How I Saved $100k in 5 Years
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- Опубліковано 18 тра 2024
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You're on the right track.
My dad taught me something when i was a kid. He said, "Do you know what rich means? It's not a certain amount of money in the bank. I t means you can wake up when you want to, do whatever you think is productive and interesting to yourself, and go to bed at night having lived your life the way you see fit while never answering to anyone. And knowing you can do it again tomorrow."
I'm 62 now. Here's the funny thing, it takes a lot less money than you think to achieve it.
Boy, you said it. Too many people get caught up with the whole consumerism thing and think rich means lots of things. Then spend their life chasing those things. Of course some amount of savings/investments are good. They give you a lot of that freedom to wake up and do what you want to do :) But you're right, if you're not chasing things all the time it doesn't take as much money as you'd think.
Those with kids can’t really get rich by this definition until they have taught their kids the gift of self sufficiency, some may never get rich by this definition, because they neglected to teach their kids.
Your Dad sounds awesome mate 😊
@@the_bohemian_drifter He was 🙂
Do you have any investment videos? I need more info regarding this.
Building wealth involves developing good habits like regularly putting money away in intervals for solid investments. I believe every Investor should start with ETFs for a solid foundation, then diversify across asset classes and maintain disciplined, regular investing to minimize risks and maximize growth.
An obvious way to invest is to buy shares in businesses that are likely to experience steady demand even in a downturn. Typically, those are consumer staples, utilities, and healthcare companies, but off course such decisions cannot be made by an average Joe, a financial advisr is important in making this decisions
I agree Such considerations can certainly have a role when I think about whether I ought to buy into a share. But I never purchase purely on that basis, i always have to seek the advice of my financial planner who has helped me gain $985k in a well-diversified portfolio that has experienced exponential growth
Great gains! Can you share your CFP details? I'm gaining more cash flow from my job and want to invest in stocks and alternative assets to build wealth.
'Amber Dawn Brummit' is the licensed advisor I use. Just research the name. You’d find necessary details to work with to set up an appointment.
Thanks for sharing. I curiously searched for her full name and her website popped up immediately. I looked through her credentials and did my due diligence before contacting her.
Cars are the WORST waste of money on earth. The more expensive the worse it gets.
107k for a Ford 2024 SUV
I have a divorce client whose husband bought a Beamer for $1100/mo and their mortgage is $1300/mo. I told them they were car poor and needed to sell it before he files bankruptcy
AMEN!
tru
But if you live in a small town with out public transportation you pretty much can’t go without one
The first 100k is the hardest. The next 100k can be achieved in much less time if the 100k is left to compound. The 100k after that is even easier.
I saved up £500k over 14 years (plus another £250k in pension). My "why" was to stop, retire in my 40s and no longer work.
This is my exact plan. Trying to get hubby on board.
@@margauxv25 There are 260 workdays in a year. If you were to invest $/€20 a each workday into high performing index funds (15%+), you can achieve the first 100k in around 8 years. You can do it even faster if you put in more than $/€20 a day.
My friend moved out to a cheaper city when his mom kicked him out at 20. I helped him out by loaning him 1k (Not an issue for me) and by making a budget so he would save every month. I told him that right now, it's all on him. That he has no safety net and that he really needs to stop doing stupid shit to save money. He was good to save 1k a month on 35 hrs/wk. I told him he needed to maybe get a second job so he could be in a better place (another 8hrs/wk) in case something happened. He proceeded to get a new GF, not follow my advice and blow money on a European vacation and then he crashed his car with no savings. Can't help people sometimes.
a lot of people have adhd and its torture on finances when untreated
So your friend is 20 years old?
I totally thought this story was gonna end differently. Yikes, eh?
You're a great friend I wish I had a friend like you when I was growing up. Everyone around always wanted to borrow from me cash wise. Family can be a drain on savings during the storm. I'm now in a way better position currently. I just walked away from lots of people and stayed focused on advancement.
I went into reading this expecting he was going to be an inspirational success.
Living with parents is definitely the biggest boost possible. I don't understand parents who kick their kids out so they live in poverty forever. As long as kids are working full time with a real job, let them stay.
🥇
It’s not easy that’s for sure. I try my best with my kids but they have to live by my rules under my roof. That’s not easy for them and that’s not easy for me either.
They can make money even if they are out if their parents house, they can be bartenders, strippers and make tons of money
@@esraamohammed2685 Ya know you can live with parents and be a stripper right?
My kids have both returned home after relationship break ups. Both my sons were easy to live with, having had partners with varying degrees of lazyitis ( didn't clean house, spent money like it was going out of fashion etc). Nice girls in many ways but my sons were trained to clean up after themselves, have savings, and to disagree without it degenerating into a row/ screaming match. So it was OK my boys returning home, paying rent and getting back on their feet. But friends of mine have had the opposite experience!
For me just the idea of "stability" and "safety" has been enough of a why.
I don't have any kids, but if I did, I would want a daughter like Nicole.
Yes, Me too!! She's a great person!!
@@horsetracker63 yup same here
To lower income peope like myself, I’m sorry but she comes across patronising and arrogant at times
Oh heck me too 🌹❤️
@@HelenPrimoRoseanneInYourArea Yeah she's not right on all things. Used cars for example being better than new cars or that, it doesn't make a difference lol. Which certainly does make a huge difference. That's fine if she doesn't like new cars. Most women don't care about that & don't like to drive. Yeah just do what you want to do.
OMG Levi at 10 weeks old just melts my heart! So cute!
My favourite little potato
@@AccordingtoNicole it took me 5 years to save my first 100k too
@@AccordingtoNicoleHow old is he now?
12
My steps: earn more, invest instead of spend…Bought a home at 45, now at 47 trying to overpay as most as I can and build cash/index funds/bonds/pension portfolio. I know I’m almost late to the party but I intend to do my best😊
Never too late!
Finally bought an apartment at 37 with a 40% down payment. I had to buy the place in a city an hour's travel from where my job is, but only need to pop in once a week.
better late than never
I’m 47, too and trying to figure out a plan. Any tips? So far I’m just trying to pay my debt down first.
@thisismetoday7423 house-sharing all the way up to 45 is what helped me to save+working all the humanly possible hours and spend as little as i could for 20 years.. I've done many jobs- some for minimum wage, paid my way through education by working part-time all the way. Now I'm learning about how to create a good investment portfolio at 47, this is a big new world for me 😀
Levi is your best investment! He’s so cute
Yep.....he pays dividends every day.
My favorite side hustle is buying stuff at yard sales and Craigslist and selling it on eBay. The key is knowing what to buy, how much to pay for it and what you can get for it.
The 1st 100k is hard, after that it snow balls!!! Great video Nicole!!! People need to start saving more : )
completely agree.
It's hard too people that never worked. It may be a lot to individuals who scam and have to spend it immediately because it was never theirs in the first place. Been there done that🤣
what r u doing to make it snowball, mine's just kinda stuck there
@@beardham A good Money Market yields 3 to 4% a year. CD's are paying about 5% a year and an SP500 fund has returned 10% a year for the last 20yrs. You have to wait years for it to grow of course.
@@beardham fidelity money market spaxx is paying 4.95 percent interest. Works fine
How refreshing to see a smart, down to earth young person winning at life. You go girl!
Nicole, You need to go to different high schools and ask them if you can give a Nicole talk to the high school kids. Sometimes kids don't want to listen to their teachers or parents but I believe they would listen to you. I know you would be good at it.
Your an amazing young woman. You will be a multi-millionaire oneday.
We paid off our first house in 3.5 years by paying extra principle each month. That was 40+ years ago. Be very careful about used cars. Many cars rot out in 8 years now because of the crappy steel and the highly corrossive salt used on winter roads. This salt is also killing bridges. Good Luck, Rick
My car turns 8 this year (owned it for 3.5 years), and I'm beginning to notice a bit of rusting taking place on bolts and stuff especially with the salt on the roads.
@@McGuire40695 Thoroughly washing under the car can slow the rotting. Good Luck, Rick
@@richardross7219 you're the man! Thank you!!!
Undercoat your car, you can do it yourself for around $100. See how on YT.
@@dabprod You can do it yourself but it takes a lot of time, preparation, and is a messy process. The last time I did it was 35+ years ago and it cost over $200. The cleaning and preparation took days. The car lasted quite a while, until the engine blew. Good Luck, Rick
Sage advice. Probably one of the toughest parts of becoming more financially savvy for most people is learning patience. Too many people give in to immediate gratification and pleasures because its "only a few bucks here or there." Your goal is accumulation, so every little step in this direction does make a difference. Being frugal and intentional does not mean living a deprived life void of any joy. So many people mindlessly stumble through life with no sense of direction or destination - just stop doing that and the financial course of your life is forever changed to be more rewarding. Take stock of yourself and financial position, then make changes where needed.
Purchasing a stock may seem straightforward, but selecting the correct stock without a proven strategy can be exceedingly challenging. I've been working on expanding my $210K portfolio for a while, and my primary obstacle is the lack of clear entry and exit strategies. Any advice on this matter would be greatly appreciated.
the strategies are quite rigorous for the regular-Joe. As a matter of fact, they are mostly successfully carried out by pros who have had a great deal of skillset/knowledge to pull such trades off.
I agree, having a brokerage advisor for investing is genius! Amidst the financial crisis in 2008, I was really having investing nightmare prior touching base with a advisor. In a nutshell, i've accrued over $2m with the help of my advisor from an initial $350k investment.
Please can you leave the info of your lnvestment advsor here? I’m in dire need for one
Laila artine kassardjian' is the licensed coach I use. Just research the name. You'd find necessary details to work with a correspondence to set up an appointment.
Thank you for this Pointer. It was easy to find your handler, She seems very proficient and flexible. I booked a call session with her.
70 y.o. and yeah, been there, done that, BUT always keep in mind :: they WILL move the cheese on you at some point at least once - you can bank on it. Diversify your income streams, across asset classes and within asset classes. It's not as efficient for growth but it's also not as efficient in loss during downturns, either. Be as tax efficient as you can as taxes are onerous enough to reward all the effort of study.
I think you are the oldest so far. All the other people were in their 60's. Yeah I cpuld learn a lot from you folks since you have a lot more exp & knowledge
Thank you, you made me laugh out loud this morning with your comment about your foot falling asleep. At 61 I have to move regularly otherwise stuff stiffens up. Thank you for sharing this, such valuable lessons for anyone no matter their age.
Staying with your parents is what really set you up for this, most don’t have that luxury.
She says - directly after! - that there’s also living someplace cheap with roommates. I lived with 3 other dudes with questionable hygiene to hit $100k. It was… motivating. Before you announce that finding roommates isn’t an option, I’ll say stop. The idea isn’t to look for reasons why you can’t, it’s to look for ways that you can. The person with the best vantage point for possible solutions is the one smack dab in the middle of your situation: you. Watch “Apollo 13” and/or “The Martian” for inspiration.
I was under the impression that that was 'normal' these days? That's what all the complaints on the net seem to suggest - no one can afford to move out of the parental home.
@@dallassukerkin6878 they’re lucky
It's actually her entire philosophy. She runs her life like a business even when she went back to broke after the house, she got her money back up. The average person can't do it, because they lack discipline
@TT-xz5sy It looks like you missed the point. What is your goal? Everyone can save something. It is a matter of discipline and time. Staying away from debt is major. After you save a certain sum, you can invest.
In 10 years I saved $250,000 in mutual funds, which after 2 major events 9/11 and financial meltdown, it dropped to $105,000 and it took 12 years to fully recover loss.
Mutual funds are meant to be the safe option but actually have way worse returns than other options, a big reason because of their high fees. Maybe look into some other avenues she mentioned here (eg. ETFs)
If you have invested 250000 in 2001, you would have 1.4m now
This was such a great no BS inspirational video. I had a bad day yesterday because I feel like none of my side hustles are materializing and I'm just wasting time and money, but this video just motivated me. Thank you!
What side hustles are you trying to do?
Brilliant video, Nicole! Saving for the sake of saving can be a goal for everyone, and everything you presented should be taught in schools. Young people shouldn't get their education about saving, investing, RRSPs, TFSAs, etc. at their local bank, where employees are more skilled at upselling than teaching.
I would love to be able to do this but I am in the red now and it will take me another three years to get to the positive side…however, watching channels like this and this one in particular, I can say that I will NEVER be in more debt than I am today…the respect this young person has shown for money has in a very big and surprising way, changed me.
My 20's got me into the red too, but after learning about money on my 30's, I worked hard to get out of debt, and now doing a little investing. The biggest motivier I found was to calculate the amount of interest I'd pay, and for how long I'd be making payments to a bank if I only made min payments. And then if I made bigger payments. I did a side job to pay more which saved me about $5000 in interest and cut of years of payments too. This helped me see the light at the end of the tunnel.
Your an inspiration even to this 60 year old from the UK! Thank you! 👏🏾👏🏾
I love how much you love Levi! Heartwarming! Great content as always. ❤❤
I just found your channel and I'm really enjoying it! Thanks for reintroducing these principles.
Sunday excellence as always. Levi is so blessed. Thanks for the great content.
You gave me a new hope of being able to one day buy my own place again! even if i'm already 41. i'm far from putting aside 1000 a month, but at least i'm saving ^^
You look naturally charming. Meanwhile a lot of us go in debt to try to fit the beauty standards. You’re definitely winning on every levels.
Another great video! thanks for sharing your wisdom and insights and Levi was such an adorable baby!
Keep on ROCKING Nicole! Such great straightforward info! Love the solid recommendations!
My so - who is on the spectrum - thinks she is too (& he thinks she is attractive, his type). People - give others a bit of grace. We aren’t all wired the same way. Maybe she is like my son - high IQ & on the spectrum.✌🏽😎🇺🇸
Your next 100K will be much easier and faster and the following 100K even faster and so on. Well done
I find you calming ❤ subscribed!
You’re killing it! Congrats!
Dear Nicole: I really admire you! My major goal was to have a wonderful family of 5 kids. I put myself through college and worked full-time. Over the years I got better jobs and invested the money! My kids, I'm so proud of them. They all went to college and make a lot more money than I ever did which I am proud of! Plus they have wonderful families and lots of kids! We are all LDS and enjoy our families! My goals are really different now. I've made and invested to the point that I really don't need any more investments. I actually try and spend some money each on Amazon! My kids and friends can always use a few things. My goal is to not be the richest guy in the cemetery! Good luck to you and may you enjoy your live!
Speaking as a saver myself Nicole do not forget about the government programs to defer taxes on earned income such as RRSP's and TSFA's the later being one of the best things for younger people to use to grow financial equity for themselves. Also starting a small numbered company to buy and sell stuff or just run You tube channels might be the way to go as a private company you own allows you to deduct all kinds of costs; the government is good enough that it can also loose money for about 5 years before they suggest you close it. Owning your own business is the fastest way to become wealthy.
I’ve been following you for a while now and you’ve made a massive difference to the way I handle my finances. Thank you, Nicole!
You're a winner ! Love your sense of humour!
I like that I just type A and youtube knows to put on the Sunday new According to Nicole
Awe Levi as a puppy! Glad you are making sure his life and yours are safe and secure. Glad he is so fit and spry at his age. Talking of age - i retired at 58. Best thing ever! Hugs to Levi!
Hey Nicole, I have a friendly bit of advice. I remember you saying in a Q&A video that you flat iron your hair every day. I just wanted to share that if you’re not already using a heat protectant on your hair every time you flat iron (and every time you blow dry if you also do that), then I highly urge you to get one. If you want any recommendations on what I personally use (I also flat iron and blow dry my hair), let me know and I’d be happy to share if you’re interested. Using a heat protectant is something hair stylists should always tell their new clients, because there are so many people who do not realize the damage they can avoid (and subsequent healthy length they can achieve) by using a heat protectant product every time they apply heat to their hair. It was something I learned the hard way (on my own) back in my mid-teens….I would get frequent trims back then because the ends of my hair would always end up looking dry and fried (and eventually even smell like burned hair!) because I didn’t know what a heat protectant product was nor that I needed to use it when I blow dried and flat ironed my hair. One time when I got a trim I finally just asked my hair stylist at the time what I can do to keep that from happening. She recommended me a heat protectant product (and an at-home conditioning / strengthening treatment), and my hair has never been dry, brittle, or “fried” since then. Hope this helps ❤
Studying a degree that I don't even use in my job today was the biggest scam I've ever seen. Because the idea of moving out of home living in a flat, putting more financial stress on while studying was not good for me. My goal now is to build my stocks account, pay off debt, have a few months of pay sitting in my everyday account, stack silver and gold. Been a slow start but definitely getting there :)
That's great Nicole. Awesome
Wow. You're amazing 👏🏽 ❤🎉
Congrats on all your accomplishments! Your personal experience is a great role model for others.
New to your channel and absolutely loved this. You’re so disciplined, it’s very impressive!
Just stumbled on your channel. You definitely deserve a follow! Took me a lifetime to learn these skills. Well done!
Dumped my bigger house and bought a smaller house and hacked it. Covered my bills and food.
Dumped my 6 fig job, went to casual on call. Extremely tax efficient .took my new found time and learned how to hussle trade hack love life
You are so right wish more people can see what your doing as inspiring. I love how genuine and real you are keep it up you got a new subscriber.
This is my life. I never shared with a living with roommates, but everything she said is what I did. It's a great life! It's amazingly freeing and stress free. It's like you can stop saving and have no money, and then you jump on it again. Money is a tool.
I appreciate your content - it keeps me motivated!!
Another informative video by Ms.Nicole 😊
Yes, She's a great teacher, She supplies first hand knowledge that people can use in their own lives!! Keep up the good work!!
Thank you so much for precious information!!! ❤
Its nice to know you are in Canada.
Thanks for telling Us about Corse Carrers. That's super helpful!
It’s the best. Don’t go into debt to try to get out of debt!!
Good advice on cars.... especially, some modern cars will go the distance IF they are well maintained from the previous owners. (all 3 of my vehicles have more than 150k miles each) ....
Having trusted mechanics helps ALOT, these are the guys that are always booked because their customers are so loyal...they are worth the research in finding them.
Since you mentioned "getting educated" - I acquired a Real Estate License ...just to have knowledge on buying a home ...it was relatively inexpensive, a handful of classes.
My current home was bought with "no-money" down... Having employment and a good credit rating will get your foot in the door with the bank or mortgage lender.
The 3 most important things in a Real Estate Investment:
1. Location
2. Location
3. Location
(Not being in a flood zone, not having termites or radon, a good roof and hvac/ newer roof...a solid foundation, etc are all very important if you are on a budget.)
AND- if you can buy it with little to no money down- AND it has a rental unit on the property as well.... The rental could pay for the mortgage.... and thus , more money to invest $$.
Well done 👏 I'm on my journey now!
Wow! Very inspirational. Thanks Nicole. :)
I believe your Chanel will take off...keep it up.
Hi 🌸 I’m a new subscriber. I’m glad I came across your videos. I’m sharing them with my nieces. Thank you. 🙏🏼 ❤
I really like your videos. Inspirational, encouraging, honest, useful information, logical and real. thank you.
I have two children in college, so that's basically the goal, making sure they have a good start in life. We have a mid-terrace house, all paid for, now two years ago we bought an appartment in the city where the children study, so they both live there, and my daughter wants to live there later on, so it's already a headstart, now we'll see what my son will do after he graduates. Biggest advantage is that we don't have to pay rent. I'm proud of my daughter, we did some electricity wiring together, also saved some money that way, somehow my daughter is more serious in such matters, I hope my son also becomes a bit more practical later on.
Great video and info. Thanks.
Well, here's the thing about life: unfortunately, you don't get to do whatever you want to do whenever you want to do it.
Borat said it best..."very nice!" Thanks for the insights.
Well done you, great work.
Inspirational. To learn about stocks and investing, I watched a few UA-cams and got an online trading app and then put $100 on my account. I then bought $10 worth of 10 different companies to see what they'd do. After a few months, I sold 8 and then started buying whole shares of the companies i liked or ETFs. I'm going to go back to buying a few hundred dollars worth of shares every payday. In the last 3 yrs, i have several shares that are up a lot, like from $200 to $400 per share. It's wild that's done that well.
I need to set a goal. I think early retirement is a good one. I also just need to save so I can travel to the places I want to go once a year.
Simply put, GOOD ADVICE! 🙂
Great vid! Yes when you have 100k+ FU money is very freeing career or business wise.
Kudos to you! I am proud of you.
Another great video. Always some new ideas to make achieving goals seem so simple. You rock!
Congrats Nicole 👏
Good for you Nicole, you’re a smart cookie, true wealth is having enough money to afford to spend your time how you want to, sounds like you’re pretty much there, you have a very wise head on young shoulders, you should be very proud of yourself
I had the same problem as you, if I knew how to invest back in 2011, I would be rich by now, back then bitcoin was like $1, instead I invested in walmart stock believing I was going to be rich in ten years 😂
My investment grew substantially but not enough, anyways I like my state right now because I learned a lot in these years, I do prefer an stable income over becoming rich overnight
You are awesome! Congratulations!
set very specific goals *noted* thank you!!!
I totally relate to this, I am also a natural saver, frugal, etc. I've been accumulating my savings but I had no idea of anything about investing it, I didn't even know what a high yields savings account was, didn't even know they existed, but once I started accumulating more savings I believed it was time to find a way to put it to work for me, then after investigating a bit, then found the possibility of compound interest, then I asked myself "how come I didn't know about this and how come I didn't start this years ago?" I think it's because NOBODY around me talks about it because NOBODY knows, because people around me just work on their jobs to spend on things they don't need, get into debt, spend more, consume, then post in on social media to show how cool their life is (which I don't have anything against, but this means the majority of people are not into making-money-grow mentallity).
Great video! You have alot of the same debt free principles as Dave Ramsey. I'm following his plan, and hope to be debt free by October! I love that u stayed away from debt at a young age! I'm 46, and just now understanding what u implemented at a young age! Kudos to u!
Ps..Levi as a puppy ❤❤
Just found this channel! You are amazing! Thank you for the life changing advice!
Pretty much what I did in my youth. Save, save save, reward once in a while (guitars, things that retain value,) pay parents rent and insurance, and save, save, save. Now that I’m older and can not work any more, I am in ok shape with this trash economy. People spend money on things that they don’t need only to keep up with the neighbors. I do have debt on credit cards, as I used to pay off the bills in full every month, but now can not due to life. The buffer is a huge lifesaver. Save some money, kids. You won’t regret it later.
Autism helps to save money as well. Clarity without distraction.
100,000 $ in a s&p over 15 years with 1000$ a month continued investment retires you with 1M .
In order to achieve anything great, there must be a sacrifice .
Discipline is freedom
I had the same experience/awakening about how most people buy cars. I’ve also learned that people will wrap “underwater debt” into new car loans as long as they can afford the new monthly payment.
Its nice. But most of us can't save 1000 $ a month 😐 from nearly minimum wage in lots of country.
I really wish they would make a compulsory class about all of this in high school! Imaging how much better the world would be if financial dress were eliminated. I dream!
Great vid Nicole. As usual.
Stress tha is!
Wtf
Nice this is perfect timing. I still have about 16k in student loans and about 5k in credit card debt at 0% interest. I live with my family so no other major bills other than car insurance and phone bill. ’m trying to save $100k in 5 years as well so I’ll definitely take advantage of this strategy. Rn my income is about 80k for the next year and I’m hoping to make 90-100k next year when I move out so hopefully even when my expenses increase it will be cancelled out by the increase in income.
As a retiree I still have goals, strategies and plans. I enjoyed my profession a great deal. At 66 I stopped getting any joy from it and stopped cold turkey. The years of planning allowed me the luxury of going on expedition cruising. Now Mother Nature dictates the need to “hire the help required “ . We lived an interesting life and spent every farthing on educating our tots at fine schools, with great coaches and proper enrichment to optimize their future. Money well spent.
It’s hard to do when you are married and have children. I bought a house in 2022 in CA, high mortgage and a lot of bills. I earn a decent living by working a lot of overtime at my job- my wife cannot work because one of our kids is autistic and requires a lot of attention. What I can say is that investing is the key. Getting into a deferred compensation plan years ago is what allowed me to buy a home. Put away whatever you can-even if it’s only a couple hundred dollars a month- and forget about it- your $ will grow over time. Key is to play the long game and consistently put $ away- when you start making 6figures it helps as a tax shelter- either pay yourself or Uncle Sam. Choice is a no brainer
Career thing is going to be important for most people. Pick an industry that has 9o% employment, and several different employers in your area. Wanna be an actor or musician? Unless you're clearly in the top 1% of those around you - work a job, and do theatre in the park or open mic to get it out of your system. You'll live an easier life. It sucks, but it's what your friends and family or social media aren't telling you.
unfortunately, most people that have the luxury of staying at home longer with the parents don't take financial advantage of it. a young couple we went to school with lived in one of their parents basement for a decade. while others ignorantly criticized, they were saving/investing and bought 2 properties mortgage free.
Can you make a video teaching us how to invest?
If you just put 15% of your income in an SP500 Fund you'll become a millionaire!!! I love buying apple stock also : ) Do it weekly if you can
That fund is no5 available to Canadians, maybe on moomoo now?
@@gordonpi8674 BMO S&P 500 Index ETF Yes it is I just checked
@@gordonpi8674 In Canadian dollars, you can buy the VFV ETF, which tracks the S&P 500. However, don't believe it will make you a millionnaire overnight! As a long-term investment (many decades), you can expect around 7% or 8% appreciation yearly on average. This is not for day trading or short-term gains.
With a 5% annual interest rate compounded monthly, you would accumulate approximately $77,423 in 5 years by saving $38 a day.
I love your tips about cars! I drive a 2004 ford escape and it was free from my dad because he fixed it for a friend and they gave it to him! I could afford something else, but would much rather save the money! As always, a great video Nicole. Have a good week.
She's not good on car advice. Buying used you'll have many problems with that especially a Ford which break down. If you can afford it buy new Toyota cars. These will last you 20 years.
My 2005 Ford Escape has 307,000 kms
@Tony
$35k for a new Toyota or invest the $35k for twenty years let me know which is worth more after 20 years?
@@ivobiancucci4528 Yeah that will be another 17 years lol. My 1st car lasted 18 years a Suzuki Vitara I bought new. Totally worth it.
@@ivobiancucci4528 Oh ok so now I can't buy a new car because I am supposed to save money for 20 years lol. I live in Canada where rust is on my cars so I have to get rid of it as soon as it's worthless.
You're failing to realize that I can go a lot of places with my car, save time & effort when doing things. My friends have used cars because they can't afford new cars. You know what happened, the car wouldn't start. His battery died. He was in the states & to call a toll truck just to get him all the way home to Canada.
Then other friends bought old cars & they broke down as well. Too much of a hassle to fix it etc.
My goal is to pay off my rental property and then sell my California house to move where my rental house is. I can then buy another house for cash from the equity in my CA house and have 2 paid off houses. I'm shooting for 7 years. Then I can quit my current job and I will only need a part time job. More time to myself is my real goal. Plus it's just very expensive to live in San Diego and it's only possible with a decent wage job that I thankfully have. I want to get out of this rat race though.
New to the channel, excellent video. Working on paying my house off now so I have the option to reduce my hours if i CHOOSE to, only 97k to go .
Great video, what industry do you work in that allows you to keep raising rates while everyone is struggling generally? Thanks
I’m 20, and 2 goals of mine is to create enough money for as you has said to have the option of early retirement and hopefully later on when Im married that I can support not just a family but also my wife in the event she wants to be a stay at home wife
Amazing young content creator, very inspiring! Great job and keep spreading your experience! 👍