What It Takes to Be Financially Secure In America
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- Опубліковано 26 лип 2024
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What It Takes to Be Financially Secure In America
Less than 1 in 3 adults in the U.S. say they are completely financially secure. In today’s video we’ll talk about what it really means to be financially secure, how you can get there, and even how you can go BEYOND that to becoming financially independent.
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7 Steps That Can Make You A Millionaire: • 7 Steps That Can Make ...
George Kamel is a personal finance expert and co-host of The Ramsey Show. Following Ramsey’s proven money plan, George went from negative net worth to a millionaire in under 10 years. His goal is to help people spend less, save more, and avoid money traps so they can live a life with more margin, options and freedom.
This channel will simplify complex money topics, bust money myths with actual facts, and debunk the stupid financial advice you're seeing in your social media feed. All with a healthy dose of pop culture, humor, and snark.
I feel sad that even though I am investing, I don't have the brain power to dig through how each company is doing, is this a good time to buy stocks or not, my reserve of "$450K" is laying waste to inflation and I don't know what to do at this point tbh, I need solid data on market trajectory
I'll suggest you find a fiduciary or someone with experience to guide you especially in this recession.
I agree, that's the more reason I prefer my day to day invt decisions being guided by a invt-coach, seeing that their entire skillset is built around going long and short at the same time both employing risk for its asymmetrical upside and laying off risk as a hedge against the inevitable downward turns, coupled with the exclusive information/analysis they have, it's near impossible to not out-perform, been using a investment coach for over 2 years and I've netted 314% ROI.
I've been thinking of doing that, been holding on to a bunch of stocks that keeps tanking and I don't know if to keep holding or just dump them, think you inv-coach could guide me with portfolio-restructuring
Sonya lee Mitchell is the experienced fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment..
Thanks for sharing, I just looked her up on the web and I would say she really has an impressive background in investing. I will write her an e-mail shortly.
We were living paycheck to paycheck on $75k 10 years ago. Made up to $120k in 2018-19 and still basically lived paycheck to paycheck now we only make $61k and live within our means fairly comfortably, not stress free but we are blessed with a roof over our heads and food on the table. Budgeting and frugal living work.
Why income dropped that much? One of being stay at home mom or dad?
Congratulations! But, you didn’t tell us how you turned things around.
@@gpdoyonthe last sentence
@@bellabobbybob3476does it matter? That is personal. The point is that it doesn't matter how much money you make. It's about living below your meaning and budgeting..
That's why It's always good to have a financial plan, I work with a portfolio manager and fixed income planner in the US. The fixed income serves as a buffer for the volatility of the equity and also bring legitimate returns.
My husband and i make close to 90,000. We paid off the house, redid the roof, the bathrooms, drive 10 yrs old car, have a six months emergency fund. And investing more into our retirement. We're simple living people. And want to be comfortable when we retire.
Awesome. Way to be!
We are shooting for debt free this year. Saving hard for retirement. I'm planning to start putting away money outside retirement to cover our monthly bills with returns.
Property taxes, insurance, gas, food, etc.
If I can get together about $300k-400k outside retirement it's returns will cover our $24k/year in baseline bills plus inflation.
I'm calling it our cost of living fund. Like the next level past an emergency fund.
If something crazy happened and we both lost our jobs we would have no worries at all. Bills would be covered.
If we can get to offset 2x our income some day then it's time to start thinking about "early retirement".
The quantity of capital you invest, though, ultimately determines everything. With a substantial start-up budget, you could be able to earn more, Its high time one stops relying on the govt with their daily built up stories to deceive the crowd. like haven’t they done enough..
Creating wealth and financial freedom isn't as tough as many people believe. Building wealth and remaining financially stable indefinitely is a lot easier with the appropriate information. Participating in financial programs and products is the only true approach to make a high income and remain affluent indefinitely...
That is why I work with John Desmond Heppolette, who introduced me to a better Financial community, a verified agency where I learned how money works and how to create it, as well as free books, courses, and daily lectures. You also get to meet new people, which was the best decision I ever made.
This was just what I needed to see today. I've been struggling with finances for months after my divorce, and I just discovered his exceptional resume when I Googled his name. I consider it a blessing that I discovered this comment area....
The message never changes. It is rather amazing how people can't live within their means under normal circumstances. This os why personal finance needs to be a part of schools.
They teach how to behave in school but most kids have bad behavior so it’s not the schools it’s the parents!
@@iseepandas1 I'm cool with that statement. If the parents or parent lives in debt the kid just may follow.
It’s because in many places in America, the average price of a home is $500-700,000. You can’t afford that unless you make at least 200k/year.
@@4397evan just make 200k or move to Mississippi, it’s that simple! Move to the state your income can afford..
some schools teach foundations in personal finance. The high school version of financial peace
Your videos make me think about a lot of things that I haven't considered yet George, superb! I almost fell out completely in my mid 40’s but thankfully now I’m close to retiring in a satisfactory manner and have majority of my financial goals ticked.
I keep saying Graham should be concerned. A new financial influencer star is rising. He should keep it up. He's brilliant!
@@francescadelight George really does get me motivated with his videos. Makes me want to rethink my lifestyle too. Thankful for the passion and knowledge that he shares with others! We need more people like him in this world
I love listening to him, there's a lot I need to learn, I need to start making the best decisions for my future. You say you where in a crisis in your mid 40's? whats your story and how did you navigate through it? I'm in a bit of a sh*thole myself haha
@@kristennn850 well I went through a d i vorce at 46 and it basically wrecked my me, before that I never really looked at what my r e t i r e ment would be like but after the whole situation I just had to look at things differently because I knew needed to get my life together before 60 at least.
Luckily for me I was r e f erred to a p a r ticular f i r m in Colorado by an a d visor. Fast forward to today through the firm in a couple years I've been able to amass over $570k for my r e t i r ement and still going.
I make $4k after taxes. $2300 go to rent, all bills and all utilities. $1700 for all else is plenty. It helps that I used to make $2000 a month after taxes. Now I have that much left over for living. It also helps that I can always work more.
This is great content! The little can get ahead. It’s called compound interest!
Good to see the transition George to your own videos on UA-cam 👏✅👍 been enjoying the content
Wishing you the best sir
Nope
Video editor is steller, A+. Script is great. A+. you're awesome! Thank you George!
I suck in comparison 😆
I’m in a low cost state, and I’d be good with $55-60k. If I wanted to move elsewhere though, I’d probably need more.
Thank you G for all the tips and advice. Love your content!
Love your videos. Very creative funny and informative. Finally sunscribed.
Just found your show… Love it❤
Congrats to you and Whitney on the kiddo!
Love this-such great info!
Financially secure to me means paying off my house. Trying to do it in 15 years. It will save me 400k in interest alone.
I'm looking for financial independence. I still have to pay property tax and upkeep for a house, and that's just the house. I want enough money to pay our living expenses indefinitely.
Great content!
George, you need to have way more subscribers bro! Elite level content. Appreciate you!
I am from 2 1/2 years in the future he has 600,000 subscribers
Ringtone you used was my on call ringtone so I started and ended this video with high blood pressure. Lol. Enjoyed the content so you still got a sub.
I need to have a sufficient amount saved up to support myself on dividends and interest in order to feel entirely safe financially. But then given the current economic difficulties that the country is experiencing in 2023, how can we enhance our earnings during this period of adjustment? I cannot let my $680k savings vanish after putting in so much effort to accumulate them.
Well the bigger the risk, the bigger the reward and such impeccable decisions are better guided by professionals
@tommymyershoffman Yes true, I have been in touch with a brokerage Advisor. With an initial starting reserve of $80k, my advisor chooses the entry and exit commands for my portfolio, which has grown to approximately $550k.
@georgeh Not bad. I’ve been looking to switch to an advisor for a while now. Any help pointing me to who your advisor is?
@marvishaN There are a lot of independent advisors you might look into. But i work with HEATHER LEE LARIONI and I have been working together for nearly four years, and she is excellent. You could proceed with her if she satisfies your discretion. I endorse her
@georgeh She actually appears to be well-read and educated. I just did a Google search for her name and found her webpage, I appreciate you for sharing
We did all of the stuff Ramsey suggested and were happily on our way to being debt free at 55. Then a relative got severely injured, and we were forced to move to one of the most expensive areas in the western US to look after them. There is literally no suburb within 100 miles of us with affordable homes. We had to give up home ownership because what we got for our house in Chicago wasn't NEAR enough for a down payment in this new bougie area. Financial stability to ME is being able to afford to care for a relative and make a change like that without major sacrifices like... oh, I dunno, becoming a permanent renter. Being able to make a down payment on a home that's not falling down around you without cleaning out the savings you worked so hard for. We don't even have any kids.
"Making the most of the salary we already have" in one of the most expensive areas of the country (and it's not even San Francisco or New York)? We're renting. We make $125k per year. We keep saving, we keep hearing "no one gets raises this year" year after year, and home and grocery prices and interest rates just keep rising. $200k is the number we would need just to own a home, keep saving for retirement, pay for medical care, car maintenance, and afford to go out to dinner and see friends a couple of times per pay period. It's not an exaggeration.
And that's even before we talk about medical care. Americans are getting wise to the fact that most things covered by insurance don't solve health issues- they just treat symptoms. Go visit your GP and ask about getting off insulin, and they'll tell you to eat 6 servings of whole grains a day. Uh huh. If you want a healthy life, then you need to be able to afford to buy organic vegetables, grass-fed meats (and that just levels the playing field between us and Europe, where citizens AREN'T being poisoned by the food supply with RoundUp) and see practitioners who are actually interested in solving problems. That costs major money. You should do a video on what it really takes to stay healthy in America, and why the mainstream medical system (which is ALREADY expensive) isn't enough.
🎯
Agree about the lies we were force fed all our life by our government about health. But why did you not just move the relative to where you were? I would move back...
I am a nurse and my husband is a dietitian. I agree that our healthcare system is broken, but you can absolutely eat healthy on a budget. Vegetables and fruit don't have to be organic, but if that's important to you, try gardening. Rice based meals are cheap and full of fiber depending on the type of rice. Red meat is expensive and isn't the best option for health anyway. Chicken and turkey are cheaper/better for heart health. Eating less meat is generally better for health and definitely better for the budget. Tofu and tempeh are cheap options as are beans.
@@saradeaton687 Grandkids are here, and there was no way they were leaving. Grandkids trump kids every time.
@@cassandrajosettehall Depending on your genetics, red meat is just fine. My CAC score is zero, my triglycerides went down to 49 on the carnivore diet. I have a slow COMT gene and a slow glutathione pathway, so veggies really do have to be organic. The conventional routes to health aren't working, so each individual has to hack what's best for them. This is expensive, both to test for and treat. :(
This was another strong reason why I will keep watching you for eternity ♾️
Very passionate about this topic and most people I talk to about it are living a pipe dream and/or are not honest with themselves. I take all of our expenditures very seriously.
Thank you Habibi!
🐫 This large ruminating hoofed mammal 'bout to help me turn my life around. Thanks George. Channel is great
Graham should be concerned. A new financial influencer star is rising. Keep it up!
Graham is more original (when he’s not doing Caleb reaction videos), George is Dave with memes. There’s room for both.
George I Love you and All your team, great content! I'm a followers from Guatemala.
We earn just a little over 200k and we feel comfortable and secure. But we did pay off our mortgage 2 years ago, have 2 year worth of emergency fund saved, 0 debt of any kind, max out our retirement accounts each year, fund 2 kids 529 and extra money we fund a taxable account. My wife only works 2 days a week as well to spend time and watch the kids as well. We do eat out but not too often but doesn't really phase us but we do budget and watch our spending for sure. No life style creep either.
Nicely done! 🎉
👍
Do you live in a low cost of living area?
@@IrisP989 not the lowest but decent low in Texas. Our home is worth about 430k for a 2235 sq ft. Inflation drove it high lately and demand for a house in our neighborhood is extremely high. It will sell within 3-5 days as the schools are excellent.
Like the conversation and bringing the term “financially secure” down to earth.
I will say you brushed over those numbers like it was no biggie. Less than 31% (1/3 of %93) of millionaires, according to your research, made less than 6 figures. That’s a big deal. The majority of millionaires, by a long shot, are pulling in big salaries.
Advise overall still stands, though.
Thanks for keeping this conversation funny and relevant.
One third is a big enough sample size to suggest that most people can do it.
@@guyman2135except most of those millionaires are from real estate… before all corporate jumped into real estate
Lots of teachers are millionaires, and they don't make diddly squat! They lived on less than they made, and invested in their retirement account during their entire careers. Consistency and Compound Interest! Bazinga!
@@donnahampton3632my wife was a teacher, they make great money and have great benefits.
You keep it short, sharp and you’re sweet too George. Enjoy getting my dose of motivation to financial security everyday from your channel. You’re prescribing, I’m subscribing.
Im making 90K single, and my rent is 500 bucks a month. A bought a brand new accord which I will pay in 6 months. It still pretty hard to get by trying to pay out asap. I would never do this if I was married or had kids. It is also a bummer I already lost 5K for depreciation . Never buy a brand new car even if you can
I clicked like because of the celery/ salary skit 😂 the rest was good info too
5:15. As a wrestling fan and former local pro wrestler, that song is with the wrong McMahon. Lol
“Perrrrfect”
Building wealth and achieving financial independence is more achievable than commonly perceived. With access to accurate information, establishing lasting financial stability and prosperity becomes attainable. Engaging in prudent investment remains a primary avenue for generating substantial income and sustaining enduring wealth.
To begin building wealth, define your goals and assess your risk tolerance, either independently or with a financial advisor. By gaining insights into savings and investments and creating a clear plan, you can attain financial stability and effective income management.
Hiring a skilled financial advisor like "Mary Onita Wier" can lead to success, as evidenced by my seven-figure gain in just the first quarter of this year, despite market concerns.
@@ThomasChai05 I've been thinking about going that route. I have a lot of stocks that I have maintained, but they are beginning to lose value, so I'm not sure if I should hold onto them or sell them. I feel hiring your investment coach would make it easier to restructure my portfolio.
Credits to "Mary Onita Wier" one of the best portfolio managers out there. She’s well known, you should look her up.
Thanks, I just googled her I'm really impressed with her credentials. I reached out to her since I need all the assistance I can get.
Get out of debt, your money will go further, and you'll feel better financially.
With 3 times my annual salary I’d be living like a king
Not really. Instead of a $20k car you’d buy one for $60k. To buy a house you’d need to save up a lot. Then factor in costs for raising children. You’d scrape by with a modest amount saved each month with all that.
@@BRBallin1you're making a lot of assumptions.
@@BRBallin1how do you know what "they" would do?
@dec1slh The law of averages says this is the highest possible outcome if their salary tripled.
@nsant ok, but what does that have to do with what the other commenter said about how others would spend their money??????
Wow. Would feel nice to feel Financially secure and financially free!!! 😂🎉 Hope it happens for everyone!!!
I feel like you’ve turned these intros up to an 11 on effort. Great work making us laugh 😂
While income isn't everything, it's a big lever. The more money you have coming in, the more money you have to invest, as well. At some point, however, there's diminishing returns in MOST industries. That is - in order to be paid more, you're going to sacrifice more. Bigger salaries usually come with more responsibilities - such as longer hours, more travel, higher stress, etc. I believe the trick in life is maximizing your opportunities (e.g., climbing the ladder to the best of your abilities) while not sacrificing more than you'd like (e.g., too much stress, time away from family). You have to know where the balance is... because you can easily find yourself on the wrong side of it.
In most cases, people look at their boss, or boss's boss, or even the CEO, and say, "I'd like to make what they're making." Sure you would. But that's hardly the whole equation. You need to sign up for the entire lifestyle. For me, personally, I know where balance lies. I'm maximizing opportunity while not sacrificing everything at the same time. Spend time figuring this out, and it'll pay dividends.
We are about 140k and we feel secure. Spend less than you make folks!
To feel completely financially secure I need enough money in savings to live off of the dividends/interest. It has nothing to do with how much I earn, it has to do with how much passive income I have.
Thats getting into financially independent category
I agree ... but most people can't even imagine that. My goal is to earn 60k per year in interest/dividends. I don't even make all that much now but, I'm already pretty close to my goal and I'm only 39.
Once we reached $160+ we have felt like we live comfortably. We’ve made $250k and that felt very comfortable
We'll never feel comfortable until we are financially independent.
I don't get comfort from a paycheck. That's how people get themselves into trouble. They inflate their lifestyle based on the paycheck then the paycheck goes away. That's a false sense of security. Even paying off the house isn't enough. We need to be financially independent, no exceptions.
This was hilarious 😂
I wish i bought a house prior to this last couple years. Its so unfair the time i want to buy is the worst time ever. People who bought in 2018-19 are so lucky.
George, I think you should know that most people in the Midwest, in the country at least, are living on 40-50k a year. 71k would be amazing!!!
1:43 Also here for the dumb and dumber clips (best movie ever IMO)
Give every dollar a job...great PR motto and sound advice, too.
What’s her info?
I really need this
True.
3x the average makes sense to me. You spend 1/3, you invest 1/3, and you pay 1/3 in taxes.
I feel secure on $767.06/month pension. I even have some left over most months which I use when something unexpected comes up. How do other people do?
People spend 3 times their income. People have forgotten delayed gratification and sacrifice.
i dont...but then again my income is so low I barely have money for food and I refuse to get food stamps
@@fortheloveofnoise if you are not strong enough, be fast enough, if you are not fast enough, be smart enough, if you are not smart enough, work hard enough.
My father engrained this into me and my brothers at a young age. Maybe it might help you.
Anytime I hear Wii music in a video my respect for the channel instantly goes up
From my own experience, I think most people just overspend.
Anecdotal evidence, but
My ex-girlfriend was with me when I was in med school and residency making peanuts. She said we needed to make more.
When i finished residency and started making 257k, it still wasn't enough. Her lifestyle spending increased with the raises.
So, admittedly, I am biased, but I believe many people, especially people in the 80-120k price range have poor spending habits and inflate their lifestyle to match their paycheck.
Like i know people personally who make in the 80-120k established range who went out and financed houses i wouldn't feel comfortable financing on my salary.
Why? Because it makes them look important, prestigious, and wealthy. But in reality they are living paycheck to paycheck with no savings, on a livable salary because they are chasing prestige and trying to keep up with the Joneses.
Again, this is just anecdotal evidence i have witnessed near my small city. But i would suspect the same holds true for over half of people regardless of where they live.
I've certainly seen the same. And many of these people aren't even making 80k.
A lot of people are overpaying for rent because housing affordability issues. Sometimes overspending is not by choice.
@@edema.3418 I would even say that number is inflated by people going for luxury apartments, town homes, and large single families when other nice places in good areas are available for rent for less. But many like their lifestyle as it is and won't so they choose to spend nearly 50% of income on living rather than 30% when, especially for those in the salary range I listed, there are options avaliable. That's why I specifically chose that group rather than low income. That group has the means to save yet very commonly over spends to maintain a look of importance.
So just solely from my own anecdotal evidence, the people in the 80-120k range, more times than not, they over spend by choice
Pretty Hard for people to start saving that make $40000 per year pre tax with $1500 per month rent taking 40% of there take home pay
Sounds like you need a better job or move to a lower cost area.
That was me last year, I made 36k a year. Now I make 78k a year. I down size my living I work 90hr a week. It's not for everyone some people enjoy complain. I will work like this for 10years. I hope to make 90k next year but live under 27k. I want to enjoy my 40s+ that's my goal.
There are 24 hours in a day
@@frederickvalencia4976 Great 90 hours a week, how does your wife and kids like it.
@@frederickvalencia4976 I'm not gonna be a slave for some millionare sitting on his butt at home paying below poverty wages after a 40 hr work week with nothing good to offer for health insurance that's always been my rule
I will feel financially secure when my investments make more than my income.
Waiting for that day too!
@@robloxvids2233 that should be the goal of working. i wish i knew that when i was 20
Well, the majority of Americans need more than what the average makes. The majority of Americans are living paycheck to paycheck and can't afford an extra $400-$1000 emergency expense. The issue is not just the $5 latte. It is obvious that people should manage their money, however a lot of this rhetoric is gaslighting. People in general have less buying power than they did in past generation, and on top of that have massive student loan, credit card, car loans, housing affordability issues, and god-forbid you have a chronic illness and need to go to the doctor on a regular basis. You do need more money than what you are probably getting, but telling you to stop going to Starbucks is a lot cheaper for big businesses than to align your paycheck with the cost of living.
A million dollars net worth is nothing in Silicon Valley. Cost of living is so high, that you will barely feel like a lower middle class person.
Eating celery is the key to frugal living and financial security
What's the background music at the beginning of this video?
Wii theme
easy math
take average mortgage monthly payment for area.. or your mortgage monthly amount knowing it should be 30% of monthly income. so do a easy 4x of monthly mortgage to be above that.. where mortgage is just 25% of income, meaning you have spare income to save, enjoy
calculate that amount over 12 months to get to salary after tax
math
3.3x to break even/survive
4x. to secure/prosper
Giving up my eye cream?! Now you’ve crossed the line.
Then just cut out a Starbucks coffee.
@@ilotefft2526 exactly what I’ll do. Thanks.
Can you make a video talking about high-yield saving accounts.
What’s her info?
I really need this.
It means never having to worry about money if you spend reasonable and take vacations and experiences each year.
I’m having deja vu; pretty sure Rachel Cruze made a video on the same thing a few days ago!…
I make 250k and feel broke in CA
Someone's not doing a budget
I make 150K in CA within the LA area and feel financially secure, so I don’t know what your circumstances are. 😅
😳
For gods sake its not how much you make its how mich you keep. There is a salary range that starts to make things easier but you still need to live within your means.
I think it’s both. You need to have a plan, a budget and live below your means and prosper on your job . If your job can’t give you what you deserve, then either work another or find a sales job
If I made at least 65,000 a year I can live off of that no sweat! Being on my current budget and spending habits 65,000 I can live like a humbled king.
I don't understand how people are making 150k+ a year and are in so much debt 🤷♂️
because they are idiots, plain and simple. I make much much less than 65k a yeat
Me too. My house would be paid off in three years with that kind of salary. That’s life changing salary for me.
Here comes the 233k followers 🍀 😀
I did the math for my family and our number is $96k a year to have the perfect finances. Vacations, spa days, a lot of savings, bills paid. But $70k to be more comfortable due to inflation so about $10k more a year.
Great comment! Very few people will actually go through the exercise to know how much income is required for their family and lifestyle. I've done it as well, and it is important to know in order to plan a future and where one wants to be.
@@adventuresofrob5989 The question has been posed:
How much Cash not to work and be stay at home parents?
It is ~$85K/yr
Here in the DMV $233k isn't what its all cracked up to be 😂. In all seriousness, "...Feel Comfortable or Financially Secure" to these people surveyed must mean eating out multiple times daily, purchasing new everything, having little will power when it comes to saying "no" to buying "stuff" and barely if at all budgeting.
That's soup kitchen $$ in the DMV.😂
I can say I make $80k, family of 4 single income and we make it with budgeting and being frugal but it’s not easy. Id say I’d feel secure with another 20k a year
Yup, it’s all the “extras” that wreck it. Are you eating out multiple times a week? Are you buying expensive coffee? I am not saying everyone fits the same mold, but a solid majority of folks who feel insecure are making not-optimal decisions.
We’re working on making our several month emergency fund right now. I try to limit the excessive spending. I doubt I’ll be one of those millionaires because I’m so late in the game not investing beyond my work’s 401k but if I live comfortably with a job I’ll be fine.
A little irate about the Bank Rate survey methodology?
Celery is underrated, and so is this channel.
very bad for you tho
I would imagine most want an income as such so they can "do more."
I wasn't financial free until my 40’s and I’m still in my late 40’s, bought my second house already, earn on a monthly basis via my investment all thanks to my adviser Lisa Rosa Cavanagh, and got 5 out of 5 goals, just hope it encourages someone that it doesn’t matter if you don’t have any of them right now, you can start TODAY regardless your age INVEST and change your future! Investing in the financial market is a grand choice I made. Great video!
I looked up Lisa Rosa Cavanagh on the internet out of curiosity; she has a strong résumé.
Truly It's all about using assets with compound interest to amass riches.
work hard in your 20's. Your 30's+ will thank you tremendously.
did a quick search and found her webpage. I must say her resume is pretty impressive.. will be writing her too
Since Biden took office, there seem to have been more unfavorable results in America. These results include effects on the markets, such as price declines and sharp increases in inflation, as well as bank failures. I wonder if the sudden increase in interest rates will help value investors or if it would be wiser to stay away from the stock and financial markets for the time being.
To "buy the dip" It will be profitable in the long run. However, investors should be wary of the bull run. It is advisable to connect with a skilled adviser to fulfill your growth objectives and prevent mistakes. High interest rates typically result in lower stock prices.
I truly enjoy having a portfolio coach to help me make market judgments on a daily basis. They possess a special combination of abilities that enable them to take both long and short positions, benefiting from the possibility of significant gains while also safeguarding against downward turns. I have had a portfolio coach for more than two years and throughout that time I've actually earned over $645k. It was a wonderful experience!
@@hunter-bourke21 How can I participate in this? I sincerely aspire to establish a secure financial future and am eager to participate. Who is the driving force behind your success?
Camille Alicia Garcia, maintains an online presence that can be easily found through a simple search of her name on the internet.
@@hunter-bourke21 Thanks for sharing, I just looked her up on the web and I would say she really has an impressive background in investing. I will write her an e-mail shortly.
No debt except mortgage. Using 50-20-30. I need $5832,28. And am stuck at 2765,- ouch
If most people got a raise to make $233k they would drive range rovers, have a pool, and still be broke as a joke and swimming in debt
It comes to that $233k number because of blended cost of living, average people’s perception of “needs” ie-$500-1000 car payments and daily $8 Starbucks. It’s my understanding most of America isn’t as expensive as NYC, Nashville, or San Francisco… so that also shoots it up. Living within your means doesn’t require $200k for 90% of regular Americans… without debt, that number would be easily 1/3 or less… we are just so accustomed to being in sever debt that we need to earn so much to pay minimums that we never get ahead… rather than living in the suck for a while and being at peace with less.
How much do you need to pay for a place to live, utilities, various insurances, food, savings, plus a little to go nuts with? Everyone is going to have a different answer.
Wonder how much the cost of housing, child care, health care and college factored in to the folks surveyed.
$250k gross here, save 10%, health insurance is almost 30k. Taxes are insane, feel broke all the time. Don't take vacations, don't buy expensive clothes, don't go out and do anything. Just work 60-80 hours 6 months of the year and constantly grinding the rest. 4 kids, wife stays at home, can't afford a sitter or anything. Life sucks.
Opening...🤣😂
Employed me has sufficient funds for day to day life. It's retired me that I worry about. 😏
What???? 233k to feel financially secure? I have to do my own poll on this because that seems too insane.
Depends on where you live in the U.S.
New York is expensive. If I sold my house and moved out of state I would be able to be financially secure.
Is 233k earned income or total income including other income sources?
Bill nye the science guy vibes lol
Honestly huge compliment ty ty
The biggest point is that every 18 year old comes out of high school completely Fucking clueless about the real world and we all fuck it up. Those 2-5 years we fucked up takes 20 to recover.
If our education system would improve so would everything else it’s simple.
We have not changed our system in over 100 years our classes and courses are the same. With just a little bit of changes to history to fit the narrative.
Make every student take a financial literacy class or something along those lines a real life applications class so people aren’t fucked
As somebody who makes about 50K year since I work 60 hours a week to make that amount. I'm living relatively decently. I'm not living like a king or anything but I'm not really struggling now much now. I will say if I were to lose my job or some emergency popped up. I wouldn't afford to live too long. Off of what I have saved app but I feel like if I could double or even triple my salary. I think that alone would be more than enough. I don't really think you need 233 grand a year to live. Comfortably you kinda just need about a 100 to maybe a 150 Max.
I could live very comfortably for the rest of my life on 100k... right now i make half that and do pretty well...
Knee replacement, breast cancer, pacemaker,
$760K hospital bill, $300 max out of pocket>>> $2200/mo premium
which my former employer pays.
The cost of living goes up sharply over 70.
@@aolvaar8792 thanks for the encouragement😉
When you realize that families making $40k a year are surviving but you are make $80k a year and barley surviving the problem is you.
Impossible to live on 40 with a family (3 or more)
They are def on government support than. Before you say "I know people" you do not not the whole story. You are also not the "40k family". Good day
@@JuanMejia-md8re it's absolutely not impossible and yes we are. Sure you don't know someone's whole story but that has nothing to do with it. Millions of families live off of that every year and surprisingly there isn't millions of mass grave sites of us living on $40k.
My friends who have 40k coming in after taxes also have lots of social supports. Free school lunch, State benefits for food, State Health plan for their kids and more. That doesn't make it easy, but in our area 40k for a family of 4 is practically poverty. No one owns a home on 40k. No one can save up for a downpayment when rent on a crummy 2 bedroom 2 bath is 1750 a month.
@@JuanMejia-md8reit all depends on where they live and how they live.
Knew a couple in lower Alabama, wife worked, husband stayed home with the baby. But he also grew a garden, hunted, they owned 1 20 year old car, had no pets, rented a single wide for $650 and the husband occasionally would help the landlord for a little off that.
So they saved a lot on food, child care, pet care, and had cheap rent the saved on occasionally.
And lived on her 41k.
While not typical, it is possible in some areas of the country.
And that's not even looking at low income families that cut out a lot of necessities to survive
@@jacksonfamily678 $43K/yr take home (CTC pays the taxes)
In 2011, I bought an unmarketable Fannie Mae foreclosure for $50K, now $500K
$326/mo PITI
wife and 4 kids,
Retired in 2018
It depends on too many factors to settle on a single number that satisfies anybody’s needs or to compare to others. Our household gross’, not taking home but gross, a little over 100k a year with two kids. We’re treading water. Paying for things, covering bills. Not growing wealth. If we were single, even without kids we’d both be broke. Our house and vehicles are not changing . Kid expenses are fixed. Not able to save much.
Are you working the "baby steps" of the Ramsey Solutions plan? Your comment sounds more like an income problem then a debt problem, and that's where I was 4 short years ago... Now 100% debt free and making more/saving/investing more. It is absolutely possible, but takes discipline and effort!
Do you have a budget?? You’ll never be free as long as you have debt.
Hear, hear. I’m a Gen Xer, and my parents were making a combined income of $100k when they both retired. They are boomers, and they are very comfortable now.
Hubby and I grew up thinking $100k was the goal to shoot for for a couple without kids. Ha. We don’t have kids and we struggle, and I can only imagine what you’re spending on yours, and that’s before college. Completely get it.
3x my current income. I'd live very comfortably. Or buy stupid shit I don't need. Not sure.
I make $233,000 per year. Half of it comes from my triple net real estate commercial property. The other half from my work from home government job. My wife a school teacher makes $70,000. I drive a 12 year old truck, house paid off, commercial property paid off and money in the bank. This is not rocket science folks.
Is that figure pre or post tax?
Very odd that I was ACTUALLY eating celery when I clicked on this video
George, Im curious of those who are Net-worth millionaires are married couples and how many were single people?
1/3 rd made less than 100k a year. that means 2/3rds made more than 100k. and sure if you started investing in 1978 working as a teacher\government job who gets a pension plan paid for and is married to an engineer, you are a millionaire now. too bad $1M today is worth $40k a year in retirement. that is not exactly living very well. with social security they get to make $70K a year. not exactly living a dream retirement. you need to retire a multimillionaire in today's world.