dOn'T SeLL YoUr TimE fOr mOnEy!!
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- Опубліковано 27 вер 2024
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How many times have you heard some variation of this phrase “don’t sell your time for money”. This is a finance bro way of saying don’t make money exclusively from a source where you get paid X amount of dollars for Y amount of work which is basically every job. There are various reasons given for why selling your time for money is a bad idea like you only have so many hours a day you can work, so
trading your time for money limits your potential income
trading your time for money also makes you more financially vulnerable if you are unable to work
and its really hard to sell a course on trading your time for money unless you’re a college
although maybe they don’t say that last one out loud.
The alternative to trading your time for money is usually investing, starting a business, living a wildly alternative lifestyle or some combination of all three of these things.
But I am here to tell you that while this very broad phrase might have some merit in specific situations, it’s pretty much complete bullshit and you really shouldn’t take anybody who says it too seriously.
At best the phrase “don’t sell your time for money” is just another example of hustle bros needlessly bashing on regular day jobs that provide stable living to a majority of Americans. It also perpetuates the idea that simply working a full-time job is not good enough, and that a side hustle or whole extra business is mandatory to get ahead these days.
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#business #investing #passiveincome
Edited By: Andrew Gonzales
Music Courtesy of: Epidemic Sound
Select Footage Courtesy of: Getty Images
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Never forget for every college dropout that made billions there are thousands of dropouts that never made it
make it millions of dropouts
Never forget that almost 100 % of these successful drop outs built quite a network that helped them succeed
And there are a lot of college dropout Elizabeth Holmes too.
Very well put.
Never forget the college graduates that didnt make it. At the end of the day want to be wealth work your ass off with things that will build wealth
Beware of advice from rich people. They don't like competition.
Love the cat
Such a good quote, il steal it
“… then I have truly failed to teach you how money works.”
He said it! He said the thing!
Wow wow wow wow…wow
Well that was super easy, barely an inconvenience.
That’s the name id the channel!
Vrabo How Money Works! This is the moment of a decade.
Learning how money works is tight!
Some of my most deepest depressions came from me believing this bullshit from influencers. Thank you for speaking about this. People feel like shit because they have no passive income, while the truth is mostly what was stated here.
I wish I was anxious about such trivial stuff
The problem isn’t the influencers but your mindset who gets depressed because they don’t have passive income lol
@@luisandrade2254 The problem is both. The influencers peddles stupid lies and people believe the stupid lies.
Agreed, true passive may not exist. Even without time exchange, there is usually responsibility and your name at stake. I harvest the "time" of animals for my business, while it can be passive and they are still working while I sleep, the responsibility of caring for these animals is real. But it is very fulfilling!
You should Definitely trade your time for money starting out. You could then save, build an emergency fund, pay down debts and look for an investment or start a business on the side, but WHILE you're still working. That way if the business or investment fails, you still have the safety net of your job to fall back on.
Semi-passive income exists (rental income, dividends, money from a business, etc.) but it takes years to build to the point you can then stop trading your time for money.
How money works: the boring stuff like...
Me an accountant: please don't say accounting
How money works: ... Accounting
🤣
I feel you. I’m a fan of Excel and everybody thinks it’s so boring. But that app rocks! 😭
So, you agree?
it is boring tho.
Why you gotta highlight this fact tho😢
Kind of as a side note, "build skills doing a job, then start your own business using them" is such a simple concept yet the finance bros' kids buy into the bs and will rather try dropshipping for 5 months while making 4 dollars a week then get a marketing job
Bro no one hire me in marketing or even sales 🙂
I thought building a set of skills and then starting your business with it was the whole concept of hussle culture???
Sound like me. Will try to do dropshipping but the first I am learning website development. To build my own website for dropshipping.
Just what the world needs: more gen Z marketers.
@@iraklimgeladze5223 You and everyone else. It's the most basic and saturated 'hustle'. I know multiple unemployed losers who tried droppshipping, and got nowhere. Good luck though.
I was planning to rob a bank but that's not passive income so I invested in Wells Fargo since they're robbing customers already
😂😂😂😂 how much dividend does they give??
Mastermind
Good, also remember that their customer is poor people so if something wrong happened, the government will bail the company. Never ever invest in company that steal from the rich, you can get lots of trouble
hahaha
It's like investing in nVidia, AMD, Intel, TSMC and ASML, so they will buy a GPU for you.
The 1% of rich people think of how to invest their money to increase their wealth during the recession. While 99% of struggling hard-luck people think of how to survive without food and daily necessities in the recession and the coming hyperinflation
In my taxable account I went into dividend investing route. In my Roth I did the buy and hold route with an S&P 500 etf and total market etf along with some Berkshire B stock and SCHD. My portfolio is made up of dividend etf’s, dividend stocks, growth stocks, it allows a bit more freedom in specific areas
Through closely monitoring the performance of my portfolio by a FA, I have witnessed a remarkable growth of $485k in just the past two quarters. This experience has shed light on why experienced traders are able to generate substantial returns even in lesser-known markets. It is safe to say that this bold decision has been one of the most impactful choices I have made recently.
My advisor is “Vivian Carol Gioia”, a renowned figure in her line of work. I recommend researching her credentials further. She has many years of experience and is a valuable resource for anyone looking to navigate the fina-cial market.
Geezuz...
Only bots everywhere.
@@PatrickLloyd- nice advertising technique, im not gonna lie
If everybody lives off passive income then who is making all the food/power/anything else?
Amigo...
Some dude in china
"Financial guru" Grant Cardone has an underling that says 9-5 jobs should be illegal.
You need some suckers to work there will always be suckers that will work more for less as long as you give them some award or recognition ya know make them feel important and accomplished or better than their peers.
@@The_Average_UA-cam_Enjoyer People work 9-5s or shitty jobs out of necessity and for money to survive, not for „some award“ or „recognition“. How can your view on the average worker be so warped? You sound like you see yourself way above those „suckers“, but in reality they are the backbone of society and should be treated with respect. You would have to do all the shitty menial tasks yourself, if it weren‘t for other people willing to do them
Loved the dentist example. I once knew an orthodontist who wanted me to invest in his property flipping business. Straightening teeth has higher profit margins than selling cocaine or counterfeiting $100 bills but without the legal risk. Why anyone qualified to do this would do anything else was baffling to me.
BTW - The financial model for his property flipping scheme was full of holes and he would have lost his shirt doing it. You can make a ton of money flipping houses if you know what you are doing and are ready to put in 80 hour weeks. He fit neither criteria.
yeah no idea. If I had that kind of income I would just roll the extra money into stocks.
What kind of margin does a dentist operate with after operating costs?
@@UA-camuser1aa They are huge. Think about it. When you go to a general dentist for a filling you and your dental plan spend a couple hundred dollars. The marginal costs for the dentist are the filling material (a couple dollars) and the salary of the assistant who spent half an hour with you and the receptionist who spent 5 minutes with you. If you got multiple fillings on the same side of your mouth they probably squeezed it into the same 30 minute appointment. The cost of a general dentist's office is all overhead (rent etc) and capital (one opetory probably cost $100K up front). Once that's covered, profit margins are enormous. I've never run an ortho office but they need less equipment and charge a lot more for the dentist's time.
@@danielschein6845 yeah that doesn’t so high considering all of the staff, insurance, etc. I’d think a solo attorney can charge $400 per hour and get better margins. Regardless, it’s not higher than selling cocaine 😂
He could've saved up cash in savings accounts, then deployed it every few years when the market gets jittery, into REITs and preferred shares. Lock in 8-11% yields (normally 4-6%) and ride the rebounds upward to small capital gains. Takes a few months of practice and then you can allocate 1 hour per month to checking and seeing if your watchlists have anything interesting on them. Though, when the market sells off, it does become a part time job for a bit. If you aren't allocating 4 hours per day to the market during a crash, to deal hunt and find safe stocks selling off irrationally, then you're possibly not putting enough effort in.
Gig work is a fantastic way of swiftly discovering that you're expendable and now broke too.
This is one of the few finance channels that didn't sell out. Respect to you my brother
Yet
@@michaelamuquandoh6343 yes
I don’t know man. He really stretched the topic into 13 minutes but it’s basically 4-5 minutes of content max. Since he’s past 10 minute mark and the initial premise is 30 seconds in so those are both signs of selling out in UA-cam standards.
He “sold out” in the beginning he said so himself, its just that he’s betting that a sort of counter culture finance channel to the mainstream youtube clickbait finance space is a good niche , he still does all the “youtube/optimisation” things like the way he always mentions his channel name and all his videos are stretched past the 10mins mark
@@baboon_baboon_baboon I wouldn't call trying to actively make money on UA-cam "selling out". He needs to be paid for his labor. This is quality content. Unless you're gonna send him a few buck, lay off.
It's interesting how the poor are always seen as lazy and unmotivated and not wanting to work, when rich people come right out and say to the camera that they don't want to work, and everyone treats them like heroes for it.
Cruisin
Deep but ture
The rich creates jobs, the poor doesn't. Without the rich that everyone hates, the economy wouldn't have been that developed.
8:55 - Thought this was the beginning of an ad read. I've worked as a programmer for 7-8 years now (33) and I fully agree with your assessment. Programming paid a lot more than being a teacher, and I only took Computer Science 101 in Univeristy because I needed the extra credit (it was that or do Math 201 and 202. Tried my best, but failed). Those 3 months were the most cost-effective use of my time ever. I think it's primarily due to the fact that computers are a universally useful problem solving tool for any business, you just need to apply it correctly and clearly communicate the business case for it. Much love from Zimbabwe.
How many rhodesian dollars do you get paid?
@@anon2034 xd
@@anon2034 Lol, USD or no deal.
Thank you for sharing your experience!
Not gonna lie, the ‘from Zimbabwe’ was a bit shocking for some reason ahaha.
I’m just exiting my college and also finding that my computer skills come in far more use than any of my other classes.
@@ThaatEpicKitten am too from Zimbabwe.. lol
The people that sell the idea of "don't sell your time" are doing just that. They are selling. They are making their income, with YOUR time.
If I was making so much passive income. I wouldn't spend my time trying to "teach" people how to eat into my own profitability.
Instead you'd spend your time the way you want to spend it. Nothing wrong with that of course. Btw there is such a thing as "investing your time" or "using your time". But those are POV ideas.
This is a video I need to bookmark and rewatch again and again. I've always wanted to make passive income, but I've had way more success focusing on my career then trying to get passive income.
PAMM account
Same here, people don't realize that working a good paying job at a good employer can be so great
Passive income only works if you already have a boatload of money backing it up
Greatest investment is in your self. Health, education, relationships and happiness
@@Adrik808 You use that money to save, invest, go into Roth IRA accounts, and always take the 401K company match no matter what.
"dOn'T SeLL YoUr TimE fOr mOnEy!!"
Well that's a title I can't resist clicking on.
After the corporate massive layoffs, I have defaulted on debts, my savings are lying waste to inflation and my portfolio losing gains everyday. It’s all leading to financial exhaustions and depression. These days I have contributed more in learning how to make extra interest on the side, Using my job to finance my goals, You can't be an employee forever!
ensure you add value to your life first not always to your employer, everyone is replaceable. I am always making sure of this to ensure my own sanity and future security.
Protect yourself against your job, Run a side business or contribute to an open earning project streamline that is unrelated to your day job, that way you develop an independent skill against layoffs.
I am not living paycheck to paycheck kellen but am feeling the squeeze from higher food, utilities & gasoline. I looked at my budget constantly & finally realized that I was paying too much for cable, internet & cell phones. It is a pain to have to renegotiate yearly but really saves money. There are places in the budget to cut & pay yourself first, really works.
I’m not a full time employee, but I’m doing treating my business the right way now, using an asset security keeps you well informed and also strengthen your interest on the long run. It’s their profession, all you need do is share a few percentage and you are on green!
Having a life planned budget and having patience is something I had to practice overtime.
The stock market is a way to hedge against inflation. Most notably amidst recession, investors need to understand where and how to allocate funds to hedge against inflation and still make profits.
in my opinion, the impact of the rise or fall of the U.S. dollar on investments is multi-faceted but learning how to grow your money has never been easier than now that you can explore and experience a truly diverse marketplace passively by using a well-performing portfolio-advisor.
@@sheliaswelttk2535 I agree, having a portfolio-advisor for investing is genius! Not long ago amidst the pandemic crash in March 2020, I was really having inveesting nightmare prior touching base with a license portfolio-advisor. In a nutshell, i've accrued over $550k with the help of my advisor from an initial $120k investment thus far.
@@williamskohler8337 The stock market is down 20% this year. Keeping my money in bank could be no good but investing is riskier, I wish to find better value deals as asset prices keep decreasing but lack the skillset, mind if I look up your advisor? I admit this is the only way for amateurs like myself
@@gabriellewilson5625 Trying times are ahead, and good personal financial management will be very important to weather the storm. It would be very a innovative suggestion to look out for Financial Advisors like " Tracy Helene Aalvik, who can help shape up your portfolio.
@@williamskohler8337 I just looked up this person out of curiosity, and surprisingly she seems really proficient. I thought this was just some overrated BS, I appreciate this.
so basically:
-work more hours
-increase your skills
-if you start a business, do what you know and delegate everything else
-invest in dividend stocks
Did I miss anything guys🤔
you don't need to start a business
Most gig workers have no clue that they're making so little per hour. I've seen this in photography - invest thousands in equipment and education and marketing to go make $25 an hour...they don't think they have any expenses.
Or they make $10 for an uber trip and don't figure in the 3 hours they waited to get that trip, the cost of using their car, etc.
Wanna make money? Hire someone for $20/hour and sell HIS time for $40/hour!
If they could do things themselves, they wouldn't be a gig workers. You can't really blame the company.
I dropped out of college because I need to help with paying bills at home. I was working as a full time receptionist at a label printing company, got a promotion within a year to Prepress department, then to customer service, production scheduler and finally a sales rep at the company selling custom printed labels. I was in my final position for about 6 months, quit and then started my own business as a label broker. I worked at that printing company for 5 years, learned everything I could about label printing and then started my own business. I just put in the effort to try my best at whatever I did and was able to learn enough to start my own business. No matter where you are in life, I believe, if you just honestly try your best things will look up eventually.
P.S. I was a temp worker in the shipping department before I was receptionist. We all gotta start from somewhere
Mindset of the wealthy is not obsessing over savings. It’s about building income streams … Passive income exists ( stocks, dividends, bonds, real estates, etc.) but it takes expertise and consistency to lock in profits and amass wealth. Only then can you stop trading your time for money!
The financial markets appears to be deceptively easy, but it’s perhaps the most psychological business in the world, however If you know what you're doing. it’s a viable option to get a plethora of wealth!
I do agree with you! There is plenty of passive income, but you will always need active income to set up the passive income stream. It is important to spend some time setting up your stock/real estate first. Like the example of the dentist setting up some stock portfolio. If this is done well, it won’t require almost any time to keep it going, so the eventual payback will be huge over time, as the portfolio gets bigger, both from growth, and markets bonuses. This is the benefit of compound interest, and it’s definitely worth doing in the long run. Needless to say this is NOT what the online wealth bro's are selling, so you do have to ignore many financial channels to get the actual passive income.
There’s no doubting the lucrative nature of the markets! I turned $7k into $85k last month however after some risky investments and succumbing to greed my portfolio’s been a mess and I’m stuck in a loop of losses!
My 2 cents -get an advisor to keep you accountable and aid you make better decisions. An Investments advisor literally helps you create long-term strategies for building wealth and managing risk so you can have a strong portfolio. They also help you track, manage and propose the most reasonable investing strategy specifically tailored to your personal financial situation. This way I actively manage my passive income and passively manage my active income.
I'm an advocate for having a diverse investments with my portfolio having exposure to different areas of the market, including small and large-caps of the ETF index, stocks and grade bonds. My investment strategy with my IA. Jack Ronald Joyce’ gives me the best returns even during recessions and bear market. It's been 15months of steady growth.
Passive income might not exist but low maintenance income does. You may not be able to change time for money but you can make your time more valuable
This. "passive" income is just dividends on the initial time investment that increase its ROI.
Exactly , get something that can give you good money while not requiring too much of your time
It does. Bonds are passive and in case of government bonds, usually considered risk less investment.
@@michaeldunn1754 Then the stock crashes 60% and your few % of dividends are worthless anyways lol
@@l4kr passive income isn't a reference to stocks explicitly.
The paradox is that people who want passive income are motivated by the prospect of making money without working for it, but to get to that point you have to frontload a ton of work. I'd wager almost no one that intentionally seeks passive income actually achieves it.
That’s the same conclusion I came to when you look into how much dividends and stock appreciation return within the short term and the long term. No one said becoming rich was gonna be easy
I love that you always don’t forget to flame the “money gurus”❤ Thank you for your work and saving peoples money from these scams
The most toxic thing in our country is the ideology of "time...that I'll never get back..."
Live in the moment. Use your time being happy. Im not "wealthy" by modern measures. I'm not motivated by money. And I don't regret how I use my time.
“If you want what most people don’t have you have to do what most people don’t” it’s that simple
Not really. Anything can go wrong. You can work and, put in the effort and do everything right ad still fall short.
@@theintrovertedaspie9095 It's a requirement, but it's not enough. He didn't said that learning magic tricks will make you wealthy, but that you need to do smth that not everyone with a brain can do to be "valuable"
Every family has that one person who will break the family's financial struggle, I hope you become the one 😊
Assets that can make you rich
Bitcoin
Stocks
Real estate
I'm looking for something to venture into on a short term basis, I have about $6k sitting in my savings
Now is the best time to purchase and invest in Bitcoin stop procrastinating
I advice everyone to start investing and never rely on just salary. No billionaire made it through salary
I'm new to this Bitcoin trading, how do I get started with the help of a professional?
My favorite wallstreetbets comment was "you know you can buy more than one stock, right?" I think the same applies here. If you have time to sell, you might as well sell it, and if putting that money to work for you is a great way to make more money, then do that too. There's no rule that says you have to do either or. You might as well be saying "don't go to the dentist, take your car to the mechanic." Why not both?
smart hhaha
Doctors and Lawyers are not automatically very smart, they have just discovered how to navigate a complex system and often times they are given assistance in that endeavor.
all you have to do to the people who say Don't sell your time is ask that person "How did you get into a position where you're NOT selling your time?"
😂😂😂
I generally agree. One thing I would say is the the 'hunt' for passive income can yield results in terms of people actually saving. Many people don't do anything so if they're motivated by the lure of 'passive income' they might actually change the way they look at money and saving. Which might ultimately lead them to your channel and hence- knowledge.
Yes, the passive income videos I watched a few years ago were all: work hard, do overtime, earn every dollar from you job you can, spend less, save aggressively, and invest every dollar in passive index funds. In 20 years you should be able to retire early.
You get rewarded when you do something positive for others. Depending on what that is and how good you are at makes up how much rewards you'll receive. Rewards are metaphor for $ but it's not just money that's positive in life.
@@DrSamIAm it sounds like a pyramid scheme.
It's not about passive investments. It's about leverage. Leverage is probably the most important aspect of building wealth. Period. This video just talked about capital, which is just one form of leverage
The title. The editing. The speed. The jokes.
Your content were already EXCELLENT and now it's even better!
Starting your business is also trading time for money. In some cases trading lots of time for no money. Investing, especially if you are doing day trade, is also practically full time job. Only real way of not trading your time for money is if you build company in which you have ownership but somebody else runs it and you just collect part of profit every year. Or if you inherit nice chunk of money, invest it in stable fund and live from dividend. Third is you sell company for enough money to last you the rest of your life.
I do think its worth mentioning that you should not only spent time for money, but also for happyness - at the same time.
So if you love to be outside all day, being a gardener or post man might be the perfect choice for you that makes you happy most of the time.
Even though it will not make you wealthy.
Same the other way around: Earning thousands a day in a job that you hate from the bottom of your heart leads to suicide more often than to a meaningful life.
true but there used to be this trade and for many it actually worked.
work at this job that everyone hated for let say 2 years and then you made so much money your could take this job you liked more, if you was frugent and put every paycheck into a saving account (whit decent/okey rate) you could even retire after 3 years there and some did.... did take discipline.
now if you took the money from the 2 years and blew it on hockers and rolete that was a net loss for you.
problem is today your given two option take this job you hate and make enouth for rent but no growth or take this job you like and after 5 month be bankrupt.
another I hear is the Just invest 1 usd a month the compost intrest will mean your still on top.
ods are it will not if you put 1 usd a month into the correct investment account every month from when you was 10 years old (12 usd a year).
when your 30 (12x20 = 240 you put in) would have grown to maybe 300 if your lucky.
sure we are sold a return rate of like 9% problem is that number requires a investment of 100 of dolars ever month every single month every year for several years.
after that just inflation will turn that 9% into -5%.
This is so right, happiness is worth more than money
Rich people has money to buy time. So sell your time if you’re starting out
So basically investing works better when you have more then 1 million.
Yes, at least in the financial markets
Depends on the type of investment.
Investing works better if you start early.
If you reached 40 before deciding to build wealth by investing in VUAG ETFs, yeah it's probably too late.
well since I started working from home about 20% of my salary became passive income
checkmate
Lmao
That's my goal as well and I just wanna have it headache free in the future of getting a new job all the time, since it can be a really fun and yet still a valuable effort for society
Learning everything the hard way, I've learned a couple details omitted by gurus: be at the right place at the right time; know the right people; be a salesman, even in your personal relationships. These are things i can't fully or directly control. Also, if you notice successful people (the how Joe Rogan circle is a good example) there are aLOT of famous people who knew each other or had a common thread in some way. The average person won't be able to do that, but they can create their own circles and always try to pay it forward as much as possible. It won't make you a millionaire, but then again, I'm not interested in millionaire problems.
> A programming bootcamp could get you an entry-level job as a software engineer
HAHAHAHAHA
Far from the truth
Far from the truth
On of my bosses at a job a few years ago was also moonlighting as an Uber driver. He was also a numbers nerd. We were sitting in a meeting room waiting for a meeting to start and he was working on his Uber spreadsheet. He broke down fuel costs, standard depreciation on his vehicle, etc. All told including tips he figured out he was making around $4.75 an hour, which is what I made at minimum wage in the mid 90s delivering pizzas (not counting tips). And this was a guy with a 6 figure developer income.
Though is suspect that his motivations for doing it were more about being out of his house and away from his wife than the actual money.
It was still enlightening to see what rideshare drivers made in a large city.
I also know someone that’s a single mom that is currently doing Uber 10 hours a day in a car she leased from Uber. And is only making enough each month to pay the lease….
Stories like that make me wonder why so many people marry people that they seemingly can't stand.
@@Default78334 Most times you can stand them in the beginning.... Later on, not so much...
So... How can she continue doing that job, if she earns basically nothing? She has already rich and is doing Uber just for the fun of driving?
@@typingcat No, she's poor, she's just bad at math I guess
@@franciscodanconia4324 Or he is overleveraged and looking for easy money to satisfy debts.
UA-cam finance gurus:
Step 1: Just get rich bro.
Step 2: Enjoy passive income from the markets.
Once I saw an Instagram post that was "How to get free Starbucks"
The answer of course was to make passive income by buying Starbucks stocks. The math worked out to it taking $20,000 worth of Starbucks stocks to get $30/month in dividends.
step 1: become a drug dealer
@@NJdaniels96 it doesn't even make sense, since you don't own 100% of the company (and even if you did you still pay taxes, so you kinda loose money)... And people are still falling for that scam.
I’ll take a reasonable chance of moderate success over a .00001% chance of being a billionaire any day.
I used to freelance a lot on the side from my day job. However I’ve found my time to be more valuable spending it doing things I want to do as I get older. I still do odd things here and there for extra bucks that I know are not the highest value use of my time, but are much less stressful than trying to do development jobs at 11pm before going to work the next day and do the same thing for your day job.
The pettiness in the title is golden 😂
It's really a breath of fresh air to see someone talk about money without trying to sell you a philosophy.
Great video. you've reminded me of what someone once said ❤ Being rich is having money; being wealthy is having time
You're so correct! Save, invest and spend for necessities and a few luxuries relatives to on's total assets ratio
This must be an investment with Mrs Maureen K carr
I invested in both stock and Cry ptő but I'm doing much better on Cry ptő with the favourable market price.
Such a wonderful personality, you’re totally a genius with your work and you have the best options.thank you for your help Ms Maureen.
Time to auction my time on eBay to the highest bidder. Gonna block it out into 10 minute sections for the next 20 years. 🤗
The real problem today is that people value paper money instead of their time. Here is where passive income and investing strategies like dividend growth investing come in... it refocuses your lens to put value back onto time which is what matters.. Do you want to work your entire life? Or do you want to enjoy the time you have here while alive?
In my country where I live in. This thing doesn't exist and such thing like this is impossible
focus on stuff that you love, not the struggle
No way this video says investing is a scam in the intro and then promotes a LITERAL SCAM less than two minutes later
Most rich people stay rich by spending like the poor and investing without no stopping then most poor people stay poor by spending like the rich yet not investing like the rich but impressing them
The thought of retirement has given me the opportunity to sort out another source of earning
I started paying more attention to stock and learning more about online trades
Trading became interesting when I met Shanita online and she gradually exposed me to the whole trade market and how to earn massively from it
Meeting with someone genuinely good at the financial market was a break through for me
I was introduced to forex with the guidance of Mrs Creswell and there isn’t a single trade I have loosed
Absolutely right. What am I going to invest without money? Starting a business is risky esp when you're young and without experience and a lot of hard work! Start improving your skills and then get personal financial advice. Helped me a lot, I've got a plan. I'll start investing when I've saved enough. Balance enjoyment now vs long term benefits. All starts with what you find important.
TL;DR
You need to GIVE something to GET something. You either give your time or a significant capital that will provide a significant service to get money. To get money with the 2nd option you need to ALREADY have the money and you will usually give a lot of time. Theres no such thing as free money.
There is no such thing as "free" money, but you can make your money work for you.
Investing £100p/m into an index fund is achievable for most people. It won't make you a millionaire, but you will have a healthy retirement bonus.
Investing takes time, selling takes time. Making money always takes time.
Investing doesn't take much time if you setup monthly recurring purchases. Though tracking your wealth will always take time.
I am not enjoying the sound effects, mem clips and background music. I find it distracting and would rather hear you breaking things down.
This needs to be said more often. If the topic is of interest, then a more thorough and clear breakdown is desired. Attention grabbing editing is for useless content.
@@uhhnoah7991 I like you so far.
So cry at the bath
@@luanbatera Only the best responses from the idiots online.
@@billrich9722 the vídeo has a perfect content and you a crying, boy
“Don’t work just make others work for you”
like how boomer dad's will drive an hour out of their way to buy gas at a gas station that is .04 cents per gallon cheaper
I earn passive income by having 37 children who work 9-5 jobs for me
This man needs a raise for putting out good videos like this 🔥🔥🔥
For all the people who say, start your own business doing x, i point out that if i get a second job or work for an agency, i get paid more, paid consistently and without any risk than finding some nonsense crap to sell.
I also point out that aggressively staying on top of your finances is like giving yourself free money. My car insurance was going to go up to £850 from £600 at renewal - nothing had changed. I don't pay no loyalty bonus, so thirty mins on a comparison site, a phone call to check some details and my new insurance was £500 for the year, same cover.
Whether i saved myself £100 or £350, it's still a good return on that thirty mins. My parents reckon I've saved them about £4k since I started sorting out their ongoing finances like that.
So a business consists of some "nonsense crap to sell". What an ignorant statement. Keep wasting your time pinching a few pennies off your insurance, peasant.
Don't sell your time for money.... Sell established titles lol
Trying to build passive income is great as long as it doesn't screw up your day job.
I don't understand the whole dentist/doctor example; if a dentist invests his extra money into an apartment building, yeah it'll take time but he will eventually get returns on that investment in the long term that require no time(passive income). Whereas "taking on a few extra cases" is not really possible. i mean hello? they are medical professionals, they can't just do one extra surgery after a 24 hour shift, with no breaks? dentists and doctors get paid a lot but they can't just overwork themselves, that's why they invest into a different kind of area....I really did not understand or agree with that argument at all.
Agree with u. Doctors, Engineers with excessive capitals looking for investment firms to manage and growth their wealth happens everyday and extremely quite common.
In your case, it literally much better for the doctor to find a reputable Reit firm and have them buy/manage the apartment complex for him to generate wealth. No way in hell "taking on few extra cases" gonna generate the same amount of money as a 10+ units apartment complex with full occupancy.
Moreover, "taking extra cases" mean even less time the doctor can spends with his family and personal time. How the hell is that OK ? Whereas having a managed apartment complex can create actual passive income and open up free time for him to be with family and hobbies.
This dude just make some weird, nitpicking point to justify his already weird "9-5 is better" statement.
@@hoangle2483 yeah, he didnt convince me that passive income doesn't exist. And the doctor example is really ridiculous. They already work notoriously long shifts and can't just do another surgery or attend more patients when they're working 24 hour shifts. And same with any high wage worker, your productivity simply stops increasing after certain hours. Quality of life amd quality family and free time are super important too!! But I do agree that an investment still requires time, even a good landlord should be attending his properties which means sometimes at 3 am your tenant has a leak and you gotta call the company to fix it and even take time off your regular job to fix stuff. But overall the video uses a shit example lol
After years of trying and following these people to the tee, I’ve come to confirm that wealth is a boring slow and active. Contrary to what ANY guru out here told me and still try to push. And yea passive income is never really passive. Rather your hours become sought after, this valuable
Wait! are you already a lord and have been keeping quiet about it?
He's a sultry wood nymph
@@ktanner438 They seem to be everywhere nowadays!
Sultry wood nymph was taken by Caroline so I had to go with Scotch Lord instead
What is this, a crossover episode?
@@PBoyle It's like being a lord but instead of buying titles you have to scam randos with crypto
Lets not watch how money works because we're not making any money,
It really is just a matter of context. If ultimately you're spending a certain number of hours per week on a side hustle, however much money you made divided by the total number of hours worked is how much you earned per hour. The difference is that you're able to continuously make more over time by learning how to do better with your efforts. It's just not a predetermined price per hour that you're selling
I learned it the hard way, don't sell your time for money. The moment I had a burnout , had enough and quit. My surprise when 3 months later I was "jobless" and technically made in 3 months of consulting and freelancing what I was making in an entire year.
I was like: wtf, I could just work for 1 month and make the same and do nothing for the rest of the year ?
being a salary-man, aka, a worker is stupid.
Wait, that's literally selling time for money, with the difference I can stop when the job is done and don't need to stay there pretending to be busy while doing nothing waiting to clock-out. I can start the next one and actually use the time to make money.
Ah a fellow truthsayer. Well made, I’m glad there is a video such as this who goes against the grain of the usual unrealistic passive income ideas for us mortals here
Passive income does exists just extremely hard to come by , you still have to work a normal job and build from their.
You need money to make money. Could not agree more.
I’m really glad that the message of the video wasn’t “Passive income is a stupid idea and doesn’t work”, but “‘Don’t sell your time for money’ is stupid advice and nothing but a fantasy”. I love the idea of passive income, but even that involves selling your time (and money) for money. I don’t think it’s emphasized hard enough that passive income does NOT mean passive activity (even with dividend investing, you had to work for that money in your day job unless you are a wealthy trust fund baby), and passive income streams don’t grow fully formed on trees.
I understand and fully support the advice of trying to transition your primary income away from your day job. The reliability of a job is, I think, quite overstated. But passive income IS the Holy Grail of finance….which means you’re unlucky to achieve it without significant investments of time, effort, expertise, and money, as well as flat out good luck (born poor? Guess what? Probably not gonna succeed in building reliable passive income). If it was so easy and just required “a little bit of hard work”, as all the online financial gurus say, everyone would just do it.
The economy we live in is all about selling and buying. Starting out, all you have is time. So, that’s all you can sell. Later on, you can sell other things such as inventions, expertise, etc…
So, that’s just how I look at it. Whether it is you are selling, as long as there is a buyer, go knock yourself out.
Made a startup and worked on it for free for 3 years. Once I got an offer to sell it for 100M I realized if I do, it means I would've been selling my time for money so I declined and disbanded the company.
I think of it this way: 2.5M dividend portfolio means 100k/year. So better off working a little more and investing it
knew a group of girls who would go to the bar and try to get people getting bottle service to bring them in so they could get free alcohol.
Out of the bar, you couldnt pay them to talk to you. In the bar, it costs about a 50$ bottle. Thats a high value trick. Perception is everything.
You are right, Passive income only exists because someone does it for you. What most people chasing is not really passive income or money, but freedom, and the most legitimate way to be free is to become financially free.
No. Passive income is like a song that keeps getting royalties after 30 years, a book that keeps selling, a syndicated TV show.
Become a hermit. Financial freedom by becoming rich is not freedom
@@RogueReplicant which were sold by people.
Do one for the bills and one for the get ahead. The trick is to enjoy both because either way, what your spending is your life,
This video contains better advice than all the financial gurus combined. Thanks, man!
I Love your sarcasm against UA-cam Gurus and then getting ads from those Gurus on your Vids😂😂
Passive income put ads on your video lol 😂
If everybody quit to do their own thing the economy would collapse.
I think you mean ‘the economy’
It’s good to see that there are so many adamant worker bees out here! Y’all are doing the right thing! Keep doing honest REAL work!
The point should not be to "get ahead"; rather the point should be "to have enough".
I think it is better stated that you shouldn't JUST trade your time for money. If you work a six figure job, and invest half of that, you'll be able to easily retire in 20 years.
Problem is there is no such thing as a risk free investment.
It's possible to lose all of your money.
For me any chance of losing money above 0% is too much.
@@petelee2477 Allow me to provide you with a new perspective...
If you don't learn how to grow your money you WILL lose your money to inflation.
The US dollar has lost over 90% of its value since creation due to the impact of inflation. People are living longer than they used to.
If you plan to ever retire, your life literally depends on you learning how to grow your money. Now granted, I am of the belief that the stock market is a rigged game, so perhaps you start a business instead or go into real estate.
But Pete, you gotta do something. Inflation will eat away your money, so inaction means that you'll lose the game.
Best wishes.
Putting aside that you're right the money bros are doing it to make money or be predatory, the fact is that 'selling' your time in the US isn't about getting money. Hasn't been for the last three decades; Majority of people do it either to keep medical or stay out of jail now. The people who set themselves up with passive financial income are in a completely different world to those that didn't; I got into real estate [ownership] after highschool, as well as local CoC investing, and leveraged my electrical engineering later on to take advantage of the energy credit system where I live. I could stop working tomorrow, and have more cash than my taxes and living expenses, minus medical and vehicle insurance. I have 0 fear of being homeless, without food, water, or anything else. Everyone where I work on the other hand is the exact opposite; constantly worried, constantly having to pick up extra shifts, some working 16 hours a day. Why? Money's not enough, but they can;t get a better job without losing their insurance. There's no opportunity for them to 'move up' and get a better situation. And none of them have passive income.
What struck me is, after getting to know the population at my work, is that the majority are people in situations where they should be financially flush, if not stable. Business owners, stock brokers-- not day traders, the actual brokers-- wholesalers on the supply end, doctors of all stripes, and trade smiths in high demand. One of them was a funeral home director, ya know, the one business that will never run of demand and all the other jokes. None of them had passive, and all of them are working the same warehouse job either to just get medical or because they need more cash.
Honestly, the premise and title of the video should be changed to 'don't listen to predatory money bros' unless the intent was intentionally mislead people. The more you sell your time and focus on active income, the less you'll have of both.
The next decade is about to be a revelation & transformation , anyone who thinks this video should be taken seriously and not with a grain of salt, I can only pity them
Finally! I've always been wanting to say this to people and I'm glad you made this video.
You should do a video on the perverse incentives of social media companies to allow bots
I counted at least 15 spam/scam comments out of 84 on this video alone, and Google rather intentionally allows them to continue thriving, because it would hurt their numbers to get rid of them (much like other social platforms)
What I like of your videos is that you always made clear that make money is a job itself.
The coupons i clip takes 45 minutes and I'm a couponer and to sort my coupons by store takes another 45 minutes. It takes me an hour to shop and I save $219 in groceries almost every trip, and last year I saved $5694 in groceries. If its economically viable for you then do it.
The issue I see with being paid by the hour is how it essentially teaches you that slow lazy work is more beneficial for you then hard work.
This could be avoided if you instead get paid by each job finished (like contract work) that way if you work hard, you’ll get finished much faster and revive your pay much faster aswell to move onto the next contract, a lot of trades work like this.
I love this video so much. So many people think "im not selling time for money. They are all mistaken.
In fact, in a way, everything is always a job, whether you make a business or not. You will always be selling your time for money, and you wont always be successful at it. You just try your best at it, and hope you make a good amount of money. You arent going to be the next Tesla most likely. You might get rich, but there is always luck and hard work to it!
"Passive" income is just another term for economic leech. You could make passive income by enslaving someone, I guess. Or maybe wage theft. Or a pump & dump grift.
Sure I would like to make millions for nothing, but so does everyone, and that's not a foundation for a functioning economy. These people are a blight on us all.
Well, passive income is a misnomer. It mostly describes income from the things you own not the work you do. But that income/capital had to come from somewhere. So at some point in your life you had to earn, borrow, or be given that capital, so it's not like it's free.
I can think of another way: Passive income from something one creates that is automatic, like a website.
I took the hybrid approach of work, business, and investing.
***
When I was younger (late 20s), I started with a standard 40/hour week job as a Software Engineer. But I quickly learned I didn't have what it takes to be a top-tier developer or manager which is where the "real" money starts to be made in those careers, so in 2005 I started real estate investing, specifically as a landlord of low-income properties. Gradually, I built up our portfolio to 31 residential units and then in 2020 I started getting into commercial properties, mainly automotive shops/workshops, a small self-storage facility, and a couple of retail spaces that we found cheaply. They're all low-end for what they are as well, but much less time intensive to manage.
***
Over those years, I've gradually developed systems that make things easier and faster. I now hire out all my maintenance, mowing and cleaning tasks. So if you're talking actual time on the remaining tasks of management and book-keeping, I average around 20 hours per month, with a take home profit (cash in my monthly budget after all expenses, mortgage payments, and set-asides for capital expense improvements) of between $6,000 - $7,000 per month. That equates to $300 - $350 per hour. This is in addition to my decent income as a Software Engineer. My wife has been a stay-at-home mom for almost 12 years, and before that she worked a low-wage job as a receptionist. We have no need for her to work now. Our annual income is around $200,000, and our net worth was conservatively estimated last year at around $2.2 million, give or take a bit since stocks have been pretty lousy this year overall and our IRAs and 401K haven't gone hardly anywhere and real estate values have stabilized.
***
I just turned 47 in October. We now are selling off a few of our residential rentals and moving into nicer, larger commercial units. The next phase after this will be to sell off most of the remaining low-end units and trade them (via 1031 exchange to avoid taxes legally) to middle-income residential. My goal is 10-15 paid off middle-income single family houses and 30 or so commercial units. Retire from the day job at age 55 (about 8 years from now), toss the keys to a property manager, and find something else interesting to do. Probably will keep dabbling in real estate since it's fun and has been very profitable.
***
Never paid a dime for any "courses" or get-rich-quick schemes. I'll tell you what DOESN'T work: trying to follow the crowd who sing the praises of hacks like Kyosaki and his ilk. He got rich selling people DREAMS in BOOKS and seminars, not by being particularly clever in investing or real estate business ventures. Problem is there are only so many people to sell dreams too, so you can't copy his model very well and have to find something that actually works: a good day job that leaves you with time to manage a small real estate empire works well! Just have to devote about 20 years to it and you'll be pretty well set.
Even a salary/wage job is “passive income” for the time not spent actively doing a task. Similarly, if you own houses, you can divide your income across a given interval of time in which you accrued income (say, a month’s rent) and you could say “in that time, “I spent 15 hours on admin and maintenance”. The thing that makes things like investing and real estate seem “passive” is they tend to have high upfront time investment but it tapers off to more “maintenance” levels, whereas a “job” is pretty consistent effort, and, the ratio of “money per time spent” tends to be higher or should be (if it’s working correctly), for “passive income”.
Also - don’t listen to finfluencers. They’re not new, they’re just the latest in a long line of time share salesmen, snake oil peddlers, hucksters, and people selling bridges in New York boroughs.
People prefer to spend money on liabilities,Rather than investing in assets and be very profitable.
You're so correct! Save, invest and spend for necessities and a few luxuries relatives to on's total assets ratio.
This must be an investment with Mrs Lauren James
@@brightdekpen2341 I'm just shocked you mentioned Expert Lauren James thought am the only one trading with her
@@lisamatthew5622 Haha you don't have to be surprised Mrs Lauren is really good and everyone loves genuine services,she helped me recover what I lost trying to trade on my own.
For the most of human history, selling time for money wasn't the norm. Selling results for money was. With the exception of serfdom (which also wasn't exactly selling time for money) people usually either sold complete products they made or if they were employed as laborers they would be paid for completing a job, not for spending X hours on it. I don't know about poor and rich people's mindsets, but I find the current system called "employment" degrading.
Yeah, when I saved loads of money during the lockdowns because I couldn't go anywhere because nowhere was open, I spent my money on a bookkeeping course so I could get the qualifications necessary to get a job in bookeeping and earn an above minimum wage salary...
did you find a job in bookeeping?
I tend to err on the side of the bros here. I fell into dog grooming as my first career. I started when I was 17 and it was based on commission. The more work you did, the more you got paid. A truly honest paycheck and I loved that. I now do accounting. I started hourly and let me tell you it was a scary adjustment to not be able to pick up more work on the fly to make more money when I needed it. Now I'm salary and my time is in a constant state of negotiation. Selling your time might be the norm, but one party or the other tends to get ripped off. If you can sell your work instead of your time, I think that's the preferable option.