I'm approaching retirement and having a financial advisor has been helpful. I started investing later than most, so relying on compound interest from Etf's or bonds alone wasn’t enough for me. Despite that, I’ve managed to do well and am on track to retire with around $2 million
@@MichaelGabreil I usually avoid making specific recommendations because everyone's situation is unique. However, my experience with Julie Ann Lerch has been quite positive. You might find it worthwhile to see if her approach fits your needs
@@ClemonSteve I looked for the name online and found her page.I will get in touch with her,Thanks for the help I emailed and made inquiries. Thanks for the help
I feel investors should be focusing on under-the-radar stocks, and considering the current rollercoaster nature of the stock market, Because 35% of my $270k portfolio comprises of plummeting stocks which were once revered and i don't know where to go here out of devastation.
Safest approach i feel to tackle it is to diversify investments. By spreading investments across different asset classes, like bonds, real estate, and international stocks, they can reduce the impact of a market meltdown. its important to seek the guidance of an expert
True, A lot of folks downplay the role of advlsors until being burnt by their own emotions. I remember couple summers back, after my lengthy divorce, I needed a good boost to help my business stay afloat, hence I researched for licensed advisors and came across someone of utmost qualifications. She's helped grow my reserve notwithstanding inflation, from $275k to $850k.
How can I participate in this? I sincerely aspire to establish a secure financlal future and am eager to participate. Who is the driving force behind your success?
I have $170K in NVIDIA right now. I only got into stocks to try and make anything to help afford some medical infusion treatment that I need. I know it’s a risky game especially for someone like me who isn’t focusing hard on the market. I just don't want to make any wrong move. Do I hold or sell and buy back? Genuinely asking for any advice.
Well all i know is that you cannot go wrong taking profit at near high. No one ever went broke taking a 10% loss. It's best if you consult with a fiduciary advisor to get informed buying & selling decisions..
You have a very valid point, I started investing on my own and for a long time, the market was really ripping me off. I decided to hire a CFA, even though I was skeptical at first, and I beat the market by more than 14.3%. I thought it was a fluke until it happened two years in a row, and so I’ve been sticking to investing via an advisor.
Sophia Nadene Morgan is the licensed advisor I use. Just research the name online. You'd find necessary details to work with and set up an appointment.
Kept $105k in CIT Bank HYSA at 5.05% but i now plan to invest in the stock market. What are your thoughts on that? What stocks should I look out for as a newbie to safely grow my money?
It’s best if you buy growth/blue-chip/large caps stocks only. Also, as a newbie it’s advisable you work with a financial coach to help set up a well-structured portfolio.
Apt!! I was self-managing my portfolio but suffered heavy losses in 2022 and i knew i couldn't continue like that, so i consulted a fiduciary advisor. By restructuring and diversifying my $1.2M portfolio with dividend-paying stocks, ETFs, Mutual funds and REITs, I significantly boosted my portfolio, achieving an annualized gain of 28%.
@@LionTowercoporation I appreciate the implementation of ideas and strategies that result to unmeasurable progress, thus the search for a reputable advisor, mind sharing info of this person guiding you please?
Finding financial advisors like Colleen Janie Towe who can assist you shape your portfolio would be a very creative option. There will be difficult times ahead, and prudent personal money management will be essential to navigating them.
As an investing enthusiast, I've kept asides a good sum of capital to invest for financial independence and early retirement, but my concern right now is the market rally being a propaganda. Is this really a good time to buy stocks, or do I wait for crash?
the stock market can appear as a bewildering cauldron of fake news for new investors. I would advise using a CFP, give him/her 2/3 and then invest the 1/3 on your own, but only if you have time to track stocks and educate yourself
First two years I lost money, until I got my sea legs actually by the help of a certified financial planner, my portfolio is well-matched for every season of the market, and recently hit 7-figure after 5 years of subsequent investments. I'm retired and never leaving the mkt.
in times like these, it's crucial to be cautious and not rush into the market , Who is this your FA , my portfolio needs urgent attention , been a lot of loss.
Christine Ann Podgorny is the licensed coach I use. Just research the name. You'd find necessary details to work with a correspondence to set up an appointment.
I appreciate it. After searching her name online and reviewing her credentials, I'm quite impressed. I've contacted her as I could use all the help I can get. A call has been scheduled.
Great video! I really do have a question. For someone with less than $300,000 to invest, how would you recommend we enter the market? I am looking at studying some traders and copying their strategy rather than investing myself and losing money emotionally. What’s your take on this approach?
Safest approach i feel to tackle it is to diversify investments. By spreading investments across different asset classes, like bonds, real estate, and international stocks, they can reduce the impact of a market meltdown. its important to seek the guidance of an expert
True, A lot of folks downplay the role of advlsors until being burnt by their own emotions. I remember couple summers back, after my lengthy divorce, I needed a good boost to help my business stay afloat, hence I researched for licensed advisors and came across someone of utmost qualifications. She's helped grow my reserve notwithstanding inflation, from $275k to $850k.
NYCOLE CHRISTINA VANNATA is the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.
I am regretting not investing in stocks last year but still grateful i kept my money. I'm hoping to retire this year Sep at 55 on my birthday. Considering the current rollercoaster nature of the stock market was the mean reason i decided to stay on the sideline for awhile, now I’m worried with the numerous bank failures as of late, am I better off reinvesting my savings in the stock market or do I wait?
Its best if you buy growth/blue-chip/large caps stocks only but Its unclear which stocks and sectors will lead the market in the next uptrend. It's advisable you work with an fiduciary advisor to help set up a well-structured portfolio
my plan next year is going on 80% equities 20% cash. One of the things I have learned in my years of investing is not to completely move in or move out of investments, if you have quality assets. It is better to trim, and then hold some cash for buying opportunities. Before the latest drop in the market was down to $105k but currently at $650k, marking a 25% increase from last year
I'm looking to give stocks another shot after staying on the sidelines since the pandemic. Being heavily liquid, I'd rather not reinvent the wheel. Since this strategy works for you can you advice me on stocks to pick?
How can someone find a trustworthy financial planner? I'm interested in connecting with the professional who assisted you. I'll be retiring in two years and could use guidance on managing my larger portfolio. I want to ensure I make the right choice and avoid any risks.
Selecting an advisor is a deeply personal decision. I follow the guidance of "Amanda Kathryn Sachs" to achieve my growth objectives and steer clear of errors. Amanda is a highly qualified individual, and finding her website online is straightforward.
It was suggested that, with inflation at a four-decade high, now is the best time ever for a financial breakthrough. In my portfolio, I have roughly $250k that needs to grow because it's stagnating. What is the best way to profit from this downturn?
Lots of individuals undervalue the function of advisors until they are burned by their own emotions. I remember a couple of summers ago, following my lengthy divorce, I needed a good boost to assist my business stay alive, so I looked for licenced advisors and found someone with the highest qualifications. Despite inflation, she has helped me increase my reserve from $275k to $850k.
Maria Leticia Monroe is the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment..
I just googled her and I'm really impressed with her credentials; I reached out to her since I need all the assistance I can get. I just scheduled a caII.
Considering diversification is excellent. Now might be a good time to consult a financial advis0r for expert advice and seize opportunities in this volatile market.
You're right mate! I’ve been using a fin-market expert for two years now and I own a 7figure diversified portfolio from investing in stocks. Currently, my portfolio is worth over $900k.
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?.
Nicole Desiree Simon is the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.
Amazing content! I have been following your videos for sometime now, consistently kicking down Wall Street doors for two years now, I have over $320k in stocks. Currently, my portfolio is down by 15%. Wondering if they're any short term opportunities I can invest in.
I agree that there are strategies that could be put in place for solid gains regardless of economy or market condition, but such executions are usually carried out by investment experts or advisors with experience
Reason I decided to work closely with an brokerage-adviser ever since the market got really tensed and the pressure became so much(I should be retiring in 17months) so I've had an brokerage-adviser guide me through the chaos, its been 9months and counting and I've made approx. 650K net from all of my holdings.
Elisse Laparche Ewing is the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.
If he's not close to retirement why not invest that 200k in an account and then double your payments towards house..the math says let that 200k compound now instead of pay house off with it which will eventually be paid off when he retires anyway
Well, in my opinion, If you invested it right now (during the market’s downturn) you’d be buying at a low price which is highly recommended by my fa and based on past performances in the market in 2030 with the right coach you should have four and a half million in your portfolio sitting pretty.
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?
I was able to find her webpage and leave a mail after going through her credentials, i'm willing to make consultations to improve my portfolio. Love this channel for it's transparency.
Putting that much money in a stock market is very scary for me. Today I’d rather have these $200k in a 4.5% savings account than in the stock market. There’s so much instability right now with Ukraine, Taiwan, Middle East, Covid still mutating, etc… It’s just too risky.
Rule of Thumb: If you have to call up a radio talk show host to ask if you should be investing in real estate, you probably shouldn't be investing in real estate.
No way I'm paying back my 3% loan early! Heck, you can make 5% right now with money just siting in a savings account. If I put all the money toward paying my house 12 years back I would have not been able to buy half dozen+ rental properties that have quadrupled in value, and cash flow like crazy. The cash flow pays my mortgage payment++ now. The primary mortgage rate is less than inflation. Thank you banks! Dave caters to the masses that can't work with money properly....which is good advice for most.
Different strokes for different folks. I've lived similar to how you are living financially, but now at pushing 50, I prefer simplicity and time/energy margin which means a paid for home and as little BS as possible. This allows us to chase our passions and honor our values on another level.
It's for real. Bought several in east Durham for $25k, 23k, 35k etc and spent about $40K-50k on each around 2011 to 2013. All foreclosures. Now they are valued between $275 to $450k. Refinanced them and got all my initial investment back out ($0 down)... BRRR method. So yes, Quadrupled is accurate and rents have doubled. What was $800/mo is now $1600/mo and considered low for most areas around here. Those were all 15 year loans and will be paid off soon. The math is clear! Cheers!@@Diageoung
The low of my brief foray into being a landlord was trying to mediate between my upstairs and downstairs tenants a full squabble about whose dog shed more. This was three weeks after the previous squabble of whose dog shit more. (Upstairs hired a dog poop picker upper once a week, and downstairs paid half for their dog. One day downstairs complains that upstairs dog is responsible for 70% of the poop while they paid half the bill……) and the kicker…… upstairs rent was $1500/month, downstairs $1100 and the MONTHLY charge for the dog poop picker was $70. They were squabbling over $35. Anyone reading this who wants to build wealth through income properties, believe me when I tell you…………. Pay the f….ing 10% and hire a property manager.
@@carpediem6431 I feel your pain.... LOL I am on a Landlords Facebook group - some of the horror stories they tell will make you want to sell everything and become a hermit...
Pay off 3% mortgage , no thanks. Thats cheap borrowing for 30 years , inflation hedged. Invest excess in S&P500 ETF every week , average returns 15% yearly over 5 , 10 , 20 year period. You can be double millionaire😊
For anyone wondering, the S&P500 returns over a 5, 10, 20 year period are approx 12%, 14%, and 10% respectively. Absolutely fantastic returns, just wanted to put that out there before anyone expected 15
The age of the low interest rate is over. You’re not going to see those low 2% to 3% mortgage rates from the Covid shutdown now or anytime soon. The housing market got too hot and needs a few years of higher interest rates to cool off. Don’t even bother thinking about low interest rates until 2030.
@@JohnSmith-gz5pm The thing is the dude already has a mortgage. He might have bought his house when interest rates were low. If that's the case, it's stupid to pay off the mortgage. Better off putting it in Bitcoin 🤑
Paid off my house at 53. My wife and I have been able to stack cash, take care of large home projects, be crazy generous when our kids got married, and now sleep even better knowing we will retire on time. Stay out of debt and pay it all off asap. Too many living with mortgages they can afford.
I was advised to diversify my portfolio among several assets such as stocks and bonds since this can protect my portfolio for retirement of about $750k. I want to know: Do I keep contributing to my portfolio in these unstable markets, or do I look into alternative sectors?
I stopped listening and taking financial advise from these UA-camrs, because at the end of the day, I end up with a bunch of confusing stocks without knowing when to take profit, In reality, all I needed was professional advice.
She goes by 'Wendy Birkett' . I choose to delegate my excesses to her because of her great expertise. I suggest you look her up. To be honest, almost didn't buy the idea of letting someone handle growing my finances, but so glad I did!!!
Really there is no better feeling than coming across a similar name who has helped change ones family life financially, Yes i know her and honestly i can testify her strategy is amazing and truly worth giving the shot.
No debt at all and have invested $200,000 as our Ramsey certified people suggested. Now we are getting $500 a month from this investment (and have been for several years) and we don't touch the principal at all. We are in our late 70's so we don't need to leave the interest in the account. We now have more than the first investment even though we take the interest money every month.
*The wisest thought that is in everyone's minds today is to invest in different income flows that do not depend on the government, especially with the current economic crisis around the world. This is still a good time to invest in gold, silver and digital currencies (BTC, ETH.... Stock)*
It's truly heart- warming reading a lot of testimonials on Eleanor Nelson. Her personality, ethics, principles and prowess as a Financial Adviser has gained her fame and recognition around the globe.
I'm favoured, $60K every week! I can now give back to the locals in my community and also support God's work and the church. God bless America,, all thanks to ms Eleanor😊🎉
There may be pullbacks in the markets this year, which are normal. But the overall market will go up throughout the year. I think we'll see more market diversification. Already looking to invest about $430k of my savings in stocks this year. 2024 is the year I make millions
Think risk is at an all-time high right now, perhaps you should be a little more patient and return when it has decreased. Alternatively, you can consult a trained financial expert for strategy.
I agree. This is why having the right plan is invaluable, my $510k portfolio is well-matched for every season of the market and recently hit 100% rise fromm early last year. I and my CFP are working on a more figures ballpark goal this 2024
She goes by 'Nicole Desiree Simon'. I choose to delegate my excesses to her because of her great expertise. I suggest you look her up. To be honest, almost didn't buy the idea of letting someone handle growing my finances, but so glad I did!!!
My wife and my house will be paid of by the time we’re 35. Worth probably 350k by then, we will be totally debt free and it’ll be time to max out those investments !!
Dave, started investing in Bitcoin in early 2018 and started with approx $ 30 K and have been DCA and holding since then. I'm currently around $ 970 K ( I'm not joking ) and during the upcoming bull cycle ( Bitcoin halving in April 2024 ) I expect to at least 5X that amount. Since I've read 50 million people in the US alone have or have had crypto ( and growing ) you should cover it more. The SEC approved spot Bitcoin ETF's for Blackrock, Fidelity and about 8 or 9 others....Dave, crypto is going mainstream whether you approve or not, it's the best investment in the last 15 years....and that's a fact ! Just do some research on Bitcoin and open your eyes. Btw, just a side note, I'm your age Dave.....never too old to learn😎
Im actually starting to understand ramsey. If you are going to invest $200k based on a short radio segment, maybe 2 min phone call, then you ARE the type of person getting RE ideas from tiktok and WOULD be better off being conservative.
Imo if the interest rate is low on the mortgage I’d take the extra funds minus the emergency fund and put it in a low cost index fund from one of the big three asset managers and we know who they are after maxing out the Roth account of course. I then would make an extra payment towards the principle of the mortgage per month or at least a half payment. That’s what I would do but really if you don’t know then you should probably sit down with a fee only financial advisor that has good references.
The age of the low interest rate is over. You’re not going to see those low 2% to 3% mortgage rates from the Covid shutdown now or anytime soon. The housing market got too hot and needs a few years of higher interest rates to cool off. Don’t even bother thinking about low interest rates until 2030.
I'm a millionaire at 38 years old. I still have 120k I owe on my house that is only at 2.5%. I used all my money to max out Roths, buy houses, and invest because I can do basic math.
"So what you should do is take that $200,000 and pay off a large portion of your mortgage which you're only being charged 4% on instead of putting that $200,000 into an asset or an investment that will make you 15% to 20%." Some of you people are drowning in the Kool-Aid
Not sure he does know the math, here. $3,000 a month for 6 years, even if you managed 12% every single year, only amounts to about $317K. At $3,000 a month (even assuming a whopping 12% a year, compounded monthly), it would take over 12 years to reach $1M...
Well every day millionaires would disagree with you. But do your plan if that is what you want to do. No one cares if you don't want to pay off your house.
@@anonymoususer887 "I like paying interest and keeping a mortgage, because putting that money in a HYSA with today's rates will actually leave me with more money in the end than if I had paid it off early" is a total sensible approach to take
My question. I’m 75 wife 73. My house payment is $1090 of which includes taxes insurance interest and principal. Only $300 is in interest. I have over $300,000 in CDs. Where do you suggest I invest my money?
52:10 Strong BUY. Still early innings. NVIDIA is the dominant leader in AI and the preferred technology partner globally. Even w new competition on the horizon, NVIDIA is far ahead of the competition. 85% market share. 76% margin. Unrivaled demand for new Blackwell chip. Demand far exceeds production for Blackwell through to 2025 and beyond. No competitor has anything close to Blackwell. And forward P/E is about 33 (cheap for a high growth stock). Buy this stock and wait. You will be rewarded
When it comes to investment, diversification is key. That is why I have my interests set on key sectors based on performance and projected growth. They range from the EV sector, renewable energy, Tech and Health (AMD) alongside coins, and gold. I'm also working on an investment plan with my Fin. Advisor that includes AI looking into Nvidia, MSFT, Alphabet stocks among others. I've been utilising a financial advisor for more than 15 months now, and I've made over $800,000.
As a longtime NVDA holder, the stock is still going UP since the split. This video would have been accurate during June, but as of July and August, it still has done nothing but GROWN
@@Michelle_Sanders561 That's quite remarkable! I'm genuinely interested in benefiting from the guidance of such experienced advisors, especially considering the current state of my struggling portfolio. May I know the names of the advisors who has been assisting you in navigating these financial challenges?
Certainly, there are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with MONICA AYAKO VOS for about five years now, and her performance has been consistently impressive.
I just googled her name and I'm really impressed with her credentials; I reached out to her since I need all the assistance I can get. I just scheduled a call.
I'm favoured, Getting my own Truck has always been my Dream for my business. I just acquired 2 recently, earning $18K weekly was really helpful. I can now give back to the locals in my community and also support Charity Organizations.
Theres about 10 questions missing from this call. Biggest one being how old his kids are and whether or not hes got an emergency fund separate from the 200k. If kids are 3 and 6, Im dropping 80k a piece in 529s and you can pretty much call it a day unless they're gonna go to harvard or something.
I’d pay off my house if I had $200k available. The stock market is so volatile these days and it is better to be diversified just in case something goes wrong with one of my investments. The SEC also has very little protection for the stock investors.
I understand if your mortgage interest rate is high, pay it off early. But if a CD has higher returns than your interest rate, I don’t understand why pay it off?
Yeah mine is 2.4% only 125k I'd rather get a as much on my roth and taxable accounts in and build that base while I slowly pay lower than inflation rates on almost free money
In a long term, it is better to pay off mortgage than putting in CD. Mortgage normally has a higher balance to pay off than deposits in CDs and the mortgage interest compounds. One should always look at the mortgage amortization schedule to understand how much interest to be paid over the term. Last year and now until the federal reserve lowers the interest rates, CD may have higher interest rate but it really depends on how much you put into the CD that will be better than paying off mortgage.
Dave has covered this topic many times. Dave likes a paid off house so it lowers the risk. When you’re trying to pay off the house, invest, and do 10 things at once, you lose focus. Getting rid of your mortgage reduces the risk of losing your home in the event of income loss.
Ramsey is garbage for investment advice because they pretend interest rates don't matter. They just blindly preach these silly steps. As a thought exercise, one could have a billion dollars cash, a billion dollar debt at 0% interest, a billion dollar investment opportunity at a guaranteed 10,000% ROI, and if they called in and asked for advice, Ramsey would recommend they use the money to pay off that 0% loan. Ramsey is great if one's problem is along the lines of "I make 15 bucks an hour and have a car payment of 1000/mo and can't figure out why i'm struggling" anything more complex than that these guys should be the last place one goes for advice.
reasons to pay it off early; you have worries about income stability/fluctuation; you have no confidence in your ability to manage even the simplest safest, guaranteed investments, and you have a history or making poor financial decisions and extreme problems dealing with debt. That's Dave's target market, not people with financial discipline and confidence in investing. That exact point if investment return vs interest is ultimately going to be based on your risk tolerance. With current mortgage rates of 6%; paying off early now is the better call. if your rate is below 3% and you have career security and good health, good term life insurance, then invest.
I don’t necessarily disagree with Dave but he has mixed info. He constantly tells people they should expect 12% returns and can withdraw 8-10%. He then turns around and tells people who might have a 2% mortgage rate to pay off their house. You can’t guarantee one while at the same time act like the house is more important.
Ok, I understand the compound interest. I have invested with a money management company. But the compound interest ???? I am seeing mediocre growth at best. Only what I put in is the amount of growth at the end of each year. From what you are saying Dave doesn't match what I am seeing in the way of growth with my mutual funds.
Take your money out of the money management company, and put in a broad market low cost index fund. The stock market has been through the roof for most of the last decade, you'd have to practically try not to be earning interest hand over foot if you had it in all that time.
He should put about $50K in his emergency fund and invest the rest in a taxable brokerage account. The baby steps are designed for people with behavior problems that this caller doesn't have, which means it's a math problem and investing now and taking advantage of compound growth is much better than paying off the mortgage now.
@@Captaine_Crunche. That only works if you’re investing the exact same amount as you owe on your current mortgage. Money markets are paying over 5%. If your mortgage has less interest, by all means invest in the money market instead. But beware of the tax implications.
@@Captaine_Crunche With the interest hikes lately though it's not worth it. It might have made sense pre pandemic when the interest rates are low but right now not so much.
@@bmc9587based on my own amortization schedule, after 30 years I will pay about 92k in mortgage interest. That's nothing compared to what I will earn just investing in the S&P for 30 years.
Nah he should put a good chunk of it in index funds or etfs. That money grows much faster than the owed interest on a mortgage. Unless your house is in a bad area causing its worth the grow slower than the inflation, paying off the mortgage may not be the most optimal thing to do.
Ramsey lives in absolutes on his outdated Baby Steps. Never take advice from someone that deals in absolutes. You do what makes sense. If your mortgage is like the 7, 8% interest with the current market, obviously pay towards your mortgage. But if your mortgage is sub 4% as was pre-pandemic, you are better off investing with better compound return (even after accounting for tax implications).
by his own account the stock market delivers 10% so why pay off the old 3% mortgage, i.e. make 3% on your money? what if the mortgage was 0%? still the same advice? the math doesn't make sense but i agree with him, more from a peace of mind pov. a paid off home is like a giant weight off one's shoulders.
Stock market average 10%. Depends on the stock. Also, that average is over time if you have the time to stick it out in the stock market it will return 10% if not you're better off paying your mortgage and then purchasing stock if that's what you want to do
Peace of mind and risk mitigation. If you pay off your mortgage, you are less likely to take out a second mortgage and go back into debt, than you are to panic sell your investments if the market drops.
except if you have the money to pay it off and invest it instead, beauty is it will probably still be there if and when you need it. Stocks are volatile, but even in the very rare event you lose 30% of your $200k investment, you still have $140k, and that's a lot of mortgage payments.@@catherineskis
Correct. Not only is 2-3% actually *negative* interest when adjusted for inflation, it's tax deductible to boot. Paying it off instead of investing (you could even put it in an online savings account and earn 5%) makes zero sense. If you're one of those who argue "what if you lose your job or get laid off, there goes your house!," then just put all the money in CD ladders, bonds, or an online savings account, it will still be there if you do ever need it, and you can even still pay off your mortgage then if you really need to!
Der Mr. Pavlov, Quit telling people "It's tax deductible". Something is only tax deductible if you make enough money to itemize. I give to my church but I don't make enough money to itemize and therefore it is not tax deductible and niether is my house!
It absolutely is "tax deductible." While it may be true that the deduction is of no benefit if you don't have sufficient deductions to get beyond the standard deduction, that's true for anything that's tax deductible, including your church donations. @@catherineskis
Baby step millionaire, you will eventually be a millionaire. Investor millionaire, you will be a millionaire within a decade and then you can start babysteps
VOO does not average 12%. You can’t find a fund over the past 40 has averaged 12%, because the S&P hasn’t averaged that. How Dave promotes that is beyond me.
Correct. And it's not the *average* return that matters anyways, it's the compound annual growth rate (Google S&P CAGR to see what it's been over various timeframes). VOO or QQQ or similar index ETFs are as good a place as any.@@staleydu1
Way back a thousand years ago when I took finance in college, we were taught not to include your primary residence in the net worth calculation. But as the housing bubbles have come and gone over the years, it became irresistable to include primary residence in the net worth calculation, you might even consider youself a millionaire based solely on your house, so now it is the rule not the exception. As a dinosaur I still don't count it, but I fully get why everyone else does.
See, I can't understand that thinking. So if I had 1 million dollars cash and spent $500k on a house, according to that calculation, I'd suddenly be worth $500k less? That makes zero sense imo.
@@OneAndOnlyKJx Whatever makes you happy. What happens when the housing market craters and your house is worth $300k? Are you no longer worth $1mm?? It's all an illusion anyway. Again I say, whatever makes you happy.
I dont really understand the benefit of including it, unless you plan on selling your house and renting. If you plan on living in your house in retirement you wouldnt count it at all, and if you plan on selling your house and buying a new one, then you would count the cash you had left over after the new home purchase.
@@Psuedo-Nim You want to include it in order to get a complete picture of your financials, and you would include it in certain situations such as applying for a mortgage. But yes, you are correct in that a lot of people get caught up in the end number, but don't think about the composition of the numbers.
Agreed. You need to live somewhere and a paid for house in my area still beats paying the market rent with that cash. So I don't include it. It's my ultimate emergency fund, but more likely $$ going to the kids. My mortgage is gone. It feels great watching interest rates from the bleachers.
If you have a mortgage, you are in debt. That 200k doesn't exist. Pay down the stupid mortgage . Caller gonna blow that 200k on a drop shipping course, crypto, forex, car rental business , a duplex, a real estate joint venture , an exersize clothes business and a business sydnicate thats looking to invest in Subways. I know a bunch of folks like him. He has a mortgage, hes still a slave, hes the perfect mark, unfortunately. Then when he's blown all that cash, hes gonna try his hand at being an "influencer". He will hock a channel, ebook, mentorship and an event of some sort.
You have to wait longer. Investing isn't a make money quick scheme, it's a part of a lifestyle of building wealth over time... Continue to invest and in a few years, you'll see that it was a great decision. Best of luck until then! 🤞🙂
I personally would love to have a paid for house. But there's people who are able to build wealth leveraging money. Why does Dave keep denying this lol
@@TradingWithJesseWcorrect. Building wealth by leverage is not easy and high risk. Best to forgo the high reward approach and take the more sure thing.
My mentor became a multi millionaire by utilizing debt and leveraging helocs. I have seen the scenario work out well. But, I have also seen someone lose everything utilizing debt. They went from huge beautiful house to shack in less than 4 years.
Because you only hear about the successes when it comes to using debt. For every success there's millions of failures and those people don't come out and tell the world out of shame. Dave is right in telling people not to use debt because debt requires a great consistency in payments something which 95% of the population lacks.
Not saying youre wrong..or right. But when people say what you just said, the listener immediately doesnt take you seriously. Why? Because most of the time, its your "broke uncle" saying that.
@@stevegolacks8731 real rich people leverage money Poor people work for money and use the slowest method to save up a few mils over 30 40 years, no, i will pass
I wish they taught investing at school level. There is so much advantage to doing this!
My biggest regret is that I started so late.
I'm approaching retirement and having a financial advisor has been helpful. I started investing later than most, so relying on compound interest from Etf's or bonds alone wasn’t enough for me. Despite that, I’ve managed to do well and am on track to retire with around $2 million
@@ClemonSteve I'm currently evaluating my portfolio and could use some guidance. How can I get in touch with your advisor?
@@MichaelGabreil I usually avoid making specific recommendations because everyone's situation is unique. However, my experience with Julie Ann Lerch has been quite positive. You might find it worthwhile to see if her approach fits your needs
@@ClemonSteve I looked for the name online and found her page.I will get in touch with her,Thanks for the help
I emailed and made inquiries. Thanks for the help
I feel investors should be focusing on under-the-radar stocks, and considering the current rollercoaster nature of the stock market, Because 35% of my $270k portfolio comprises of plummeting stocks which were once revered and i don't know where to go here out of devastation.
Safest approach i feel to tackle it is to diversify investments. By spreading investments across different asset classes, like bonds, real estate, and international stocks, they can reduce the impact of a market meltdown. its important to seek the guidance of an expert
True, A lot of folks downplay the role of advlsors until being burnt by their own emotions. I remember couple summers back, after my lengthy divorce, I needed a good boost to help my business stay afloat, hence I researched for licensed advisors and came across someone of utmost qualifications. She's helped grow my reserve notwithstanding inflation, from $275k to $850k.
How can I participate in this? I sincerely aspire to establish a secure financlal future and am eager to participate. Who is the driving force behind your success?
Credits to 'Natalie Marie Tuttle' she has a web presence, so you can simply
She appears to be well-educated and well-read. I ran an online search on her name and came across her website; thank you for sharing.
I have $170K in NVIDIA right now. I only got into stocks to try and make anything to help afford some medical infusion treatment that I need. I know it’s a risky game especially for someone like me who isn’t focusing hard on the market. I just don't want to make any wrong move. Do I hold or sell and buy back? Genuinely asking for any advice.
You don't sound like a very conservative investor like me. Lol.....Hold on. you're in for a long run..
Well all i know is that you cannot go wrong taking profit at near high. No one ever went broke taking a 10% loss. It's best if you consult with a fiduciary advisor to get informed buying & selling decisions..
You have a very valid point, I started investing on my own and for a long time, the market was really ripping me off. I decided to hire a CFA, even though I was skeptical at first, and I beat the market by more than 14.3%. I thought it was a fluke until it happened two years in a row, and so I’ve been sticking to investing via an advisor.
This is all new to me, How do I find a suitable fiduciary advisor, can you recommend any?
Sophia Nadene Morgan is the licensed advisor I use. Just research the name online. You'd find necessary details to work with and set up an appointment.
Kept $105k in CIT Bank HYSA at 5.05% but i now plan to invest in the stock market. What are your thoughts on that? What stocks should I look out for as a newbie to safely grow my money?
It’s best if you buy growth/blue-chip/large caps stocks only. Also, as a newbie it’s advisable you work with a financial coach to help set up a well-structured portfolio.
Apt!! I was self-managing my portfolio but suffered heavy losses in 2022 and i knew i couldn't continue like that, so i consulted a fiduciary advisor. By restructuring and diversifying my $1.2M portfolio with dividend-paying stocks, ETFs, Mutual funds and REITs, I significantly boosted my portfolio, achieving an annualized gain of 28%.
@@LionTowercoporation I appreciate the implementation of ideas and strategies that result to unmeasurable progress, thus the search for a reputable advisor, mind sharing info of this person guiding you please?
Finding financial advisors like Colleen Janie Towe who can assist you shape your portfolio would be a very creative option. There will be difficult times ahead, and prudent personal money management will be essential to navigating them.
@@LionTowercoporation Thank you for the lead. I searched her up, and I have sent her an email. I hope she gets back to me soon.
As an investing enthusiast, I've kept asides a good sum of capital to invest for financial independence and early retirement, but my concern right now is the market rally being a propaganda. Is this really a good time to buy stocks, or do I wait for crash?
the stock market can appear as a bewildering cauldron of fake news for new investors. I would advise using a CFP, give him/her 2/3 and then invest the 1/3 on your own, but only if you have time to track stocks and educate yourself
First two years I lost money, until I got my sea legs actually by the help of a certified financial planner, my portfolio is well-matched for every season of the market, and recently hit 7-figure after 5 years of subsequent investments. I'm retired and never leaving the mkt.
in times like these, it's crucial to be cautious and not rush into the market , Who is this your FA , my portfolio needs urgent attention , been a lot of loss.
Christine Ann Podgorny is the licensed coach I use. Just research the name. You'd find necessary details to work with a correspondence to set up an appointment.
I appreciate it. After searching her name online and reviewing her credentials, I'm quite impressed. I've contacted her as I could use all the help I can get. A call has been scheduled.
Great video! I really do have a question. For someone with less than $300,000 to invest, how would you recommend we enter the market? I am looking at studying some traders and copying their strategy rather than investing myself and losing money emotionally. What’s your take on this approach?
Safest approach i feel to tackle it is to diversify investments. By spreading investments across different asset classes, like bonds, real estate, and international stocks, they can reduce the impact of a market meltdown. its important to seek the guidance of an expert
True, A lot of folks downplay the role of advlsors until being burnt by their own emotions. I remember couple summers back, after my lengthy divorce, I needed a good boost to help my business stay afloat, hence I researched for licensed advisors and came across someone of utmost qualifications. She's helped grow my reserve notwithstanding inflation, from $275k to $850k.
NYCOLE CHRISTINA VANNATA is the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.
Thank you for the lead. I searched her up, and I have sent her an email. I hope she gets back to me soon.
I am regretting not investing in stocks last year but still grateful i kept my money. I'm hoping to retire this year Sep at 55 on my birthday. Considering the current rollercoaster nature of the stock market was the mean reason i decided to stay on the sideline for awhile, now I’m worried with the numerous bank failures as of late, am I better off reinvesting my savings in the stock market or do I wait?
Its best if you buy growth/blue-chip/large caps stocks only but Its unclear which stocks and sectors will lead the market in the next uptrend. It's advisable you work with an fiduciary advisor to help set up a well-structured portfolio
my plan next year is going on 80% equities 20% cash. One of the things I have learned in my years of investing is not to completely move in or move out of investments, if you have quality assets. It is better to trim, and then hold some cash for buying opportunities. Before the latest drop in the market was down to $105k but currently at $650k, marking a 25% increase from last year
I'm looking to give stocks another shot after staying on the sidelines since the pandemic. Being heavily liquid, I'd rather not reinvent the wheel. Since this strategy works for you can you advice me on stocks to pick?
How can someone find a trustworthy financial planner? I'm interested in connecting with the professional who assisted you. I'll be retiring in two years and could use guidance on managing my larger portfolio. I want to ensure I make the right choice and avoid any risks.
Selecting an advisor is a deeply personal decision. I follow the guidance of "Amanda Kathryn Sachs" to achieve my growth objectives and steer clear of errors. Amanda is a highly qualified individual, and finding her website online is straightforward.
It was suggested that, with inflation at a four-decade high, now is the best time ever for a financial breakthrough. In my portfolio, I have roughly $250k that needs to grow because it's stagnating. What is the best way to profit from this downturn?
Lots of individuals undervalue the function of advisors until they are burned by their own emotions. I remember a couple of summers ago, following my lengthy divorce, I needed a good boost to assist my business stay alive, so I looked for licenced advisors and found someone with the highest qualifications. Despite inflation, she has helped me increase my reserve from $275k to $850k.
Maria Leticia Monroe is the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment..
I just googled her and I'm really impressed with her credentials; I reached out to her since I need all the assistance I can get. I just scheduled a caII.
I aim to reallocate my $2 million portfolio. What's the most effective strategy to hedge my portfolio and generate profits?
Considering diversification is excellent. Now might be a good time to consult a financial advis0r for expert advice and seize opportunities in this volatile market.
You're right mate! I’ve been using a fin-market expert for two years now and I own a 7figure diversified portfolio from investing in stocks. Currently, my portfolio is worth over $900k.
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?.
Nicole Desiree Simon is the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.
She appears to be well-educated and well-read. I ran an online search on her name and came across her website; thank you for sharing.
Amazing content! I have been following your videos for sometime now, consistently kicking down Wall Street doors for two years now, I have over $320k in stocks. Currently, my portfolio is down by 15%. Wondering if they're any short term opportunities I can invest in.
I agree that there are strategies that could be put in place for solid gains regardless of economy or market condition, but such executions are usually carried out by investment experts or advisors with experience
Reason I decided to work closely with an brokerage-adviser ever since the market got really tensed and the pressure became so much(I should be retiring in 17months) so I've had an brokerage-adviser guide me through the chaos, its been 9months and counting and I've made approx. 650K net from all of my holdings.
Glad to have stumbled on this comment, Please who is the consultant that assist you and if you don't mind, how do I get in touch with them?
Elisse Laparche Ewing is the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.
She appears to be well-educated and well-read. I ran an online search on her name and came across her website; thank you for sharing.
If he's not close to retirement why not invest that 200k in an account and then double your payments towards house..the math says let that 200k compound now instead of pay house off with it which will eventually be paid off when he retires anyway
While i admire long term investors, I really don't know what to expect. For instance, if i invest 500k what would my portfolio look like in 2030?
Well, in my opinion, If you invested it right now (during the market’s downturn) you’d be buying at a low price which is highly recommended by my fa and based on past performances in the market in 2030 with the right coach you should have four and a half million in your portfolio sitting pretty.
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?
Her name is Dianne Sarah Olson…she's quite known, do your due diligence on her name. Goodluck
I was able to find her webpage and leave a mail after going through her credentials, i'm willing to make consultations to improve my portfolio. Love this channel for it's transparency.
The thoughts and ideas here are remarkable
Putting that much money in a stock market is very scary for me. Today I’d rather have these $200k in a 4.5% savings account than in the stock market. There’s so much instability right now with Ukraine, Taiwan, Middle East, Covid still mutating, etc… It’s just too risky.
There is always something to worry about bud, the market will continue to go up overtime regardless
I like the HYSA option too.
Rule of Thumb: If you have to call up a radio talk show host to ask if you should be investing in real estate, you probably shouldn't be investing in real estate.
100% into VTI!
No way I'm paying back my 3% loan early! Heck, you can make 5% right now with money just siting in a savings account. If I put all the money toward paying my house 12 years back I would have not been able to buy half dozen+ rental properties that have quadrupled in value, and cash flow like crazy. The cash flow pays my mortgage payment++ now. The primary mortgage rate is less than inflation. Thank you banks! Dave caters to the masses that can't work with money properly....which is good advice for most.
Different strokes for different folks. I've lived similar to how you are living financially, but now at pushing 50, I prefer simplicity and time/energy margin which means a paid for home and as little BS as possible. This allows us to chase our passions and honor our values on another level.
You lost credibility at quadrupled lol
It's for real. Bought several in east Durham for $25k, 23k, 35k etc and spent about $40K-50k on each around 2011 to 2013. All foreclosures. Now they are valued between $275 to $450k. Refinanced them and got all my initial investment back out ($0 down)... BRRR method. So yes, Quadrupled is accurate and rents have doubled. What was $800/mo is now $1600/mo and considered low for most areas around here. Those were all 15 year loans and will be paid off soon. The math is clear! Cheers!@@Diageoung
You will have to pay taxes on the interest from the CDs.
Why do people say that they are dept free and then say they have a massive mortgage? They are delusional 😮
Same thoughts. Folks these days look to not consider mortgage as a debt.
When someone says "passive income" you know that they have never owned a rental property
The low of my brief foray into being a landlord was trying to mediate between my upstairs and downstairs tenants a full squabble about whose dog shed more. This was three weeks after the previous squabble of whose dog shit more. (Upstairs hired a dog poop picker upper once a week, and downstairs paid half for their dog. One day downstairs complains that upstairs dog is responsible for 70% of the poop while they paid half the bill……) and the kicker…… upstairs rent was $1500/month, downstairs $1100 and the MONTHLY charge for the dog poop picker was $70. They were squabbling over $35. Anyone reading this who wants to build wealth through income properties, believe me when I tell you…………. Pay the f….ing 10% and hire a property manager.
@@carpediem6431 That’s a great story. You should have paid for the poop service yourself and raised each of their rent by $50.
@@carpediem6431 I feel your pain.... LOL I am on a Landlords Facebook group - some of the horror stories they tell will make you want to sell everything and become a hermit...
Lol, self managed rentals are very tough. I can write a book about things I have seen.
Pay off 3% mortgage , no thanks. Thats cheap borrowing for 30 years , inflation hedged. Invest excess in S&P500 ETF every week , average returns 15% yearly over 5 , 10 , 20 year period. You can be double millionaire😊
For anyone wondering, the S&P500 returns over a 5, 10, 20 year period are approx 12%, 14%, and 10% respectively. Absolutely fantastic returns, just wanted to put that out there before anyone expected 15
The age of the low interest rate is over. You’re not going to see those low 2% to 3% mortgage rates from the Covid shutdown now or anytime soon. The housing market got too hot and needs a few years of higher interest rates to cool off. Don’t even bother thinking about low interest rates until 2030.
Yeah 3% is the cheapest money we'll see for a long time
@@JohnSmith-gz5pm The thing is the dude already has a mortgage. He might have bought his house when interest rates were low. If that's the case, it's stupid to pay off the mortgage. Better off putting it in Bitcoin 🤑
Paid off my house at 53. My wife and I have been able to stack cash, take care of large home projects, be crazy generous when our kids got married, and now sleep even better knowing we will retire on time. Stay out of debt and pay it all off asap. Too many living with mortgages they can afford.
Wealth is a mindset & discipline
I was advised to diversify my portfolio among several assets such as stocks and bonds since this can protect my portfolio for retirement of about $750k. I want to know: Do I keep contributing to my portfolio in these unstable markets, or do I look into alternative sectors?
Just try to diversify your portfolio to other market sectors, that way your investment is balanced and you don’t get to make so much losses.
I stopped listening and taking financial advise from these UA-camrs, because at the end of the day, I end up with a bunch of confusing stocks without knowing when to take profit, In reality, all I needed was professional advice.
I’ve actually been looking into advisors lately, the news
I've been seeing in the market hasn't been so encouraging. who's the person guiding you?
She goes by 'Wendy Birkett' . I choose to delegate my excesses to her because of her great expertise. I suggest you look her up. To be honest, almost didn't buy the idea of letting someone handle growing my finances, but so glad I did!!!
Really there is no better feeling than coming across a similar name who has helped change ones family life financially, Yes i know her and honestly i can testify her strategy is amazing and truly worth giving the shot.
No debt at all and have invested $200,000 as our Ramsey certified people suggested. Now we are getting $500 a month from this investment (and have been for several years) and we don't touch the principal at all. We are in our late 70's so we don't need to leave the interest in the account. We now have more than the first investment even though we take the interest money every month.
*The wisest thought that is in everyone's minds today is to invest in different income flows that do not depend on the government, especially with the current economic crisis around the world. This is still a good time to invest in gold, silver and digital currencies (BTC, ETH.... Stock)*
It's truly heart- warming reading a lot of testimonials on Eleanor Nelson. Her personality, ethics, principles and prowess as a Financial Adviser has gained her fame and recognition around the globe.
I'm favoured, $60K every week! I can now give back to the locals in my community and also support God's work and the church. God bless America,, all thanks to ms Eleanor😊🎉
Such information we don’t get from most UA-camrs, how can I get to her. ?
She's always active on Whats~App... 🎉
Her number down below ✨
There may be pullbacks in the markets this year, which are normal. But the overall market will go up throughout the year. I think we'll see more market diversification. Already looking to invest about $430k of my savings in stocks this year. 2024 is the year I make millions
Think risk is at an all-time high right now, perhaps you should be a little more patient and return when it has decreased. Alternatively, you can consult a trained financial expert for strategy.
I agree. This is why having the right plan is invaluable, my $510k portfolio is well-matched for every season of the market and recently hit 100% rise fromm early last year. I and my CFP are working on a more figures ballpark goal this 2024
could you be kind enough with details of your advser please?
She goes by 'Nicole Desiree Simon'. I choose to delegate my excesses to her because of her great expertise. I suggest you look her up. To be honest, almost didn't buy the idea of letting someone handle growing my finances, but so glad I did!!!
“Nicole Desiree Simon’’ You can easily look her up, she has years of financiaI market experience.
My wife and my house will be paid of by the time we’re 35. Worth probably 350k by then, we will be totally debt free and it’ll be time to max out those investments !!
When he said "passive income" you could see Dave had to really bite his tongue haha
VTI or VOO
Both
@@mhodge0890 I agree. 50-50
@@mhodge0890There's huge overlap because VTI contains VOO. If you have VTI, you don't need VOO as well.
VOO
What do you do if you only have mortgage payment, but want to build/buy a bigger home for your family?
Dave, started investing in Bitcoin in early 2018 and started with approx $ 30 K and have been DCA and holding since then. I'm currently around $ 970 K ( I'm not joking ) and during the upcoming bull cycle ( Bitcoin halving in April 2024 ) I expect to at least 5X that amount. Since I've read 50 million people in the US alone have or have had crypto ( and growing ) you should cover it more. The SEC approved spot Bitcoin ETF's for Blackrock, Fidelity and about 8 or 9 others....Dave, crypto is going mainstream whether you approve or not, it's the best investment in the last 15 years....and that's a fact ! Just do some research on Bitcoin and open your eyes. Btw, just a side note, I'm your age Dave.....never too old to learn😎
Save money.
Im actually starting to understand ramsey. If you are going to invest $200k based on a short radio segment, maybe 2 min phone call, then you ARE the type of person getting RE ideas from tiktok and WOULD be better off being conservative.
Texas. No income taxes, but HUGE property taxes and HUGE insurance. If you can afford it, just forget about your mortgage and save.
Imo if the interest rate is low on the mortgage I’d take the extra funds minus the emergency fund and put it in a low cost index fund from one of the big three asset managers and we know who they are after maxing out the Roth account of course. I then would make an extra payment towards the principle of the mortgage per month or at least a half payment. That’s what I would do but really if you don’t know then you should probably sit down with a fee only financial advisor that has good references.
The age of the low interest rate is over. You’re not going to see those low 2% to 3% mortgage rates from the Covid shutdown now or anytime soon. The housing market got too hot and needs a few years of higher interest rates to cool off. Don’t even bother thinking about low interest rates until 2030.
principal*
I'm a millionaire at 38 years old. I still have 120k I owe on my house that is only at 2.5%. I used all my money to max out Roths, buy houses, and invest because I can do basic math.
Honestly, primary residence shouldn't be part of net worth calculation unless they're for sure can downgrade to smaller home or cheaper places.
It is part of THE definition whether you like it or not. No point in whining about how things "should" be.
I would love for Dave to talk about IBIT
"So what you should do is take that $200,000 and pay off a large portion of your mortgage which you're only being charged 4% on instead of putting that $200,000 into an asset or an investment that will make you 15% to 20%."
Some of you people are drowning in the Kool-Aid
Aint nuthin payin 20
@ofwoodsandwords4424 with that mindset you'll never find all the opportunities that do pay over 20%.
Not sure he does know the math, here. $3,000 a month for 6 years, even if you managed 12% every single year, only amounts to about $317K. At $3,000 a month (even assuming a whopping 12% a year, compounded monthly), it would take over 12 years to reach $1M...
I have $397K left on a 15-year mortgage @ 2.49%. It currently makes no sense to pay off debt when the interest rate is that low.
Yes it does.
Well every day millionaires would disagree with you. But do your plan if that is what you want to do. No one cares if you don't want to pay off your house.
@@anonymoususer887 "I like paying interest and keeping a mortgage, because putting that money in a HYSA with today's rates will actually leave me with more money in the end than if I had paid it off early" is a total sensible approach to take
Yup, I made 22% in the stock market last year, much better than paying off that 3% interest
@@stevethecheese Yep and if you get laid off and can't make a mtrg payment...there it all goes, 22% and all.
My question. I’m 75 wife 73. My house payment is $1090 of which includes taxes insurance interest and principal. Only $300 is in interest. I have over $300,000 in CDs. Where do you suggest I invest my money?
If the principal left on the mortgage is 300k or less, throw it all on. You'll have $1k + a month extra "income" by having no payment
Better than we all deserve.
52:10 Strong BUY. Still early innings. NVIDIA is the dominant leader in AI and the preferred technology partner globally. Even w new competition on the horizon, NVIDIA is far ahead of the competition. 85% market share. 76% margin. Unrivaled demand for new Blackwell chip. Demand far exceeds production for Blackwell through to 2025 and beyond. No competitor has anything close to Blackwell. And forward P/E is about 33 (cheap for a high growth stock). Buy this stock and wait. You will be rewarded
When it comes to investment, diversification is key. That is why I have my interests set on key sectors based on performance and projected growth. They range from the EV sector, renewable energy, Tech and Health (AMD) alongside coins, and gold. I'm also working on an investment plan with my Fin. Advisor that includes AI looking into Nvidia, MSFT, Alphabet stocks among others. I've been utilising a financial advisor for more than 15 months now, and I've made over $800,000.
As a longtime NVDA holder, the stock is still going UP since the split. This video would have been accurate during June, but as of July and August, it still has done nothing but GROWN
@@Michelle_Sanders561 That's quite remarkable! I'm genuinely interested in benefiting from the guidance of such experienced advisors, especially considering the current state of my struggling portfolio. May I know the names of the advisors who has been assisting you in navigating these financial challenges?
Certainly, there are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with MONICA AYAKO VOS for about five years now, and her performance has been consistently impressive.
I just googled her name and I'm really impressed with her credentials; I reached out to her since I need all the assistance I can get. I just scheduled a call.
I'm favoured, Getting my own Truck has always been my Dream for my business. I just acquired 2 recently, earning $18K weekly was really helpful. I can now give back to the locals in my community and also support Charity Organizations.
That’s really huge
I’m genuinely curious to know how you earn that much weekly
Big thanks to Elizabeth Marie Hawley
She's a licensed broker here in the states 🇺🇸
Her top notch guidance and expertise on digital market changed the game for me
Theres about 10 questions missing from this call. Biggest one being how old his kids are and whether or not hes got an emergency fund separate from the 200k. If kids are 3 and 6, Im dropping 80k a piece in 529s and you can pretty much call it a day unless they're gonna go to harvard or something.
People really need to learn how to invest in ETF’s and Mutual Funds that money could of doubled Smfh
I’d pay off my house if I had $200k available. The stock market is so volatile these days and it is better to be diversified just in case something goes wrong with one of my investments. The SEC also has very little protection for the stock investors.
Yep, exactly. Pay the house off and the peace of mind of having a house paid off is priceless.
Dear Sir, Thank you for this short video.
I understand if your mortgage interest rate is high, pay it off early. But if a CD has higher returns than your interest rate, I don’t understand why pay it off?
Yeah mine is 2.4% only 125k I'd rather get a as much on my roth and taxable accounts in and build that base while I slowly pay lower than inflation rates on almost free money
In a long term, it is better to pay off mortgage than putting in CD. Mortgage normally has a higher balance to pay off than deposits in CDs and the mortgage interest compounds. One should always look at the mortgage amortization schedule to understand how much interest to be paid over the term. Last year and now until the federal reserve lowers the interest rates, CD may have higher interest rate but it really depends on how much you put into the CD that will be better than paying off mortgage.
Dave has covered this topic many times. Dave likes a paid off house so it lowers the risk. When you’re trying to pay off the house, invest, and do 10 things at once, you lose focus. Getting rid of your mortgage reduces the risk of losing your home in the event of income loss.
Ramsey is garbage for investment advice because they pretend interest rates don't matter. They just blindly preach these silly steps. As a thought exercise, one could have a billion dollars cash, a billion dollar debt at 0% interest, a billion dollar investment opportunity at a guaranteed 10,000% ROI, and if they called in and asked for advice, Ramsey would recommend they use the money to pay off that 0% loan. Ramsey is great if one's problem is along the lines of "I make 15 bucks an hour and have a car payment of 1000/mo and can't figure out why i'm struggling" anything more complex than that these guys should be the last place one goes for advice.
reasons to pay it off early; you have worries about income stability/fluctuation; you have no confidence in your ability to manage even the simplest safest, guaranteed investments, and you have a history or making poor financial decisions and extreme problems dealing with debt. That's Dave's target market, not people with financial discipline and confidence in investing. That exact point if investment return vs interest is ultimately going to be based on your risk tolerance. With current mortgage rates of 6%; paying off early now is the better call. if your rate is below 3% and you have career security and good health, good term life insurance, then invest.
I don’t necessarily disagree with Dave but he has mixed info. He constantly tells people they should expect 12% returns and can withdraw 8-10%. He then turns around and tells people who might have a 2% mortgage rate to pay off their house. You can’t guarantee one while at the same time act like the house is more important.
good ?
house prices are going to crash! Does ramsey work for the banks????
Ok, I understand the compound interest. I have invested with a money management company. But the compound interest ???? I am seeing mediocre growth at best. Only what I put in is the amount of growth at the end of each year. From what you are saying Dave doesn't match what I am seeing in the way of growth with my mutual funds.
That’s Bidenomics
Take your money out of the money management company, and put in a broad market low cost index fund. The stock market has been through the roof for most of the last decade, you'd have to practically try not to be earning interest hand over foot if you had it in all that time.
Put the $200k in JEPQ
Sell cash secured puts with that cash.
Love cohost he is such a funny nerd.
Actually at 3k/month, it would take 14 years to become a million dollars at 10% annual return.
He should put about $50K in his emergency fund and invest the rest in a taxable brokerage account. The baby steps are designed for people with behavior problems that this caller doesn't have, which means it's a math problem and investing now and taking advantage of compound growth is much better than paying off the mortgage now.
You don't just save USA, Ramsey. It goes much further.
If it's a low interest rate, do no pay it off. Dave' way is not the only way.
I think people forget to consider once the mortgage is paid off, you have that monthly payment to then invest in something else
it depends on the interest, you're more likely to come out on top investing the difference if the interest is low.
@@Captaine_Crunche. That only works if you’re investing the exact same amount as you owe on your current mortgage. Money markets are paying over 5%. If your mortgage has less interest, by all means invest in the money market instead.
But beware of the tax implications.
@@Captaine_Crunche With the interest hikes lately though it's not worth it. It might have made sense pre pandemic when the interest rates are low but right now not so much.
@@bmc9587based on my own amortization schedule, after 30 years I will pay about 92k in mortgage interest. That's nothing compared to what I will earn just investing in the S&P for 30 years.
Is better for other people to spend so the stock market can keep going up
I’m 57 and have 300k. What should I do?
thank you
Dave had a $2,500 mortgage in the 1900’s! Dudes been rich forever & he’s teaching us for free.
Nah he should put a good chunk of it in index funds or etfs. That money grows much faster than the owed interest on a mortgage. Unless your house is in a bad area causing its worth the grow slower than the inflation, paying off the mortgage may not be the most optimal thing to do.
Go down to the roulette table at the local casino and put it all on black
Ramsey lives in absolutes on his outdated Baby Steps. Never take advice from someone that deals in absolutes. You do what makes sense. If your mortgage is like the 7, 8% interest with the current market, obviously pay towards your mortgage. But if your mortgage is sub 4% as was pre-pandemic, you are better off investing with better compound return (even after accounting for tax implications).
“Never take advice from someone that deals in absolutes” is an absolute hahaha
Wish I had 200k in the bank, 😢 I only have a mere 30k .
I'm 170k short
Half glass full perspective, that's pretty good.
LOL 😂, 30 thousand dollars can can be worthless tomorrow. Go buy silver or gold. It's always will be worth something. Especially years from now.
@@musicman7297probably should stick to the prepper & conspiracy channels buddy
30k in the bank is still killing it!
Well done you 👍🏻
I have £100 only :)
Baby steps are a general rule, doesn’t always make mathematical sense?
I’d say do voo and chill!
by his own account the stock market delivers 10% so why pay off the old 3% mortgage, i.e. make 3% on your money? what if the mortgage was 0%? still the same advice? the math doesn't make sense but i agree with him, more from a peace of mind pov. a paid off home is like a giant weight off one's shoulders.
Stock market average 10%. Depends on the stock. Also, that average is over time if you have the time to stick it out in the stock market it will return 10% if not you're better off paying your mortgage and then purchasing stock if that's what you want to do
Peace of mind and risk mitigation. If you pay off your mortgage, you are less likely to take out a second mortgage and go back into debt, than you are to panic sell your investments if the market drops.
I'm pretty sure Dave would still give the same advice, just like he says not to get 0% introductory rate credit cards and 0% auto loans.
Invest in tech stocks in the market.
if you have a mortgage at 2-3%, I would rather invest my money, and continue to make mortgage payments
And if you get hurt at work or laid off, then you can't make your house payments and there it all goes.
except if you have the money to pay it off and invest it instead, beauty is it will probably still be there if and when you need it. Stocks are volatile, but even in the very rare event you lose 30% of your $200k investment, you still have $140k, and that's a lot of mortgage payments.@@catherineskis
Correct. Not only is 2-3% actually *negative* interest when adjusted for inflation, it's tax deductible to boot. Paying it off instead of investing (you could even put it in an online savings account and earn 5%) makes zero sense. If you're one of those who argue "what if you lose your job or get laid off, there goes your house!," then just put all the money in CD ladders, bonds, or an online savings account, it will still be there if you do ever need it, and you can even still pay off your mortgage then if you really need to!
Der Mr. Pavlov, Quit telling people "It's tax deductible". Something is only tax deductible if you make enough money to itemize. I give to my church but I don't make enough money to itemize and therefore it is not tax deductible and niether is my house!
It absolutely is "tax deductible." While it may be true that the deduction is of no benefit if you don't have sufficient deductions to get beyond the standard deduction, that's true for anything that's tax deductible, including your church donations. @@catherineskis
Rice and beans
Baby step millionaire, you will eventually be a millionaire.
Investor millionaire, you will be a millionaire within a decade and then you can start babysteps
Which funds, that is the question.
@MrWick-tx8hc I love Vanguard, they are incredibly amenable over the phone!
VOO does not average 12%. You can’t find a fund over the past 40 has averaged 12%, because the S&P hasn’t averaged that. How Dave promotes that is beyond me.
Correct. And it's not the *average* return that matters anyways, it's the compound annual growth rate (Google S&P CAGR to see what it's been over various timeframes). VOO or QQQ or similar index ETFs are as good a place as any.@@staleydu1
Way back a thousand years ago when I took finance in college, we were taught not to include your primary residence in the net worth calculation. But as the housing bubbles have come and gone over the years, it became irresistable to include primary residence in the net worth calculation, you might even consider youself a millionaire based solely on your house, so now it is the rule not the exception. As a dinosaur I still don't count it, but I fully get why everyone else does.
See, I can't understand that thinking. So if I had 1 million dollars cash and spent $500k on a house, according to that calculation, I'd suddenly be worth $500k less? That makes zero sense imo.
@@OneAndOnlyKJx Whatever makes you happy. What happens when the housing market craters and your house is worth $300k? Are you no longer worth $1mm?? It's all an illusion anyway. Again I say, whatever makes you happy.
I dont really understand the benefit of including it, unless you plan on selling your house and renting. If you plan on living in your house in retirement you wouldnt count it at all, and if you plan on selling your house and buying a new one, then you would count the cash you had left over after the new home purchase.
@@Psuedo-Nim You want to include it in order to get a complete picture of your financials, and you would include it in certain situations such as applying for a mortgage. But yes, you are correct in that a lot of people get caught up in the end number, but don't think about the composition of the numbers.
Agreed. You need to live somewhere and a paid for house in my area still beats paying the market rent with that cash. So I don't include it. It's my ultimate emergency fund, but more likely $$ going to the kids. My mortgage is gone. It feels great watching interest rates from the bleachers.
You've literally gotta be in the top 5 percent of earners if youre investing 3-4k a month
Depends on what you are investing in
Bruh, why pay off a mortgage if he might have a low interest rate locked in? Put it in Bitcoin it will be over $1 million by next year.
Bitcoin will always be a joke.
@@amireallythatgrumpy6508 Only a joke for those who don't buy it! 😂You missing out bro!
@@NATEG01what happened to it mooning after the ETF was released
Another caller who says "I have no debt, except this debt." 😆
lol
Pay off the house.
If you have a mortgage, you are in debt. That 200k doesn't exist. Pay down the stupid mortgage .
Caller gonna blow that 200k on a drop shipping course, crypto, forex, car rental business , a duplex, a real estate joint venture , an exersize clothes business and a business sydnicate thats looking to invest in Subways. I know a bunch of folks like him. He has a mortgage, hes still a slave, hes the perfect mark, unfortunately. Then when he's blown all that cash, hes gonna try his hand at being an "influencer". He will hock a channel, ebook, mentorship and an event of some sort.
Dude probably has a 2.9% mortgage and Dave's telling him to pay it off. bwhahahahaha
So I set up retirement mutual funds and it’s been about a year and it only grew in 2023 like 1-2% Dave’s always saying it grows 8-9% 🤷♂️
So invest better or wait longer
You have to wait longer. Investing isn't a make money quick scheme, it's a part of a lifestyle of building wealth over time... Continue to invest and in a few years, you'll see that it was a great decision. Best of luck until then! 🤞🙂
@@JadenHercules well I invested $6000 in 12 months and it’s only $6950 or something like that, so that’s not 8-9% so that is normal ?
@@jacobmonti453 oh I will keep investing and see what happens
@@propergarage4249 That's a 16% return in a year.. nothing to complain about at all.
Indian Pharmacist?
Financial freedom takes a lot but at last we think for those lazy people with 70percent of our money when we die
Hope you bought BTC
Next baby steps millionaire theme hour, Dave should ask if they made their millions by taking financial advice from tiktok
I personally would love to have a paid for house. But there's people who are able to build wealth leveraging money. Why does Dave keep denying this lol
Because the reality is his main audience cannot manage debt so he won’t even consider it for his audience.
@@TradingWithJesseWcorrect. Building wealth by leverage is not easy and high risk. Best to forgo the high reward approach and take the more sure thing.
My mentor became a multi millionaire by utilizing debt and leveraging helocs. I have seen the scenario work out well. But, I have also seen someone lose everything utilizing debt. They went from huge beautiful house to shack in less than 4 years.
Risk. Also it's not for the general population.
Because you only hear about the successes when it comes to using debt. For every success there's millions of failures and those people don't come out and tell the world out of shame. Dave is right in telling people not to use debt because debt requires a great consistency in payments something which 95% of the population lacks.
Ramsey should redo their millionaire study and interview 10,000 new people and see how it compares
Bitcoin and be a millionaire within 2 years 🎉😂
lol
It remains a joke.
The same people laughing at your comment will be the ones buying at the next all time high. 😂
Such bad advice for those with mortgages < 3%
a million aint all that. it just makes you comfortably poor.
It's still more than most people will ever have.
BUY A TRUCK!!1
lol
In 2008 it blew up 😂
And the unintelligent people panic sold
glass hands
Yes, yes, yes, but $3000/month won't get you to $1M super fast. It'll take roughly 13.5 years. 5-7 years? LMAO.
Right and if you had a $3000 mortgage payment some of that is taxes and insurance so you wouldn’t even be putting the full 3000 in most likely.
@@emilswanson-g5i Solid point. Depending on the state, it might be closer to $2000. Oh Dave, Dave, Dave.
@@emilswanson-g5i Correct, and depending on the state, it could be closer to $2000. SMH
Paying off the house is S T U P I D
Invest it
Not saying youre wrong..or right. But when people say what you just said, the listener immediately doesnt take you seriously. Why? Because most of the time, its your "broke uncle" saying that.
@@stevegolacks8731 real rich people leverage money
Poor people work for money and use the slowest method to save up a few mils over 30 40 years, no, i will pass
What's your networth John 😂
Passive real estate income? Lol buying rental homes is giving yourself a job. Its not passive!
Buy gold and silver
Gold is better because you don't lose so much paying a premium.
👎
@@MrTmenzo Poor cupcake. Don't have any? Can't afford it..... 🤣🤣🤣🤣🤣🤣🤣🤣
The dumbest thing a person can do.
Oh look it's the idiot who thinks money exists. @@musicman7297
Keep it safe in the bank. I did that for 40 years and retired at 55.
lol
I kept mine in my mattress. I retired at 100. 😂
Unfortunately; unless you have a big wheel barrel full of money to start with, inflation will eat that away over 40 years.
@@Psuedo-Nim lol
Buy stocks 😂