Excellent, excellent advice!!! I pay cash for older, reliable cars and drive them til they drop. My $115 K house was paid for in $15 years. I do not incur credit card debt. It can be done! Thanks, Mike! You are such an encouraging person.
Great advice! If your company offers a 401k or similar, take advantage of this. The earlier you invest in your retirement the better off you will be, so start now. Also, to clarify, housing at max 30% of income should include the basic utilities to function - electric, water, gas etc. The basic budget equation is 50% needs, 30% wants, 10% savings.
Mike, I understand what you are saying and it was perfect 20, 15, even 10 years ago but things are changing fast. The dollar is devaluing very fast and on the way to crashing, and when it does so will the stock market. The dollar is no longer the currency for buying oil. More and more countries are joining BRICS and developing a new global currency. We (the US) are in a recession and heading for a depression. The only true wealth in the not so distant future will be gold and silver, which is tangible and not a number on a spreadsheet. You are one of the smartest men I know - do some serious research into what is happening globally.
@@ycats0710 Get some cash flow going. Build about 6 months to 1 year of cash that can sustain your lifestyle if something bad happens and you can't earn anymore. Once you have a rainy day fund start putting everything above your expenses into the s&p 500 Index fund and do this for about 15 years straight.
Excellent, excellent advice!!! I pay cash for older, reliable cars and drive them til they drop. My $115 K house was paid for in $15 years. I do not incur credit card debt. It can be done! Thanks, Mike! You are such an encouraging person.
Great advice! If your company offers a 401k or similar, take advantage of this. The earlier you invest in your retirement the better off you will be, so start now. Also, to clarify, housing at max 30% of income should include the basic utilities to function - electric, water, gas etc. The basic budget equation is 50% needs, 30% wants, 10% savings.
Mike, I understand what you are saying and it was perfect 20, 15, even 10 years ago but things are changing fast. The dollar is devaluing very fast and on the way to crashing, and when it does so will the stock market. The dollar is no longer the currency for buying oil. More and more countries are joining BRICS and developing a new global currency. We (the US) are in a recession and heading for a depression. The only true wealth in the not so distant future will be gold and silver, which is tangible and not a number on a spreadsheet. You are one of the smartest men I know - do some serious research into what is happening globally.
Thx Mike. It’s awesome that you generally care about human welfare
@@vbarberful Sometimes 🤣🤣🤣. Yes I do. Thank you 🙏🙏
❤😊
💜💜
Pay for cars in cash??? Are you effing high? MOST people cannot do that! Unless you are buying a beater for $5000!
What about if you just lost all your savings by being scammed and is 49yrs old? How do i even start again.
@@ycats0710 Get some cash flow going. Build about 6 months to 1 year of cash that can sustain your lifestyle if something bad happens and you can't earn anymore. Once you have a rainy day fund start putting everything above your expenses into the s&p 500 Index fund and do this for about 15 years straight.
@@EZDatingCoach Thank you .
@@ycats0710 you're welcome