How To Retire In 10 Years (Starting With $0)
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- čas přidán 1. 06. 2024
- Lets talk about how to retire in 10 year, starting with $0, and how you can build a portfolio of investments to cover your daily expenses - enjoy! Add me on Instagram: GPStephan
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NUMBER ONE: IT MAKES NO DIFFERENCE HOW MUCH MONEY YOU MAKE
When it comes to achieving financial independence….it ONLY matters… how much of THAT income you can SAVE at the end of the day.
NUMBER TWO: SAVE MONEY
What most people DON’T know is that, based on your own income and expenses, you can calculate how long it’ll take you to retire - at your current savings rate - in less than 2 minutes:
networthify.com/calculator/ea...
NUMBER THREE: REDUCE EXPENSES
For the sake of saving more money and moving up your “RETIREMENT TIMELINE,” - especially in the next 10 years - you MUST do ANYTHING POSSIBLE to save more money, and you HAVE TO LIVE BELOW YOUR MEANS. Remember, for every 5% of EXTRA income that you save…you’re able to retire up to SEVERAL YEARS EARLIER…so, every little bit counts.
NUMBER FOUR: STAY AWAY FROM HIGH INTEREST DEBT
For myself, I make sure to NEVER carry a credit card balance…I never finance anything I can’t afford…and, I stay away from ANY DEBT that’s not a low interest, tax deductible, fixed rate car payment or mortgage under 4% interest...that’s IT.
NUMBER SIX: INVEST CONSISTENTLY
-One, take advantage of your 401k, Roth IRA, and HSA accounts because these save you on taxes
-Two, Invest consistently, long term.
-Three, don’t time the market - just invest long term consistently, regardless of where the price is.
-Four, invest in a low-fee index fund that covers the entire market
-Five, wait. Let the markets do their thing - and, over time - you’ll make money.
NUMBER SEVEN: INCOME
Your BEST CHANCE at being able to retire in 10 years, and make a LOT of money, is to work a job or a side hustle that pays on RESULTS, not your TIME. If you get paid based on your RESULTS - then, hypothetically, you should be able to find ways to streamline those results and make more money, without working any harder.
I know some of this might be like “DUH!! TELL ME SOMETHING I DIDN’T KNOW” but…this is the truth….you MUST make enough money to be able to save 70-90% or more of your income for 10 years, and that’s the entire calculation, at it’s core, if you want to retire from nothing.
I understand it’s not for everyone, and the idea of “retirement” sounds miserable…but, for me…that just means I have the choice to pursue the projects, work, and hobbies I find the most fulfilling… not that I’ll stop working and just relax all day doing nothing. To me, THAT’S what “early retirement” is all about...it’s the FREEDOM from being able to make a conscious choice, each and every day, in terms of how you’re going to spend your time…if it’s making more money and working, great. If it’s spending all day on CZcams…fine. But, at least that choice is YOURS…and, for 10 years of nonstop work…I can say, it’s absolutely worth it.
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Graham: How to retire in 10 years at 30.
Me, 29: 😰
Same
Retiring at 40 isn’t a bad idea tho. Lots of people retire at like late 50s or even late 60s
40 is better than 65🤙🏽
I'm 31 😂
Boom 39 is still young to retire 😂
going to make my 5-year-old brother watch this so he can drop out of high school
Your brother sounds like he’s going places
@@DGBAntho xDD
🤣🤣
😂😂😂
😂😂
I save 80% of my income and I expect to be financially independent in 25 years from taxed investments alone. I'm from a poor country, so it's a pretty big deal for me
I'm 48yrs old living in Montreal. I believe my retirement is quite close and I'll if things go according to plan. Bought my first house last month and I would say I'm a lot happier than you think. I'm glad I made certain good decisions that turned things around.
@@AmFaucher255 Congratulations. You're really doing well for yourself, I aspire to own my home, that's really a big flex….I would appreciate if you share tips, thanks.
I have been utilizing a coach for daily investment decisions for the past three years, resulting in over $1 million in gains. My coach's analysis has prevented losses and guided me to make the most of market breakthroughs, particularly during downtrends. Their expertise in safe haven asset trading and short-selling strategies has proven to be invaluable.
@@AmFaucher255 Nice, who is the FA aiding you if this is not much i'm asking? my retirement plans are going down the drain with my 401k particularly losing everything it gained ever since 2019
Her name is BRIANNA MCKEE HARRIS, can’t divulge much. Most likely, the internet should have her basic info, you can research if you like
Interesting video I'm in my 50s and I'm more interested in investments that could set me up for retirement , I mean I've heard of people that netted hundreds of thousands during these crash, I listened to someone on a podcast who earned over $650K in less than a year, what's the strategy behind such returns?
You're not doing anything wrong, you just don't have the required skillset to profit off a down market, folks that are making profit in this market are pros and experts with in-depth knowledge and skillset.
A lot of folks downplay the role of advisors 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 one find a verifiable financial planner? I would not mind looking up the professional that helped you. I will be retiring in two years and I might need some management on my much larger portfolio. Don't want to take any chances.
Sonya Lee Mitchell 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 searched her full name online and found her webpage. I emailed to make an appointment to talk with her; hopefully, she gets back to me.
It's recommended to save at least 15% of your income in a 401k. You can use online calculators to estimate how much you should save based on your age and income. Saving at least 15% of your income in a 401(k) can help ensure that you have enough money to retire comfortably. By saving this much, you can take advantage of compound interest and potentially grow your retirement savings over time.
Nah. I'd rather save in gold & silver.
Bots
I dont understand why you wouldnt just put into your 401k, whatever amount or percentage your employer would match? After maxing.out ur 401k, then put extra into a Roth IRA.
@davidortiz3094 an Oz of gold in 1932 would buy a nice suit.
An Oz of gold today would buy...a nice suit.
You won't have any capital gain but you will hedge inflation so you can expect the value to rise with inflation but in reality you won't have any more money than you initially bought the gold with.
GO AWAY
Awesome! I appreciate your viewpoint. I currently earn $600k per year. I have no home or investments, and my job is in New York because I work from home. I need to act quickly or else I'll owe the IRS thousands of dollars come tax season. What should I do?
To better understand the factors that could affect your finances as a beginner. To make the best decision, speak with a financial professional. They have a wealth of information regarding both current events and upcoming developments.
Opportunities are scarce; make an investment today to become financially independent. I am participating in numerous sectors with the help of a Financial Advisor, and success seems to be more straightforward than I had thought.
How can one find a verifiable financial planner? I would not mind looking up the professional that helped you. I will be retiring in two years and I might need some management on my much larger portfolio. Don't want to take any chances.
Her name is “Vivian Carol Gioia” can't divulge much. Most likely, the internet should have her basic info, you can research if you like
Thank you for this tip. it was easy to find your coach. Did my due diligence on her before scheduling a phone call with her. She seems proficient considering her resume
According to the New York Times, the average savings of a couple reaching retirement is $110k I’m closing in on my retirement and I’m under pressure to grow my reserve of $330k, despite the fact the capital gains you can make on growth stocks far outweigh dividend yields, and even in downtrends folks still pull off 6-7figures gains in months. surely the risk is much greater, but I’d love to know how.
The uncertainties accompanying this present market is more reasons I have my daily investment decisions guided by a portfolio-coach seeing that their entire skillset is built around going long and short at the same time, both employing profit-oriented strategy and laying off risk as a hedge against the inevitable downtrends, coupled with the exclusive information/analysis, it's quite impossible not to outperform. Netted over $1.5m in return on investment, since using a coach for about 2years.
there're tons of avenues to capitalize on in a downtrend to make substantial gains, but these opportunities and trades are successfully carried out by pros.
Lisa Ann Moberly, the coach i have been using for about 2years, you can read up on her, she's quite known and her works speaks for itself.
Thanks a lot! i got all i needed to know about returns on investment plans
Oh please tell me more about this lisa ann moberly she sounds like an amazing individual I must say her booty cheeks do be clapping has some may put and can definitely double my investments in less than a month if I am hard enough
One thought is to buy the dip and then wait to break even, another thought is: Will buying low during a recession work if I'm retiring in the next 3years, I'm no way near prepared for retirement and I just need strategies to scale up to atleast 2million by the time I'm set to retire
I think it's especially difficult for people who are retired or about to retire. My apologies to everyone who retired during this time after putting in all those years of work just to lose everything to a problem you weren't to blame for.
it all depends on how long you're willing to hold for and your strategies, stocks might likely tank further, but making serious gains in this downtrend shouldn't be a problem if you're a pro
@Dan Brooks That's impressive, my portfolio have been tanking all year, tried learning new strategies to gain in the current market but all of that flew right over head, please would you mind recommending the invt-adviser you're using?
@Dan Brooks I did look her up, I see why she booked up, her creds/resumé is topnotch. I booked a consultation with her regardless.
Jesus are all of these comments bots spamming?
The retirement fund that my wife and I have built up is doing quite nicely. The majority of the money, which averaged roughly $2 million, was made by taking advantage of the opportunity to purchase luxury stocks at a significant discount during the Great Recession. 2009 saw my stockbroker fired, all of my mutual funds liquidated, and I purchase individual dividend stocks. You can succeed if you are patient, don't panic, and do your homework.
As a result, the best players and professionals have access to confidential information and data sources. Knowing the tactics to employ at this time is one thing; having the knowledge necessary to put them into successful practise is quite another.
@@alexyoung3126 I concur. According to my own experience with fiduciary counsellor ''Eileen Ruth Sparks'', having $385k in a well-diversified portfolio that has increased by 3x via compounding, venture capital doesn't only come down to money; you also need to be knowledgeable, patient, and have strong financial backing.
@@stephaniestella213 You can easily look her up not he web, she has years of financial market experience.
Luck.
@davecrupel2817 To a degree yes. But you will also never hit luck without taking risk.
I started living like I was broke earlier this year and I love it lol. I have thousands saved up, my gold collection is growing, and I feel more disciplined. It's not what you make its what you do with it that counts.
there is literally no reason to live like all the consumers online. delete social medias and create stability in your life is more rewarding
At 42, I've come to realize that money is a tool. I’ve worked so hard over the years to realize that if you don’t make money work for you, you can’t experience true freedom. I’m glad I found that out although it was later in life, but that marked the turning point in my finances.
I'm in my late 30’s. Once I get paid, I begin to spend on irrelevant things. I work hard for my money, so I believe I can spend it on what I like. The older I get, the more my perspective shifts. I want to take my finances into consideration and put myself in order before it's too late. How are you doing it, Sir?
Herman Jonas, an astute financial analyst is the brain behind my success. I've gotten into a plethora of assets with $33k spread across stocks (options and futures) for the short term and Roth IRA, index funds, and ETFs, for the long term. Now I sit back, and just reinvest at intervals while I enjoy my retirement.
Do not forget that when it comes to the stock market, prices can be erratic, rising and declining quickly, often in relation to companies' policies, which individual investors do not influence.
How can I reach him, please? I'm buoyed by the good recommendations I’ve come across elsewhere. I need help with my trades. I'm ready to pay for his services.
I appreciate the feedback. I reached out to him via the mail you provided and we talked at length. I found him to be verified. I’m glad that I signed up and I've begun my journey with him. Thanks again.
When he said “In some cases your housing can take up 50% of your income!”
I giggled a bit then started crying.
But at least that money is back in your pocket and not a landlord!
@@katyapak3854 Unless you're renting and rent is still over 50% of your income 😢. Until recently I was paying 590€ in rent and earning about 900€ every month.
live in a car. only the macho can survive this, if you have a family you cannot do this. do it now and secure your familys future
@@katyapak3854 a ton of one bedroom apartments are more than 2/3 of the average individuals income
That's illegal in quite a few places. @@daysgo5514
I make less than 50k after taxes a year as a single father. I’m in my mid 30s but I am trying. Since I began watching your videos and implementing some of your strategies. I’ve become a much more stable financially. Also starting to look into online courses so I can learn to code. Truly appreciate your input on everything.
Whatever you do, stay out of debt and you'll be way ahead of the game
What's needed? Liquid cash. Everyone only has credit. If you have stacks of cash, you can capitalize on everyone's credit. A recession as bad it can be, provides good buying opportunities in the markets if you’re careful and it can also create volatility giving great short time buy and sell opportunities too. This is not financial advise but get buying.
Cash can be king , but it depends on how much you have. I.E- if you have $300K cash when the house market crash occurs you will have a LOT more opportunities VS many others especially when people get foreclosed.
You are right! I diversified my $550K
portfolio across various market with the
aid of an investment coach, I have been able to generate a little bit above $1.2m in net profit across high dividend yield stocks, ETF and bonds during this red season.
who is this individual guiding you? I lost over $12800 just last week, so I’m in dire need of a financial___planner#.
JOHANNA MUSSCHE is my FA. schedule a call with her on her web page after doing your due dilligence.
Johanna really seems to know her stuff. I found her web~~site,,, read through her resume, educational background, qualifications and it was really impressive. She is a fiduciary who will act in my best interest. So, I booked a session with her
I am very privileged to only be 18 years old watching this vid and being ready to apply the concept
You have time. Make sue you set a plan and act
I feel privileged being 18 too. Ive been trying to heal myself for and bit, and now have the ambition to get my life together as quick as possible
I'm in my 50s and I'm more interested in investments that could set me up for retirement , I mean I've heard of people that netted hundreds of thousands during these crash, I listened to someone on a podcast who earned over $650K in less than a year, what's the strategy behind such returns?
Nigerian scammers on this thread
I think it would be easy for anyone to retire in 10 years while making millions on CZcams!
Investing is all about knowing bearish periods ultimately establish a new crop of stocks to buy and watch while setting the stage for a robust new uptrend.I have been reading articles of people that grossed profits up to $250k during this crash, what are the best stocks to buy now or put on a watchlist?
You’re right! The current market might give opportunities to maximize profi.t, but in order to execute such effective transactions, you must be a skilled practitioner
On the contrary, even if you’re not skilled, it is still possible to hire one. I am a project manager and my personal port-folio of approximately $750k took a big hit in April due to the crash. I quickly got in touch with a financial-planner that devised a defensive strategy to protect and profit from my port-folio this red season. I’ve made over $150k since then
.On the contrary, even if you’re not skilled, it is still possible to hire one. I am a project manager and my personal port-folio of approximately $750k took a big hit in April due to the crash. I quickly got in touch with a financial-planner that devised a defensive strategy to protect and profit from my port-folio this red season. I’ve made over $150k since then
@@lucagreco1787 that's heavy! I could really use the exprtse of these advisrs, my port-folio has been down bad....whose the person guiding.
My advisor is "Frances Annette Batista" You can easily look her up, she has years of financial market experience
Highly recommend watching this video a year after watching it the first time, really puts into perspective what i've learned in a year and how little I understood the terminology the first time I watched it.
Great video, I think it’s one that can be watched over and over until you can apply the majority of the info to your daily life. 🙌🏽
Graham, do you ever give talks at schools? Kids and their parents need to hear you. This sort of thing SHOULD be taught in school.
Totally agree! The earlier you start investing, the better.
Unfortunately the system does not want you to know this kind of stuff
@M Bank yeah and most of the countries, it's literally built for that purpose
I actually did teach "personal finance" pre-COVID at a school who are less fortunate. Because they deserve it most. It was truly an eye opening moment for them as well as for myself.
Don’t call it retirement… call it FREEDOM. You can work all your life if you want to.
True!
Exactly right, Buffett achieved financial independence early in life and is still working at 91!
@Caiden call it FREEDOM. Financial independence means you could do nothing and live. People wanna live their lives, not do nothing. Everyone chases $$, even billionaires, they want more and more. FREEDOM is you have choices, you have options, you can do with your life what makes u happy
Nah bruh screw that I’m retiring lmao
100% when I reach this people are going to assume I'm lazy because I "retired" but honestly I will still be working on small jobs that I would want when I want. I'm literally buying my freedom.
I love you man!
I'm living a very frugal life and started my financial freedom journey last year. You are an inspiration.
Whats up Graham it's guys here!! Did anyone else catch that? That's freaking awesome! I had to replay it a few times.
I like how you cited "be a creator not a consumer" -- this is for sure the mindset to keep earning instead of squandering it away
Definitely great advice.
@@grahamfan Indeed a mantra I will keep in mind as I keep hustling to hopefully make it someday!
@@MichelleMarki Good idea! You seem to have a great mind set as it is. I believe you will continue to do well in time.
@@grahamfan Thank you Justin!! I hope the best for you too! :D
@@MichelleMarki You're very welcome! Thank you very much! 😊
My expectation is for 2024 that markets starts to broaden out more,” what if the interest rates go up? i have a ton of questions....can I safely invest my $800k? I was advised to diversify my portfolio among several assets such as stocks and bonds since this can protect my portfolio for retirement,but don't know where to start.
It's crucial to have a well-thought-out strategy and not make impulsive moves based on short-term market fluctuations. Patience and a long-term perspective are key. You should consider a market expert to guide you
There are a lot of strategies to make tongue wetting profit especially in a down market, but such sophisticated trades can only be carried out by proper market experts
I’ve been down a ton, I’m only holding on so I can recoup, I really need help, who is this investment-adviser that guides you?
Thank you for this amazing tip. I just looked the name up, wrote her and scheduled a call.
GO AWAY
Exactly how we live. Always lived on way less than we make and I keep a very intentional budget. We have a paid off house that we bought for $100,000 and is worth over $300,000 now with sweat equity. We’re now worth over $2 mil with investments and in our early 30s. We work because we like what we do and we have a lot of fun camping and hiking with our kids. While our friends blow money on depreciating assets, we drive modest vehicles. You don’t need to blow money to have fun in life. We are comfortable, content, happy, and stress free.
Graham please do a video on getting tenants once you buy a house hacking home… lease agreement, choosing tenant, furnishing tips, etc. I think it would be very helpful for a lot of people, myself included. Thanks
I’ll be 35 this year. Got a very late start but, paid off my first property this week! Gonna leverage up to a multi-unit property next. I’ve been watching for a few years now, and I must say you have completely changed my mindset about money. Thank you!
Lol? How is paying off a property a late start at 35? Most millennials rent, let alone own a paid off property. You’re flexing and it’s obvious.
@@dw309 starting off late is relative - the video talked about retiring at 30 at the soonest, so yes it could be considered starting late
Yea man I started late too and retired at 32 :(
@@alaydrus89 better late than never started early and retired at 15
@@drdavinsky even with covid? Damn. Nice I just live frugally and habitually pump my folio.
Great inspiration! I'm 29 and we just got approval to build our second multi-unit rental. Videos like this is what inspired me to never quit. Thanks Graham
P.S. I would love to meet you someday, you should do a real estate conference near Alberta Canada.
6:47 I agree. Especially about medical debt. I have about a $10k emergency fund, but I don't think it's enough. I hear so many medical debt horror stories and I know people who can't get ahead because of their past issues in the hospital. I hope to stay healthy because the US healthcare sucks so bad
Best video so far Graham! All we need to know, nothing complicated and reality served as it is!! This video only motivates to do more!
I love the fact that, "you're still working" and making these videos. You don't necessarily have to but, you still do it. It probably inspires a lot of people. You're doing big things. I love it!
Your my role model Graham. Im very happy I found you! Thank you for your videos!! Much love❤️
Beautiful journey, one that folks really need to watch. I’m 50, retired a while at 45. I have 35% of my capital invstments in an IRA, 25% in index funds, and the balance spread across other investment accts, in cumulative of over $ 5M. I receive income from my rental properties too. Zero debt and all is going accordingly.
You appear to be doing quite well for yourself. Does a consultant help you do this? because I want advice on a plan that would produce a ROI with a high yield % In essence, wise investments that will aid in my FIRE.
@@harleycartley3138 Well, I do employ a qualified consultant. He invests a major amount of my wealth in fixed securities including treasury bills, corporate bonds, government securities, debentures, and REITs that produce significant quarterly income for me.
@@serenewhopperman2924 So, is there a method for me to get in touch with this consultant? Before I turn 40, I want to do a few things.
You're seriously destroying the FIRE game. One day, I hope to get such.
James Fletcher Brennan
You posting every Monday Wednesday & Friday for the past few years is APPRECIATED!
You got it!!
Easier said that done, I respect your discipline 💯 🙌 and again, great video as always 🙏
2:17 I love how you drop this in here like it's even an option for most of your audience, who are likely renters themselves.
Fantastic and TRUE!! I used most of these philosophies and paid off my house 10 years earlier thanks to a lot of wise things like renting out my basement. No debt, spending 30-40% below income etc. I am now retired happily since the age of 50...still save much more than my passive income. I did work as an hourly IT consultant getting paid for results and high hourly rates. I also did part time real estate for a few years. Fantastic real advice Graham ... good job!
I've been saying the "Think like a a creator and not a consumer" line for years.
Always love when you have summary descriptions. Fantastic content as always!
YOUR VIDEOS ARE SO UNREALISTIC BRO
Love this! First step clear debt and come back to this video
Thank you Graham for another informative video. Your tips for saving and investing have taught me so much about the economy and financial literacy. I would love for the ability to hear your thoughts on these topics more.
One of the few videos that provides clear, concrete tips on creating wealth.
Most other videos tend to be vague or unreasonable.
Thank you!
This is how I've been able to retire since my late 20s. Still haven't because I like my job, but knowing that I don't need it is so nice.
MD ....You are THE best aquascaping channel on youtube. Period.
No one has EVER done such an amazingly comprehensive video on this topic . You are the best.....i keep saying this😁
You are like a father to me, you teach me everything!! Thanks😉
Happy to help!
Thank Hes my brother ☺️
One thing people fail to do (especially millennials) is INVEST. I made my first million from blue chips and top etfs using a broker so i invested and re-invested my profits. I also acquired large amount of high-quality dividend-paying stocks too that gives me a solid base of passive income. ever grateful to Olivia Maria Lucas handling my portfolio, two years now and she still surprises me, she's actually the only person i know that's richer than me haha
Wow, great work. you surely made a good bit of money
I did read about Olivia Maria Lucas on the web., quite a great resume she has
Did a quick web search, she has a pretty decent bio, I wrote her and I'm waiting on her reply.
lmbo u r really beatin em' over the head with the free stock promo...u always find a way to sneak it in, luv it
Thank you for your clear concise advice brother I will head it to the letter
Retiring early to enjoy life more and spending time with people that matters and doing things that we really love is the best way we can live our life to the fullest, but this is only possible if we will prepare better for it and backed ourselves financially so we can sustain ourselves even if we don't have a full time job that pays us.
I'm 19 and just started with a home remodeling business. I want to buy a house in the next few years and fix it up and rent it out. My parents will let me live with them so after my first one I can use that payment to buy my own. Maybe a duplex or whatever, I save a lot and got a credit card because of you
I totally Resonate with your philosophy!! good job brother!
Great advice this dude never misses
Having a good retirement investment plan and making the right investment early or rather at an early stage plays an important role in becoming a millionaire even before your 50s...make more thorough researches before investing or better still, get a fin. advisor. Made my first million earlier this year through one after losing a fortune to CZcams inspired "trial and error" investing advices. Retiring without any worries. Goodluck
Now you have my attention sir... I have been into all of these for sometime and though I won't say I have lost a fortune, I have squandered quite a lot... Who was/is the knight in shinning armour? I anticipate your response.. How did you do this? I am slowly giving up on all of these...
@@sakhalittle9206 Funny enough, I can honestly relate. I don't know if I am permitted to drop it here, but her name is "Leah Marie Sandock". Was in the news a lot in 2018. You may look her up for more
@@malvinalemire9628 wow I know this little lady. Once attended a seminar she was also in attendance in Vienna,, Great speaker with a funny accent,, She's American though, I doubt she works with foreigners,,,
@@malvinalemire9628 thank you
@@toyko7200 This right here is the second time I am coming across this name in a week. Came to my school for a program and it was lit and yes, she has a really cute southern accent.
I retired in December at age 31. Good advice. My passive income became as much as my salary so why not.
What was your line of work before you retired
How do you plan on filling your time? I’m retiring soon and am struggling with that question the most.
@@wahoocharlie must be a good struggle to have lol
@@wahoocharlie finding new hobbies and travelling!
27 as of yesterday ive been in a downward spiral for a few years just working like a dog and never making it trying to give my son the best life i can ive realized im the problem and am diving into learning how to stop being thank you for all your content i think credit has to be my starting point
good age to start mate
I'm always on the lookout for promising projects, and Xeventy seems to be ticking all the right boxes. Time to explore!
I've been watching your videos for years and have been saving 95% of my income (I live with my mom) while attending community college and have now saved over $20,000. Once I reach $40,000 by the end of the year, I'll buy a rental property.
Wow, proud of you!
Good on you! Save that cash. Rent is so absolutely stupidly expensive. Invest in yourself and wherever possible now when your costs are basically zero.
Buy Tesla and Bitcoin
Buy now, use the house hacking method. You can do it with 20k easy.
You only need 3.5% down if you buy it as a primary residence.
investing requires good experience and knowledge to carry out a good and successful trade, I have lost a lot trying to trade all by myself May I ask which investments are good??>>>>>>
Considering that I am only three years away from retirement, it becomes challenging for me to solely concentrate on the long-term perspective. Despite having invested in reputable companies and having a significant amount of funds allocated, my profits have been stagnant. This situation raises the question: Does the current recession and unstable market offer any calculated risk opportunities for generating profits?
I understand your concerns, my friend. I recommend exploring passive index fund investing and expanding your knowledge in this area. Personally, I experienced both successes and challenges when initially seeking a reliable passive income......,
how do I get in touch with this consultant that assist??>>>>>>
STEPHANIE KOPP MEEKS, that's whom i work with look her
Thanks for these recommendations.....,,,
Ty No one ever gave me this advice love you dude
Thanks for the resources, Graham. Got into investing because of you! 🤝🙌🏻
Good to see you got started. Feel free to check out my newly created CZcams channel which is all about investing for beginners which you might find helpful. There are a few essentials you must get right in order to avoid situations you don't want to steer in. E.g. setting up an emergency fund first before actually investing. Enjoy your financial journey and hope to welcome you on my channel
Sometimes I do wish these kind of information is available to me when I was younger...
But still, better late than never, perhaps..
Absolutely!
Totally!! With the current downturn of the market you basically win back another year as the market is approx. at the same level as last year 😉
I totally appreciate your insight Graham
I’ve never realized how much he waves around his hands. Now that I’ve seen it, I can’t unsee it.
Very important zoom out! We are in a very weird start of the year. Zoom out and the growth is still really good. Long term we will all be fine, especially if you are not planning to retire in the next year or 10. Just buy those shares and get those dividends!!
Nobody can become financially successful over night. They put in background work but we tend to see the finished part. Fear is a dangerous component, hindering us from taking bold steps we need in other to reach our goals.
That’s what I can’t get past. I’m 21 and have a substantial amount of money for a normal dude my age but I have no idea what to do with it.
@@LemonLizard. According to financial advisors, set some aaide for 6-12 month expenses emergency safety cushion. Invest some like 15-30 % in index funds since it will simplify things. The rest use it as you see fit. Balance is the key.
It has way more to do with just not knowing what to do than fear.
@@funnymcfunfuns1455
People following scammers like the above comments?
Gram, thanks again for providing something so informative that its amazing how the majority of us miss the boat completely.
Oh man. I’m new to yr videos but thank you! You’re fantastic!
I turn 25 in two months, and let me tell you that I’m nervous about it. For the past year I have started going to college to study finances, I have read several finance books, I have been studying the real estate market to understand what is to come next. Basically I have been “putting gas in the car” for the last year and I’m two months I plan to floor the Hemi on the V8 and make my next major life change to becoming a millionaire, and have the financial freedom of doing things I want … no, the things I need to do.
I make 30k a year and live frugal in a hotel, I save about 50% a year. It's still going to take me like 70 years to retire like this. Income is clearly an issue.
This is true and when we have to have an honest conversation about wealth inequality - because if you're busting your ass and making 30k doing a job society needs to be done, it is hard to put this advice into practice no matter how frugal you are. Love you sharing this mate
I learned some years ago that you have to acquire skills that add value. Try learning some kind of skill that will increase your earnings. Like maybe a course for x-ray technician, or sonogram technician, even plumbers do much better than $30K per year. You can do it! When I got out of the Army I took a Aviation Technician course. It was only 18 months, 1 1/2 years total. With that one skill I started making $50-60K per year. Later on I became a Mechanical Engineer and started making $70K-85K per year. These days I'm making over $100K. How? I increased my skills which in turn increased my value. Find a course that will increase your value and you will get there! BTW, some aviation courses are subsidized through public schools. Mine was too, so it didn't cost like a regular trade school. So my aviation course only cost me around $1200 for the entire 1 1/2 years. I would go to class from 4pm -9pm on weekdays. I made that money back in a few weeks working in Aviation Maintenance at the airport.
Have a great day!
@@Movieman1965 that sound so similar to some programs that are running in Puerto Rico. Where are you from?
@@Movieman1965 yeah I'm saving to go back to school and will likely go from there. I'm young with no family, housing is the biggest challenge for me. Rent prices keep skyrocketing.
How old are you? If you are saving 15k a year and living off 15k a year it will take you until you’re 70 to retire unless you’re already close to 70.
Essentially financial independence is elementary, all you need to do is keep monthly expenses very low, then make money, save money then invest that money. Once you make more than spend every month, you are now financially free. Hopefully, this simplified the whole process. Thank you, love your video by the way.
How do you save 65% of your income when the government taxes you 30%?
Great advice. I actually find it fun saving. Grew up with single mom that was dope at saving and crazy good at free fun activities
They’re*** for that quote my friend. I gotcha
I am 21 This year . I am glad to Hear it Early
Great video! I'm so glad to see more and more people discussing FIRE and financial independence! 🙌 my husband and I are on track to be financially independent in 12 years, with a paid off house, kids and all. That puts me at 41 years old when we accomplish this! But I don't think I'll ever stop working, I get too much fulfillment from it. But I'll be excited to have the freedom to pursue whatever I want, even if it's a lower paying job that I love.
Congrats Sarah! This sounds awesome!! What triggered you to get started with FIRE?
@@avenue2revenue thank you! My husband and I both hate the idea of debt. We finished college without loans and we were both debt free before we got married. My husband mentioned wanting to retire early shortly after we purchased our first home a year ago; I thought he was joking, but he wasn't, so we looked into it, crunched the numbers, and were surprised to see we could actually do it. We were already living well below our means, which made the decision easy. We just made some investment adjustments when we started to understand the power of compound interest, and now we are well on our way!
@@sarahschlottman7821 That is so cool and you're such an inspiration for so many people out there! Most of the people are trying to keep up with the Joneses which will make them dependent on jobs. As we seem to share the same mindset, I'd love to get your honest opinion on my CZcams channel I just created which is all about becoming financially independent. I would really appreciate your feedback!!
I have to say I'm loving the "What's up graham its guys here." Simple yet effective.
Yeah...what is this about?! Did I miss anything? 😀
I like it when Graham tells me thing I didn't originally want to hear
I like the analogy of being paid for results vs time
"What's up Graham, it's Guys here" 😂😂😂
Graham, I would love for you to host various real estate investors, commercial, residential, warehouse, single family, multi family, etc. and have a debate on which form of investing is best for beginner, intermediate, and expert investors.
Love the content Gram!!
He's right. What you save is what counts. Frugality is the way!
I just walked away from my house and all bills, and I’m living in a van under a bridge down by the river. I’m banking now. Looking forward to favorable results.
Matt Foley, you are truly an inspirational speaker. We need more people like you !
Saving and investing at least a small portion of your income is crucial to ensure you have money set aside for your future. Great advice, Graham!
Graham you motivate me my friend🤟 implementing your ideas is in my list. Thank you🌟
🔝🔝🔝🔝🔝🔝🔝
Thanks for your feedback.
Send a msg to my financial advisor.
Tell him i recommended you.
Save money and make money...
Thanks bro wouldnt have though of this without you gunna retire tomorrow
“The rich stay rich spending like the poor”
*has a collection sports car inside the house right behind him
It’s an investment piece, but yeah he does..
Straight up didn't notice it until you pointed it out lol
Graham, the only flaw in your numbers is taxes. eg : 70k a year.... 21,000 expenses/// 49,000 saved.. These numbers don't take into account taxes/ medical etc. Love your content but thought I would mention this. Have a great day !
That's true. It definitely is based on net income minus all expenses. I always base my calculations after all expenses, which also includes setting aside an emergency 6-12 months' savings for the unforeseeable. Like unemployment or other things.
Graham makes it sound easy, but really, it's tough and takes a ton of discipline and effort
Yes, but that’s why many can’t do it. Well, won’t do it. You must live like no one else so in 10-20-30 years you can live like no one else. Dave Ramsey’s advice rings true years later. It’s all about sacrificing your desires for instant gratification on the alter of financial freedom.
Thanks Graham
I am def. Late to the party on this video, but it is def one of my new favorites. Yes its simple, general, and “common” advice.. but it is right! Building wealth isn’t complicated and this video is a simple reminder not to overcomplicate it and just double down on your disciplines!
My words...it's SIMPLE!! I cant believe I've not started earlier. All those years, everyone made investing feel so insanely complex. It's not...anymore!
Pretty much all of the best personal finance strategies boil down to spending less than you make 💰
absolutely!!
Living below your means indeed!
also make more money and invest the difference.
Because financial freedom, financial sustainability and financial literacy starts with being disciplined with ourselves and our attitude towards money..
What's up Graham it's guy's here!!! Classic opening line!!!
Amazing video. Thank you!!!
This was such a great video and motivated me to get back to it. Early retirement is the goal! Thank you for this video!
Thanks so much! Happy to help!
No such thing as (early retirement).
@@ricdonkulus what makes you say that?
The key here is how much people are willing to delay gratification. The more you eat your cake now, the less cake you get to have later. Graham has made it so he gets to have his cake and eat it too!
If it is your cake why can't you eat it when you want to? j/k 😁
@@grahamfan Haha well we gotta enjoy our cake sometimes too!! 😜
@@MichelleMarki Ha ha 😁
Live like Julius from everybody hates chris and u r set for life!