your capital, making money is much harder. ''Missing the train'' vs. ''losing your money''. There are a lot of trains, but if your money is gone, it's over.

    • @PhoenixReborn-v6v
      @PhoenixReborn-v6v 3 місяці тому +1

      After the '08 financial crisis, I've learned not to trust corporations. Since 2020, I've been investing with a financial advisor and have had no major losses, so I'm not going back to relying solely on banks.

    • @DreamweaverShade-h9p
      @DreamweaverShade-h9p 3 місяці тому

      Market behavior can be complex and unpredictable. Mind if I ask you to recommend this particular coach to whom you have used their services?

    • @PhoenixReborn-v6v
      @PhoenixReborn-v6v 3 місяці тому +5

      I'm cautious about giving specific recommendations since everyone's situation varies, but I've worked with "Melissa Elise Robinson" for years and highly recommend her. See if she meets your criteria.

    • @DreamweaverShade-h9p
      @DreamweaverShade-h9p 3 місяці тому

      I looked up her name online and found her page. I emailed and made an appointment to talk with her. Thanks for the tip

  • @TheWasup1994
    @TheWasup1994 3 місяці тому +8

    My biggest realization recently is that the more stuff I buy, the more tax I pay to the government. So spending less money on items helps me save money on tax

  • @MrAgility888
    @MrAgility888 3 місяці тому +7

    I have a North Face jacket from 2011. It's definitely a little worn in some places but it still looks good and works well.

  • @ryanwilliams989
    @ryanwilliams989 3 місяці тому +6

    Success depends on the actions or steps you take to achieve it. Building wealth involves developing good habits like regularly putting money away in intervals for solid investments. Financial management is a crucial topic that most tend to shy away from, and ends up haunting them in the near future.., I pray that anyone who reads this will be successful in life!!

    • @TheresaAnderson-kf5xw
      @TheresaAnderson-kf5xw 3 місяці тому +4

      Starting early is simply the best way of getting ahead to build wealth , investing remains a priority . I learnt from my last year's experience , I am able to build a suitable life because I invested early ahead this time .

    • @maryHenokNft
      @maryHenokNft 3 місяці тому +4

      Exactly ! That's my major concern and what lucrative investment can one venture into with the current rise in economic downturn

    • @hunter-bourke21
      @hunter-bourke21 3 місяці тому +4

      In fact, I had no prior experience or understanding when I began investing in 2018, but by the end of 2019, I had made a profit of almost $750k. All I had been doing was going by what my financial advisor had told me. This demonstrates that all you truly need is a professional to assist you; you don't even need to be a great investor or put in a lot of work.

    • @maggysterling33254
      @maggysterling33254 3 місяці тому +4

      @@hunter-bourke21bravo! I appreciate the implementation of ideas and strategies that result to unmeasurable progress, thus the search for a reputable advisor, mind sharing info of this person guiding you please?

    • @hunter-bourke21
      @hunter-bourke21 3 місяці тому +3

      *Gertrude Margaret Quinto* is the licensed advisor I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.

  • @ubaidullahtahir4814
    @ubaidullahtahir4814 4 місяці тому +5

    Hello from Kashmir, India.

  • @schwaemmy
    @schwaemmy 3 місяці тому +1

    The sunglasses case as an example of minimalism did make me chuckle a bit. While of course I respect it, it doesn’t seem like the quintessential minimalist item, haha. I’m glad the world is moving in the direction of minimalism! Better for the environment, anti-consumerism, and promoting real contentment and engagement in the world. Great video :)

  • @Marelybbmarley
    @Marelybbmarley 3 місяці тому +1

    NEED A ROOM TOUR.
    Even if it's a short. 🎉❤
    Love the look and feel. The book shelves, the weight rack and the simplicity.

  • @Ozzie19136
    @Ozzie19136 4 місяці тому +4

    Thank you for this. So much practical advice. Really enjoyed how you presented a quote and then explained how we can implement these principles in our lives today.

  • @jameswood9772
    @jameswood9772 3 місяці тому +4

    Creating wealth entails establishing positive routines, I had only $78k to my name at 42 when I first woke up to this reality. I chose the stock market as a medium of growth, got an excellent financial advisor, Financial management is a vital subject that many avoid, often leading to future regrets.

  • @themeatspot5020
    @themeatspot5020 3 місяці тому +1

    Me and my family become homeless I was 15 over the next few year we lost all our belongings from leaving them at places and them being stolen.
    Now have a decent job and salary and roof over my head, but now I can't stop buying things. Buying something new and keeping it feels good.

  • @chiefenumclaw7960
    @chiefenumclaw7960 4 місяці тому +2

    I love Mint Mobile!

  • @RichieRichIIII
    @RichieRichIIII 27 днів тому

    Some great alpha on this vid on having a minimalist viewpoint ✅

  • @Merewah97
    @Merewah97 3 місяці тому +3

    My northface inner and fleeces still works well 25 years later

  • @VikDFW
    @VikDFW 3 місяці тому +2

    Buy the Champion sunglasses from Costco. I have 1 in each car. No case needed. UV Rated and made in same factories as higher priced brands. At $29 if it falls apart, throw them away.

  • @soumyajeetchakrabarty6872
    @soumyajeetchakrabarty6872 4 місяці тому +1

    (P2) I totally agree about quality over quantity , I have a couple of jackets which I purchased in my college days ( 1 Addidas & 1 puma) and they are still solid gold, I just had to repair the zip of 1 one of them. However when a couple of years back I purchased a stylish pair of shoes from an unknown brand that were cheap I had blisters on my feet, I dreaded to wear them and it soon succumbed to wear and tear.
    I gave this context because I wanted to share a valuable lesson that I learnt in my indulgence in materialism to my relationships, I rather have a couple of long quality meaningful relationships rather than a bunch of shallow toxic ones.

  • @platinumblast8610
    @platinumblast8610 4 місяці тому +3

    Thank you mr Kim great channel

  • @Merewah97
    @Merewah97 3 місяці тому +1

    Success is getting your wants
    Happyness is wanting your gets

  • @Willycheng590
    @Willycheng590 3 місяці тому +6

    This time last year I considered investing without much knowledge and decided to have a consultation with a fiduciary, and it was incredibly insightful. One year and a couple of months in, and I'm almost debt free. I truly cannot stress enough how helpful experts in this field are!

  • @Mileko-fv5pb
    @Mileko-fv5pb 4 місяці тому

    Thx you for this video. After having my couch for seven years, it finally broke and I took over a month to try to find a replacement. This additional information was very helpful.

  • @Inspire_andrew
    @Inspire_andrew 4 місяці тому +2

    Such great advise, I am definitely on board.

  • @jeffbox1torres
    @jeffbox1torres 4 місяці тому +19

    With copytrading, you could be sipping coffee on a balcony overlooking a bustling city skyline or lounging on a pristine beach, all while your investments work for you. Picture the freedom to pursue your passions, travel the world, and create lasting memories with your loved ones, all because you took the initiative to harness the power of copytrading and build the life you've always dreamed of.

    • @brickPalmerm-ki5er
      @brickPalmerm-ki5er 4 місяці тому

      I'm celebrating a $60k stock portfolio today. started this journey with 6k. I have invested on time and also with the right terms now I have time for my family and the life ahead of me just one of the things copy tradee can do.

    • @WaltRsDave-cs4zc
      @WaltRsDave-cs4zc 4 місяці тому

      Do you invest with a professional broker? I'd appreciate it if you show me how to go about it.

    • @jeffbox1torres
      @jeffbox1torres 4 місяці тому

      Can't share much here, I take guidance from ‘Sophia E Haney’ a renowned figure in her industry with over two decades of work experience. I'd suggest you research her further on the web.

    • @jeffbox1torres
      @jeffbox1torres 4 місяці тому

      Use her name to quickly conduct an internet search.

    • @jeffbox1torres
      @jeffbox1torres 4 місяці тому

      SHE’S MOSTLY ON TELEGRAMS APPS WITH HER NAME.

  • @barry4848
    @barry4848 4 місяці тому +2

    appreciate your message.....I would not spend that much time or effort for a glass case....we all have our own methods and limits

    • @gr8fulUS
      @gr8fulUS 4 місяці тому +1

      agreed, a minimalistic approach on spending time on something that's not as expensive.

    • @CurieBohr
      @CurieBohr 4 місяці тому +1

      Don’t believe this crap. He has MacBooks and iPads and iPhones and 5,00 books, etc all over this video. He’s a spender.

  • @stephen.macleod
    @stephen.macleod 4 місяці тому +6

    Tae, did you just throw your wife under the bus as an excuse to buy new North Face?! 😂 Love the channel.

  • @EnriqueAgbayani
    @EnriqueAgbayani 3 місяці тому

    Thanks mr kim, subscribed.

  • @Mikael00898
    @Mikael00898 3 місяці тому +7

    My life changed when I realized that no one was coming to save me. If you take your life seriously you will see a lot of improvement. I made the decision to start cryptocurrencies earlier last year at 38, just 1 year plus a few months since I started, I have grown my portfolio to over 100k, I know this isn't much but it wasn't easy to inspire myself. I really thank God for my journey so far and also connecting me with the right people.

    • @LeoSabastine
      @LeoSabastine 3 місяці тому

      What's the best way to kick things off? And how long until the lnvestment starts bringing in profits?

    • @Mikael00898
      @Mikael00898 3 місяці тому

      It doesn't matter how long you wait, in this markêt opportunities must come. Invest for the long haul. It's important to make informed choices rather than relying on luck or impulse. it's best to partnēr with an advisor.

    • @LeoSabastine
      @LeoSabastine 3 місяці тому

      I hope you don't mind recommending your advisor since you mentioned something like that.

  • @liviunicolau1807
    @liviunicolau1807 4 місяці тому

    Big thanks from Romania🇷🇴

  • @romikim4548
    @romikim4548 4 місяці тому

    Thank you for great insight on minimalism.

  • @Steve_SEC
    @Steve_SEC 4 місяці тому

    What about dividend ETFs such as VIG, or does VTI provide sufficient dividends?

  • @peterl2767
    @peterl2767 4 місяці тому +2

    Great info 👍 👌

  • @LashusJourney
    @LashusJourney 4 місяці тому +1

    Thanks for great content as always! I need to sign up for that phone service, $15 monthly.

  • @bocbocigi.-hs5nd
    @bocbocigi.-hs5nd 3 місяці тому +175

    The fact that nobody talks about the forbidden book 'Arab money secrets'

    • @6TF6metoda-qn8rn
      @6TF6metoda-qn8rn 3 місяці тому +2

      This is on another level.

    • @Primorkusha
      @Primorkusha 3 місяці тому +1

      Too deep for some.

    • @abhijeetaanand2334
      @abhijeetaanand2334 3 місяці тому +4

      It's oil 😂

    • @jswan312
      @jswan312 2 місяці тому +3

      Is keeping women as domestic servants part of their wealth building plan.

    • @SkankHuntForty2
      @SkankHuntForty2 Місяць тому +1

      Stop spamming. Stop pumping your own book.

  • @Geemeel1
    @Geemeel1 3 місяці тому

    GREAT vid as usual , 🙏🏽thanks, However, my only worry is: do you want to spend so much time on researching a sunglass case...? If I had worked on my new book for that hour, in the long run it would serve me better, maybe? 🧐

  • @andersontiban5356
    @andersontiban5356 4 місяці тому +1

    Nice book shelf

  • @AlejandraRodriguez-u7f
    @AlejandraRodriguez-u7f 3 місяці тому

    what camera do you use?

  • @RocketFuelEdu
    @RocketFuelEdu 3 місяці тому

    Great advice

  • @rossderer6154
    @rossderer6154 4 місяці тому +3

    One of the most unsatisfying feelings is having a high networth but still not being able to aford owning a home.

    • @Great_PatBingsoo
      @Great_PatBingsoo 3 місяці тому +1

      The two cannot both be true lmao. Either your net worth is not that high, or you’re being picky about your home.

    • @rossderer6154
      @rossderer6154 3 місяці тому

      @@Great_PatBingsoo I live in santa barbara ca. The bottom of the market for a single family home 1.7m

    • @EnriqueAgbayani
      @EnriqueAgbayani 3 місяці тому +1

      My goodness, and I thought my place is crazy to have a median house price of one mil Australian dollars.​@@rossderer6154

    • @loft27ss
      @loft27ss 2 місяці тому +1

      What, can’t wait to pay crazy properly taxes on 1.7 ml ?😅 I would rather rent but invest in other good growth location , buy for 600k and rent it out, get some tax benefits

    • @rossderer6154
      @rossderer6154 2 місяці тому

      @@loft27ss the closest 600k home is about 100 miles inland in Fresno or Bakersfield. That's a hell of a commute to live in a place I really don't want to be to own a home on the gamble of appreciation.

  • @kirk0831
    @kirk0831 3 місяці тому

    How many physical books do you own?

  • @PatrickMcCarthy-m1k
    @PatrickMcCarthy-m1k 3 місяці тому +1

    If I'm not making car payments and monthly insurance, being better off? I can see it.

  • @kenichi407
    @kenichi407 Місяць тому

    really need to be very careful with this... we are put on this earth to LIVE... constantly saving for the rainy day, you will one day wake up and realize you're in your 70's/80's and have not really lived your life as you should have, and now it's too late to spend that money and enjoy certain things (too late to do active things and travel). lots of us have hobbies, and that's one way to find an escape from the mundane day to day. honestly, i can't imagine spending every moment looking at the my retirement tracker and arguing with my wife why she didn't buy the wholesale eggs on sale vs the organic cage free ones...

  • @Obsessed.WithMoney
    @Obsessed.WithMoney 3 місяці тому +2

    💯most people are going into debt to buy things to impress others and to pretend they're successful when they're not. Yeah bro you can finance a 60k depreciating car to get girls or you can buy a beater car with cash and then save up 40k for a downpayment for a house, which is an asset that appreciates in value. Living below your means is how you get ahead financially.

  • @AnnCastro-r2j
    @AnnCastro-r2j 3 місяці тому

    Love this! Minimalism truly helps focus on what matters and build wealth mindfully. We sent you an email, take a look.

  • @Kinjo7
    @Kinjo7 3 місяці тому

    Side note: I want a home library with a squat rack too

  • @beaverclea
    @beaverclea 3 місяці тому

    Um, aren't you in Europe? Is this video pre-recorded?

  • @spanishmeatloaf7901
    @spanishmeatloaf7901 3 місяці тому +1

    Just don't go out to eat. You'll be sur
    prised.

  • @soumyajeetchakrabarty6872
    @soumyajeetchakrabarty6872 4 місяці тому

    You are ❤❤❤

  • @cbrent65
    @cbrent65 3 місяці тому

    Thought the sunglass case spill was gonna lead to a sponsor. Who shops for that lol

  • @gotinycampervan9683
    @gotinycampervan9683 3 місяці тому

    Laundry day?

  • @jswan312
    @jswan312 2 місяці тому

    I hate all of the self-storage warehouses that are eating up the beautiful landscapes everywhere. They’re so ugly, and just filled with everyone’s disgusting junk. 👎

  • @janeairvintage7416
    @janeairvintage7416 3 місяці тому

    I still don't know what streaming is and don't care to know, have books to read

  • @walterblack6402
    @walterblack6402 4 місяці тому +3

    I have learned a lot concerning crypto progress this time and would like to join in. I wish I can get good mentor ?❤

    • @PreshWeirdo
      @PreshWeirdo 4 місяці тому

      I thought am the only one desperate to invest in crypto this time.

    • @PreshWeirdo
      @PreshWeirdo 4 місяці тому

      I have made a lot of mistakes trying to do it on my own,I really need direction or help of a pro in the field.

  • @_permanence
    @_permanence 3 місяці тому

    “Fewer”, not “less”.

  • @dbiswas
    @dbiswas 3 місяці тому

    Now you consider your wife in this thought process, every thing is out the door.

  • @nealremy6635
    @nealremy6635 4 місяці тому +34

    The market's volatility makes DIY dangerous. You do not need to identify the next NVDA to be successful in investing. Choose top-tier ETFs, dividend aristocrats, and a trusted advisor. I turned $180k into $200k in quarterly dividends, which is an exciting milestone

    • @AnthonyKilgore-u7r
      @AnthonyKilgore-u7r 4 місяці тому

      For the regular, the strategies are fairly demanding. In actuality, most professionals who have the necessary expertise to pull off such trades effectively carry them out.

    • @veronaconley1953
      @veronaconley1953 4 місяці тому +1

      Since I haven't taken any concrete action, I have been thinking about getting one. Could you refer your advisor to someone else? I sincerely could use some of your assistance.

    • @nealremy6635
      @nealremy6635 4 місяці тому

      *Layan Talia Chokr* is her name,You are most likely to find more info when you look her up on the internet.

    • @veronaconley1953
      @veronaconley1953 4 місяці тому

      Thank you! I entered her full name into my browser, and her website came out on top. I filled her form and i hope she gets back to me soon

    • @slicks8078
      @slicks8078 3 місяці тому +2

      I called her, and she tried to convince me to send her $10,000 and when I refused, she threatened to put a lein on my home. I hung up but then got a foreclosure notice. WHATEVER you do, do not look her up.

  • @JaneCurrie-z8f
    @JaneCurrie-z8f 3 місяці тому

    Please tell retirees who have a next egg how to allocate funds. I’d like to have 3 funds only.

  •  3 місяці тому

    "Enough" is important. Please make sure you allow enough time for words to come out of your mouth clearly and not talk too fast.

  • @dmcdndy
    @dmcdndy 3 місяці тому +1

    A tip I learned years ago is to pack only one pair of underwear and just use the flip technique. Just keep flipping them every day inside out and then flip them back to normal the next day and it saves room when you pack and you only have to wash 1-2 pairs.

    • @renewashington791
      @renewashington791 3 місяці тому +1

      😂😂😂 EWWW!!! Or just try **Never Wearing Underwear**

    • @loft27ss
      @loft27ss 2 місяці тому +1

      You probably never heard about hygiene and bad smell is your friend😮

  • @yanyant-q1l
    @yanyant-q1l 3 місяці тому

    north face jackets i have has a zipper problem. Arc'teryx is popular here but its expensive

  • @nightfangs2910
    @nightfangs2910 4 місяці тому +2

    This is a very difficult concept for most women, and a very easy concept for most men 🙋🙋

    • @mpjsac8951
      @mpjsac8951 4 місяці тому +4

      Opposite in my case. My husband has a collection that occupies 2 rooms in the house. My own stuff fit comfortably in my closet. 😊

    • @sensitivelifestyle
      @sensitivelifestyle 4 місяці тому +3

      @mpjsac8951 - same here. i’m a minimalist and husband is maximalist

  • @voodoochild4236
    @voodoochild4236 3 місяці тому

    Love your videos! Your name means poop in filipino💩

  • @kaifarts9084
    @kaifarts9084 3 місяці тому +1

    Cool.
    Sent you an email do check ❤