Why Your Net Worth Explodes At $100K
Vložit
- čas přidán 16. 04. 2024
- 💵 Create a free Budget - Sign up for EveryDollar today! ter.li/ubldyt
About this episode:
Did you know that if you’re putting your money in the right places, your net worth will explode (in a good way) once it reaches $100K? Find out the reason for the fireworks and what you can do to take advantage of it in today’s video.
Next Steps:
📗 Order George Kamel’s new book, Breaking Free From Broke. bit.ly/48d7So4
▶️ What Your Net Worth Should Be by 30: • What Your Net Worth SH...
📈 Compound Interest Calculator - www.ramseysolutions.com/retir...
Offers From Today's Sponsor:
This episode is sponsored by Tello, a mobile service plan designed to save you money. Go to www.tello.com/George for $5 off your first month of Tello’s unlimited data plan.
Listen to more from Ramsey Network
🎙️ The Ramsey Show ⮕ ter.li/nrgexc
💡 The Rachel Cruze Show ⮕ ter.li/gyh9k6
🍸 Smart Money Happy Hour ⮕ ter.li/ruezqk
💸 The Ramsey Show Highlights ⮕ ter.li/yc3i4v
🧠 The Dr. John Delony Show ⮕ ter.li/sii4ha
💼 The Ken Coleman Show - Highlights ⮕ ter.li/nbekmn
📈EntreLeadership ⮕ ter.li/81tcjn
Ramsey Solutions Privacy Policy
www.ramseysolutions.com/compa...
Nice content! Few years back I was assistant to a wealthy pen artist and within the short period I worked with him I observed that he had quite a chunk of investment everywhere, stocks, crypto, dividend investing to name a few, so he had revenues coming in from all angles. And in a year his worth doubled. With this I learned that the rich stay rich by investing.
Effective personal finance management is more important than the amount of money saved, regardless of whether income is earned through job or investment. Individuals can seek counsel from a certified financial advisor to optimize financial outcomes, who can provide specialized advice and methods to decrease expenses and maximize income.
I agree, that's the more reason I prefer my day to day investment decisions being guided by an advisor, seeing that their entire skillset is built around going long and short at the same time both employing risk for its asymmetrical upside and laying off risk as a hedge against the inevitable downward turns, coupled with the exclusive information/analysis they have, it's near impossible to not out-perform, been using my advisor for over 2years+ and I've netted over 2.8million.
I appreciate the implementation of ideas and strategies that result to unmeasurable progress. Being heavily liquid, I'd rather not reinvent the wheel, thus the search for a reputable advisor, mind sharing info of this person guiding you please?
Finding financial advisors like Marisa Breton Dollard 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.
Marisa has the appearance of being a great authority in her profession. I looked her up online and found her website, which I reviewed and went through to learn more about her credentials, academic background, and employment. She has a fiduciary duty to protect my best interests. I sent her an email outlining my objectives and also booked a session with her; thanks for sharing.
It's a common misconception that when a stock you buy skyrockets, the smart thing to do is sell it (or at least sell some of it) to lock in your profits. But the context matters. If the stock has increased sharply because the business is performing exceptionally well, it could still be a bargain. I'm still looking for companies to make additions to my $350K portfolio, to boost performance. Here for ideas...
I think the safest strategy is to diversify investments. Like spreading investments across different asset classes, like bonds, real estate, and international stocks, they can reduce the impact of a market meltdown
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
This is definitely considerable! think you could suggest any professional/advisors i can get on the phone with? i'm in dire need of proper portfolio allocation
Viviana Marisa Coelho is her name. She is regarded as a genius in her area and works for Empower Financial Services. By looking her up online, you can quickly verify her level of experience. She is well knowledgeable about financial markets.
This is definitely considerable! think you could suggest any professional/advisors i can get on the phone with? i'm in dire need of proper portfolio allocation.
I am at the beginning of my "investment journey", planning to put 85K into dividend stocks so that I will be making up to 30% per year in dividend returns. Any advice?
Adding JEPI and JEPQ are smart additions in my opinion. As for staying committed to higher-risk investments, it's all about balancing your risk tolerance with your long-term goals.
I believe a healthy portfolio has 3 things, at the bare minimum: Exposure to ETFs for increased diversification, Exposure to assets that generate cash flow like dividend stocks, Exposure to market-leading tech.
The market is not necessarily a rollercoaster if you know your way around the market, there are various opportunities in the present market to accrue good profit, If you are not too savvy with the market, just buy and hold on strong companies with good earnings, or consult with advisors on ETFs and actively managed funds. that’s what works for my spouse and I. We've made over 80% capital growth minus dividends.
I've been looking to get one, but have been kind of relaxed about it. Could you recommend your advis0r? I'll be happy to use some help.
There are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with ‘’AMBER KAY WRIGHT” for about five years now, and her performance has been consistently impressive. She’s quite known in her field, look her up.
*DONALD NATHAN SCOTT.*
As a soon-to-be retiree, keeping my 401k on track after a bumpy 2023 is a high goal. I've read about investors generating up to $250k ROI in this present sinking market; any suggestions for increasing my ROI before retirement would be greatly appreciated.
You are correct, of course. Over the years, US stock investors have had a strong tailwind; but, since this is still a delicate season, I suggest you seek financial advice.
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.
Hello Tmer, 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.
My CFA ’’ Vivian Carol Gioia, a renowned figure in her line of work. I recommend researching her credentials further. She has many years of experience and is a valuable resource for anyone looking to navigate the financial market..!
I find this informative, curiously explored Vivian on the web, spotted her consulting page, and was able to schedule a call session with her, she shows quite a great deal of expertise from her resume.. very much appreciated
I want a balanced portfolio with growth investments, safe investments, and also focus on dividends to gain up to $20K monthly, my concern is picking the right stocks that can survive a recession. How do i go about this ?
In this current unstable markets, It is advisable to diversify while retaining 70-80% in secure investments. Depending on the worth of your portfolio, you should consider financial advisory.
Agreed, my portfolio is well-matched for every market season yielding 85% from early last year to date. I and my advisr are working on a 7 figure ballpark goal, tho this could take another year. IMO, financial advisors are the most sought-after professionals after doctors.
massive gains! mind sharing details of your adviser pleas? i've started gaining more cash flow with my employment and looking at putting money into stocks and alternative assets that can help fuel my money goal
She goes by Amber Dawn Brummit I suggest you look her up. To be honest, I almost didn't buy the idea of letting someone handle growing my finance, but so glad I did.
Thank you for sharing, I must say, Amber appears to be quite knowledgeable. After coming across her web page, I went through her resume and it was quite impressive. I reached out and scheduled a call
Purchasing a stock may seem straightforward, but selecting the correct stock without a proven strategy can be exceedingly challenging. I've been working on expanding my $210K portfolio for a while, and my primary obstacle is the lack of clear entry and exit strategies. Any advice on this matter would be greatly appreciated.
the strategies are quite rigorous for the regular-Joe. As a matter of fact, they are mostly successfully carried out by pros who have had a great deal of skillset/knowledge to pull such trades off.
Even with the right strategies and appropriate assets, investment returns can differ among investors. Recognizing the vital role of experience in investment success is crucial. Personally, I understood this significance and sought guidance from a market analyst, significantly growing my account to nearly a million. Strategically withdrawing profits just before the market correction, I'm now seizing buying opportunities once again.
thats really massive!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?
@@VanChuong-on2gh .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 résumé.
100% VTI or VOO if you're in your 20s, 30s or 40s and wish to retire in your 60's
Awesome, George! You just told the story of my life. At 26 I had ZERO $ to my name. I flipped the switch at 27. Just passed 2 mil in my 50’s. Compound interest is indeed a wonder!
Where did you invest or where should I begin?
@@Lexusupra nearly all indexed funds through my work 401-k’s and an individual Vanguard account set up online. Individual stocks are too risky for me
@Lexusupra , if your income is less than $161k single, $240k married open a Roth IRA. Max it out. If you are unsure what to invest in. S&P 500 index fund is a safe bet. (Warren Buffet famously challenged any hedge fund manager to beat the S&P 500 in a bet, and won.) Then start learning about mutual funds etc.
After the Roth IRA a traditional tax differed retirement account is the next best option. Again, in that retirement fund you can invest in an S&P 500 index with low fees, (less than 0.04%)
If you max out both, then open a regular brokerage account. Again, not bad to toss money in an S&P500 index until you lean more about investing.
Just starting is 90% of the battle.
@@leonadams1053- how much were you making at the time and did you have monthly bills?
proud of you!
Recently, I've been pondering retirement. I've also invested $800K on S&P 500 so i could secure my financial future. i need an approach to invest in Coin that will align with my risk tolerance and financial goals
While the market is promising, expert guidance is essential for effective portfolio management.
Opting for an inves-tment advisr is currently the optimal approach for navigating the market, particularly for those nearing retirement. I've been consulting with a coach for a while, and my portfolio has surged by 85% since 2022
I'd love to work with the same advisor you invested with. How do i align with the person?
She goes by ‘’Lauren Marie Ehlers'’.... I suggest you look her up. To be honest, I almost didn't buy the idea of letting someone handle growing my finance, but so glad I did.
Thank you for this Pointer. It was easy to find your handler, She seems very proficient and flexible. I booked a call session with her
I just sold a property in Portland and I'm thinking to put the cash in stocks, I know everyone is saying its ripe enough, but Is this a good time to buy stocks? How long until a full recovery? How are other people in the same market raking in over $450k gains within months, I'm really just confused at this point.
The current state of the market may bring opportunities to increase profits quickly, but professional assistance is required in order to put such a plan into action.
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.
Recently, I've been exploring advisors, but the market news I've come across hasn't been uplifting. Who's providing guidance for you?
KENNA MURIEL HESSELING 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 for her complete name on the internet and located her page. I then sent an email and scheduled a meeting to converse with her; now, I'm awaiting her response.
Net worth truly snowballs after $100k! Keep investing regularly and you'll be blown away how much it can change in a few short years. Here's to $1 million and to FIRE!
My advice to everyone is this : if you want to grow big this year especially in your finances. Be willing to make investments. Saving is great but investing puts you on a pedestal where you wouldnt have to worry about savings as you do now. Thanks to my FA, my portolio is doing really great and im proud of the decisions i made last year.
Nice. People often underestimate financial advisors' importance. Over 50 years of data reveal that those who work with advisors typically earn more than those who go it alone. I've been fortunate to work with one for 13 years, resulting in a $1 million portfolio, largely from early investments in AI and other growth stocks..
How? What does one do if they have a 100k$?
I've been considering but haven't been proactive. Can you recommend your advisor? Could really use some assistance.
*Sharon Lynne Hart* has always been on the top of my list..She is regarded as a genius in her area and well knowledgeable about financial markets. I highly recommend you look her up if you want excellent collaboration.
Just reached 21.000 after 1 year of savings and now 3 months of steadily investing in ETF.
Can't wait to reach 100k.
Zero debt , zero credit card ever.
Piano teacher
First hit $100k in early 2020, that covid dip really hurt at the time. 4 years later that dip is barely noticeable on the long term chart and we are well over $300k with increased contributions in recent years.
Keep grinding out there! ABB - Always Be Buying!!
I deal with an investment advisor for this reason. I currently have over $70k invested in a diversified portfolio that has grown exponentially and is suitable for all market seasons under guidance. Our current project for this year is a more concrete ballpark target this year.
hello James, 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.
My CFA ’Rachel Sarah Parrish’ , a renowned figure in her line of work. I recommend researching her credentials further. She has many years of experience and is a valuable resource for anyone looking to navigate the financial market
Thank you for this Pointer. It was easy to find her handler, She seems very proficient and flexible. I booked a call session with her.
This is very true. At 37, I recalled how difficult it had been before I reached the $100k milestone. It didn't take me long to reach my goal of having over $2.8 million in my retirement savings alone at the age of 56 after subsequent shares. I would have more today if I started sooner. If you're not sure where to seek, start by speaking with an experienced strategist. Best of luck
Thanks for sharing this. I am on the same path man
I deal with an investment advisor for this reason. I currently have over $800k invested in a diversified portfolio that has grown exponentially and is suitable for all market seasons under guidance. Our current project for this year is a more concrete ballpark target this year.
@josephbush I could really use the expertise of this advsors, I’ve been down a ton, I’m only holding on so I can recoup.
Hey I know this pretty lady. Used to share an office block with her, small world right? lol Thanks a lot for sharing.
Scam comments 😢
Amazing video, A friend of mine referred me to a financial adviser sometime ago and we got to talking about investment and money. I started investing with $150k and in the first 2 months, my portfolio was reading $274,800. Crazy right!, I decided to reinvest my profit and get more interesting. For over a year we have been working together making consistent profit just bought my second home 2 weeks ago and care for my family.
Hi. I’ve been forced to find additional sources of income as I got retrenched. I barely have time to continue trading and watch my investments since I had my second child. Do you think I should take a break for a while from the market and focus on other things or return whenever I have free time or is it a continuous process? Thanks
@@ikolimariam4871 However, if you do not have access to a professional like JUDITH ANN PEACE, quitting your job to focus on trading may not be the best approach. It is important to consider all options and seek guidance from reliable sources before making any major decisions. Consulting with an AI or using automated trading systems can also be helpful in managing investments while balancing other commitments
@@Mavisb- Oh please I’d love that. Thanks!
@@ikolimariam4871 Judith Ann peace is her name
Lookup with her name on the webpage.
Market highs can sometimes be followed by corrections, but predicting the timing and extent of it is challenging. I've heard some analysts talk about a 'massive' correction. It makes me wonder if it's time to adjust my $2M portfolios or maybe even consider some defensive investments.
Consider diversifying your portfolio with a mix of stocks and stable assets. Seeking professional advice now could provide valuable insights and strategies to navigate market uncertainties and protect your investments.
Accurate asset allocation is crucial, and some individuals use hedging strategies or allocate part of their portfOlio to defensive assets for market downturns. Expert guidance is vital for achieving this. This approach has helped me stay finan-cially secure for over five years, yielding nearly $1 million in returns on invest-ments.
impressive gains! how can I get your advisor please, if you dont mind me asking? I could really use a help as of now
Laila artine kassardjian' 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
Thank you for this Pointer. It was easy to find your handler, She seems very proficient and flexible. I booked a call session with her.
In these uncertain times, it's more important than ever to have a solid understanding of how to manage your finances, invest wisely and navigate economic downturns. But my primary concern is how to grow my reserve of $240k which has been sitting duck since forever with zero to no gains, sure I'm all in on the long term game, but with my savings are lying waste to inflation and my portfolio losing gains everyday, I need a remedy.
If you need advice, consider speaking with a financial advisor. Don't get me wrong, you can do it on your own, but financial advisors have a lot more knowledge and expertise in this area.
you are completely right, Advisors have information and paths that are not disclosed to the public.. I profited £560k in 2022 under the tutelage of my Fiduciary-counselor. Am I selling? Absolutely not.. I am going to sit back and observe how this all plays out.
That's impressive! I could really use the expertise of this manager for my dwindling portfolio. Who’s the professional guiding you?
My CFA ’Melissa Terri Swayne’ , a renowned figure in her line of work. I recommend researching her credentials further. She has many years of experience and is a valuable resource for anyone looking to navigate the financial market.
I checked Melissa up out of curiosity and i must say i am impressed by her Credentials. i emailed her already, waiting on her response.
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?
Buying a stock is easy, but buying the right stock without a time-tested strategy is incredibly hard. hence I will suggest you get yourself a financial-Advisor that can provide you with entry and exit points on best stocks to buy now or put on a watchlist.
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. he's helped grow my reserve notwithstanding inflation, from $275k to $850k.
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?
Walter James Henry is the licensed fiduciary I use.
He's mostly on Telegrams, using the user name
I've already noticed that 25k to almost 45k was easier than the first 25k. I think it's crazy that I've gotten used to numbers like that now. 1 year ago when I started it was a huge amount for me. Just as I think about 200k today, that will probably become normal for me in this year.
As a beginner what do I need to do? How can I invest, on which platform? If you know any please share.
Honestly I really need help learning. Seeing my portfolio low makes me very sad.
Trading without any guide is so risky you need to get a good mentor like Christopher Scott to help you with strategies to navigate the market.
Oh please, how can someone get to speak with a legit expert?
I.N.S.T.A.G.R.A.M
Agreed that many people are considering NVDA as the "Stock of the year." However, I'm curious about which stocks could potentially become the next META in terms of growth over the next decade. I've allocated $200k for investment, aiming to retire comfortably.
I think the next big thing will be A.I. For enduring growth akin to META, it's vital to avoid impulsive decisions driven by short-term fluctuations. Prioritize patience and a long-term perspective most importantly consider financial advisory for informed buying and selling decisions.
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
This is definitely considerable! think you could suggest any professional/advisors i can get on the phone with? I'm in dire need of proper portfolio allocation
Viviana Marisa Coelho is her name. She is regarded as a genius in her area and works for Empower Financial Services. By looking her up online, you can quickly verify her level of experience. She is well knowledgeable about financial market
Thank you for this Pointer. It was easy to find your handler, She seems very proficient and flexible. I booked a call session with her
The first hundred thousand is so hard to get
I lost mine through my investment even since i don't have a full-time job; instead, I'm self-employed with a variety of sources of income. Regardless of how much money I generate each month, I maintain the same budget and adhere to my means-tested lifestyle.
This seems like the worst period.Even the markets are very unpredictable.started investing recently when the market prices were a bit high,today i am more than 60% down
The best course of action if you lack market knowledge is to ask a consultant or invest-ing co-ach for guidance or assistance. Speaking with a consultant helped me stay afloat in the market and grow my port-folio to about 65% since January, even though I know it sounds obvious or generic. I believe that is the most effective way to enter the business at the moment.
Fantastic! Can you share more details?
was guided tho..Julia Hope Marble. walked me through the ropes majestically i'ts my ultimate pleasure.
That first 100k is brutal.
The 1st 10 dollars too 😂
@@frederickvalencia4976 Especially if you have a minimum wage or a bit higher job. Putting over $700.00 a month away is impossible when you can't even afford rent.
The first 100k for most people is just their starter home equity plus maybe $30k in savings. Building the savings muscles is hard at first, but maintaining the muscles is easy.
@@tylersanders2388 We're talking pure investments bro, a house is a liability and people need to focus on investment portfolio amount.
@@tylersanders2388 George is talking about 100k cash, not equity. Albeit, the video title is wrong if you are a homeowner.
These are very valuable info for anybody who wants to get rich. Unfortunately, most people who will watch this video will not really be able to apply the principles. We may not want to admit, but as Warren Buffett once said, investing is like any other profession-- it requires a certain level of expertise. No surprise that some people are losing a lot of money in the bear market, while others are making hundreds of thousands in profit. I just don't know how they do it. I have about $109k now to put in the market.
Understanding personal finances and investing will most likely lead to greater financial independence. By being knowledgeable about money and investing, individuals can make informed decisions about how to save, spend, and invest their money. I know someone who made over $350k in this recession influenced market, but to the best of my knowledge, it was through a financial advisor.
You are right! I’ve diversified my 350K portfolio across various market with the aid of an investment coach, I have been able to generate a little bit above $730k in net profit across high dividend yield stocks, ETF and bonds.
Impressive can you share more info?
Credits to 'Carol Vivian Constable' she has a web presence, so you can simply
She appears to be well-educated and well-read. I just ran a Google search for her name and came across her website; thank you for sharing.
Just hit 100k! What a good feeling.
Proud of you
Thats awesome dude howd u do it
It is!
Congrats!
want a gold star, cupcake?
Net worth truly snowballs after $100k! Keep investing regularly and you'll be blown away how much it can change in a few short years. Here's to $1 million and to FIRE!
My advice to everyone is this : if you want to grow big this year especially in your finances. Be willing to make investments. Saving is great but investing puts you on a pedestal where you wouldnt have to worry about savings as you do now. Thanks to my FA, my portolio is doing really great and im proud of the decisions i made last year.
Nice. People often underestimate financial advisors' importance. Over 50 years of data reveal that those who work with advisors typically earn more than those who go it alone. I've been fortunate to work with one for 13 years, resulting in a $1 million portfolio, largely from early investments in AI and other growth stocks.
I've been considering but haven't been proactive. Can you recommend your advisor? Could really use some assistance.
Kristin Amber Landis is the licensed advisor I use. Just research the name. You’d find necessary details to work with to set up an appointment.
I looked up her name online and found her page. I emailed and made an appointment to talk with her. Thanks for the tip
Success depends on the actions or steps you take to achieve it. Building wealth involves developing good habits like regularly putting money away in intervals for solid investments. Financial management is a crucial topic that most tend to shy away from, and ends up haunting them in the near future.., I pray that anyone who reads this will be successful in life
Starting early is simply the best way of getting ahead to build wealth , investing remains a priority . I learnt from my last year's experience , I am able to build a suitable life because I invested early ahead this time .
I am fortunate I made productive decisions that changed my finances through my financiaI planner. Got my house in Feb, and hoping to retire soon.
Please who is the consultant that assist you and if you don't mind, how do I get in touch with them?
'Rachel Sarah Parrish' is her name. She is regarded as a genius in her area. She’s quite known in her field, look-her up.
She appears to be well-educated and well-read. I ran a Google search on her name and came across her website; thank you for sharing..
Recently bought some recommended stocks and now they are just penny stocks. There seems to be more negative portfolios in the last 3rd half of 2023 with markets tumbling, soaring inflation, and banks going out of business. My concern is how can the rapid interest-rate hike be of favor to a value investor, or is it better avoiding stocks for a while?
Just "buy the dip" man. In the long term it will payoff. High interest rates usually mean lower stock prices, however investors should be cautious of the bull run, its best you connect with a well-qualified adviser to meet your growth goals and avoid blunder
The truth is that this is really not as difficult as many people presume it to be. It requires a certain level of diligence, no doubt, which is something ordinary investors lack, and so a financial advisor often comes in very handy. My friend just pulled in more than $84k last month alone from his investment with his advisor. That is how people are able to make such huge profits in the market
nice! once you hit a big milestone, the next comes easier.. who is your advisor please, if you don't mind me asking?
She's Sophia Elaine. One of the finest portfolio managers in the field.
she's mostly on Telegrams, using the verified user name.
Wife and I are 33 with about 800k in investments, excluding home equity and rainy day funds. I've always strived to stay on top of my finances.
...hoping that being disciplined in my 20s would allow me/us to have more breathing room in our 40s+ but it gets hectic, should we get a partner?
I do hope to help educate younger people on finances after I leave my corporate 9-5.
My wife and i (mid 30s) just did our net worth calculation and were astonished to find out that combined we're net worth millionaires, with ~450k in retirement/investments. Years of driving 20+ year old cars with multiple shades of paint (or as i called it, "custom" paint jobs) and knocking out $170k in student loans literally paid off. To people going through the struggle, take it step by (non trademark) baby step. You'll get through it. Its worth it.
I'm 42 with $997k in my 401k. I started working full time right out of high school. I'm still with the same company. I've been in their 401k plan since I was 18. I contribute 10% and get a 4.75% company match. My f/a who isn’t very traditional taught me that compound interest is you best friend. The sooner you start, the better off you are. I didn’t feel the need to mention the roi on brokerage account used under guidance of Monica but surely get a partner.
Who is this person you work with ? Monica ? Can I get a phone number?
So many bots trying to scam in every financial youtubers chat. It's mind blowing.
I must have reported 50 on this video alone. They have got to find a way to crack down on this AI stuff, it's overwhelming the internet with spam.
I've tracked my net worth for 3 years now. Went from $339k to $423k to $565k. So in a time that we earned $315k, our net worth went up $226k. Hope to hit $1 million by 2027!
In theory, your NW will double every 7 years or so.
That’s awesome 👍🏼
@@smileygeni If you don't add to it, yes. I'm adding $64k a year into investments, plus some additional cash and paying down the mortgage.
I will be forever grateful to you, you changed my whole life and I will continue to preach on your behalf for the whole world to hear you saved me from huge financial debt with just a small investment, thank you Victoria Taylor
Wow. I'm a bit perplexed seeing her been mentioned here also Didn’t know she has been good to so many people too this is wonderful, I'm in my fifth trade with her and it has be super.
She is my family's personal broker and also a personal broker in many families I'm United States, she's a licensed broker and a FINRA AGENT in United states.
Really you people know her? I was even thinking that I'm the only one she has helped walk through the fears and falls of trading.
I'm new at this, please how can I reach her?......
SHE'S MOSTLY ON TELEGRAMS, USING THE USERNAME
He’s right. Once you hit that 100k, hold it in a good S&P 500,index fund. It’s gonna grow. Just be patient. It’s a marathon
No way, i have 200k and still feel poor AF
@@thunderb00mexactly how i feel too. 200k feels like the new 100k with inflation and the fact that the “100k” saying has existed for decades.
This is true, although it’s closer to $250k now to have the same saying still apply when adjusting for inflation.
Exactly
If you have 200k in investments and still feel poor, you are not really poor. You are entitled and your expectations are way too high. First world problems!
You work for 40yrs to have $1m in your retirement, Meanwhile some people are putting just $10k in a meme coin for just few months and now they are multi millionaires. I pray that anyone who reads this will be successful in life
Trading in Bitcoin now is the wisest thing to do now especially beginner....
Most people think, investing in crypto is all about buying coins and leaving it to rise, come on it takes much analysis to be a successful crypto trader.
Trading without professional guide...Huh I laugh you, because you will remain where you are or even make huge losses that will stop you from trading, this has been one of the biggest problem to new traders
Honestly I really need help learning to trade. Seeing my portfolio low makes me very sad.
You're right! I have lost a lot trading all by myself without a guide. It's been an uneasy ride for me. Who is your mentor please. how can i reach her i really need help in this bear market now?
Buffett & Munger are beyond amazing. wealth is attainable.
Thanks for your efforts. My friends are going to invest part of their savings into quality stocks under the guidance of some sincere advisors Mr Sam .D. If we have to become prosperous investment in stock market is a must for each one of us. Please continue doing your best. Regards.
He's TE LEG RAM...
@samdeymon53....that's it = 4 advise.
Mr SAM DEYMON /Courses It’s an opportunity to learn a lot of concepts relating to Stock Market, Mutual Funds, F&O etc. in a systematic, simple and fun-filled manner!
Mr Sam is really good
Best explanation of why the first $100K matters, keep up the great work George!
It doesn't, its just a number, you never heard anyone saying first 50k 2 decades ago. But thats essentially what today's 100k is worth.
It does matter. I kid you not... Once you get 100k you will lay down in bed at night and think, you are gaining real money, right now, doing nothing.
The more you have? The sweeter the gains. If you told me this 10 years ago, would not have believed it either.
I'm favoured, Getting my own Truck has always been my Dream for my business. I just acquired 2 recently, earning $32K weekly has been really helpful. I can now give back to the locals in my community and also support Charity Organizations. I really appreciate your videos
As a beginner what do I need to do? How can I invest, on which platform? If you know any please share.
I'd really like to get into crypto Investing. I have about $145k set aside, but I don't know anything about this market. Would you please provide the best approach to make money as well as a trustworthy resource for advice? Your help would be greatly appreciated.
The very first time we tried, we invested $1000 and after a week, we received $7500. That really helps us a lot to pay up our bills.
Still regret that I sold my bitcoin early last year, even after my colleague insisted we shouldn't. Please Is Bitcoin still a safe buy to outperform the market this year? I still kept my money in the money market and with over $120k maturing soon, I plan investing well in it. Here for ideas
As a beginner investor, it's essential for you to have a mentor to keep you accountable. Myself, I'm guided by Deborah Davis. A widely known crypto consultant
I'm 30 with a net worth of about 400k. About 138k of that is investments, including retirement. We've been doing this long enough that about half of the 138k is interest we've earned.
You are doing it right!
You're crushing it. I'm at about half that at 31 and I feel like I'm doing decent
@@TheSp3cial0ne Nice job guys! I'm 30 and 150k in debt lol. But I am about to switch jobs. I have a poli sci degree, MBA, and accounting degree. I am a school teacher making about 50k and I just got offered full time accountant job for 65k with some promised raises. I'm almost out of credit card debt and will start working on auto loans next.
Nice. Keep at it. You'll be an everyday millionaire in no time.
We hit $300k invested this year (I'm 40) also looking to pay off my wife's nursing school this year. Then we can save like crazy.
Fantastic job. I'm 33, still playing catchup. Only about $200K networth (50% taxable brokerage, 35% retirement, 10% cash, & 5% my car), like 10-12% is actually from its growth. My car's depreciation took away a couple percent. My savings rate has been solid but the growth on the market really hasn't been great.
Successful people don't become that way overnight. What most people see as wealth, a great career, purpose is the result of hard work 🤑🤑
Same, I met Mrs Maria Davis last
year for the first time at a conference in
Manchester, after then my family
changed for good. God bless Mrs Maria
So you guys know her too?...
Wow she made my husband and I have our own house and car.
She is good! 👌
Yes she works with people all over the world, she's the best you can ever come across.
Tradeqq with her and remember to share
your success story with others just like |
did🥰
I’m 33 just got out of debt and just hit 100k in investments. I might be behind compared to my peers but I’m happy and satisfied to be debt free and only focus on investing
That’s not behind at all. You may be slightly lagging people who watch financial videos for fun but you’re WAY ahead of the vast majority of people.
@cody5596 Thank you bro I really appreciate it
lol. I’ve googled how much the average/median amount people have for retirement, by age, and you’re definitely ahead.
The ‘BUT WAIT! THERES MORE’ like a late 90s comercial had me dying 😂
Funny story - I interviewed a guy that owns a winery in Temecula, California. It was lavish. I finally asked him - with all due respect, how did you get the money to build this place? He laughed and said from working in infomercials. I said - you acted in infomercials? He said no - I came up with and trademarked the phrase: "But wait... there's more!"
@@billaroundtheglobePlease, please tell me that he has a line called ‘But wait.. there’s merlot’ 😂
Once you get old and have a lot invested and your net worth goes up (and down) $500,000+ a year is still insane and hard to accept as a regular person who was not rich before.
To make it simpler, use the rule of 72. divide 72/. This tells you how many years it takes to double your money at a set return.
Or to double your debt…if you don’t pay it down…
Can confirm. My wife and i net worth was 67k april 2020. Just hit 550k this week
Where did you invest? I’m just trying to learn where or how do I begin so I can start the journey of compound interest. I am 24 and have saved some money, I just do not know clearly where everyone seems to know to put their money. It just says S&P 500 but I don’t understand what that means
@@Lexusuprafirst you need to open a brokerage account, then look up s&p 500 index funds and exchange traded funds or ETFs. S&p 500 index fund is where I would start and just buy some weekly.
😂 April 2020.
@tonycrabtree3416 yeah I track my NW every month
@Lexusupra I max 401k with fxaix (fidelity 500 index, closest to S&P 500) for both me and my wife. I bought 2 houses, bought bitcoin but sold it at 70k. Park all cash outside 5k in checking in 5% CDs. 350ish is in investment, 200k in home equity
The first 100k seems to be so hard for some because you're basically still setting up a foundation for your portfolio to stand on and then the latter comes easier since now you're familiar with diversity ,where to place your funds. I made my first million from going diverse, mainly blue chip stocks. high value etfs, S&P500 and coins ..with the help of my F.A Dianne Sarah Olson handling my portfolio it's been a year of steady growth.
Smart, I must commend you because etfs will keep making you solid profits through compounding while the other stocks pays monthly although advantageous you must've started big
Nice, you're a good guy for taking your time to properly explain this, i reached out to your FA also through her web and her responses were articulated. I'm more confident working with her now
invest in stable stocks, my rule: if you previously liked the stock, then you should love it at a discounted price.
I need to work very hard and i also think i need to work with this IA you talked. about because i haven't hit the 100k mark at all. I haven't even scratched the surface yet lol
Great job you are doing well!Do you mind sharing who your financial advisor is on here?
What side are you on as Blcktken300 divides the wealthy from the poor?
Apreciate your work, George🙏🏻
Okay, I hit 100k a few years ago and I'm still waiting for my net worth to explode. Hitting 100k doesn't magically make things easier people. It's just as hard making the second 100k as it was the first.
You would think so.... but thanks for the info.... CZcamsrs are only worried about making their next 100K and not their audience anyway IMO!!
The title in this video is pretty misleading cause your net worth doesn't really "explode" after making your first $100k. The time it takes to reach your next $100k increments just becomes shorter compared to the first and then when you're somewhere around $500k-$600k, it becomes easier to get the next $100k due to compound interest (assuming 7-10% annual rate of return) on top of your savings.
Some CZcamsrs just drive me crazy
@@liam1902 Yeah, the compounding interest definitely helps, but it's not nearly as quick as some of these youtubers are making it out to be. It still takes years.
@@300zxturbo yeah, you would need to keep contributing and have everything invested for your money to be able to compound quicker. It would still take many many years to finally reach $1m esp if you're unable to contribute that much.
Intro was amazing 😂😂😂. Something about the bald eagle and explosions mixed with investing and waiting patiently, caught me pretty funny. The gen z in my office would say something like that was fire, no cap, or that really slaps, or bops. Anyway well done. And finished your book that was also well done! Adequate level of snark and info. 😂😊
"But....but....I want to be rich now, not in 8 years"...............99% of the people watching this 😞
Such an informative video! Thanks as always George!
Compound interest is amazing. I had about $370k in my 401k just last Thanksgiving...I hit $460k early this month. I'm currently working on being debt free where I can invest half of my income.
The first 100K took forever, the second happened overnight
Helps that by the time you get to $100k your income is usually higher too. Helping save faster and faster.
When we hit $100k invested we were at $60k household income. That first $100k took us over 10 years.
At $200k invested were hitting $130k income. Took 5 more years.
This year we hit $300k invested and our income increased to $240k. We are going to save hard after hitting debt free this year.
Planning to save $100k a year, push towards that first million.
Lets do this.
You blew my mind. Wow . Thanks great video!!
Another excellent video, George. Hope to see you at 250k subscribers soon!
I realized that the secret to making a million is saving for a better investment. I always tell myself you don't need that new Maserati or that vacation just yet. That mindset helped me make more money investing. For example last year I invested 80k in stocks and made about $246k, but guess what? I put it all back and traded again and now I am rounding up close to a million.
Thanks for continuing updates I'd rather trade the stock market as it's more profitable. I make an average of $34,500 per week even though I barely trade myself.
I'm favoured financially, Thank you Jesus $32,000 weekly profit regardless of how bad it gets on the economy
How
..? Am a newbie in crypto investment, please can you guide me through on how you made profit?
Thanks to Patricia V Vesely.
She's a licensed broker here in the states
Love your sense of humor George!
Your videos are always super fun, hilarious and educational. Keep up the great work!
I just hit 300k this year and it really does take off . Been invested for 17 years .
)My spouse and I are adding a variety of stocks/ETF to my present holdings for the long term, We've set aside $250k to start following inflation-indexed bonds and stocks of companies with solid cash flows, I believe it is a good time to capitalize on the market for long-term gains, but it wouldn't hurt to know means of actualizing short term profit.
Find quality stocks that have long term potential, and ride with those stocks. I have found it takes someone who is very familiar with the market to make such good picks.
This is precisely why I like having a portfolio coach guide my day-to-day market decisions: with their extensive knowledge of going long and short at the same time, using risk for its asymmetrical upside and laying it off as a hedge against the inevitable downward turns, their skillset makes it nearly impossible for them to underperform. I've been utilizing a portfolio coach for more than two years, and I've made over $800,000
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.
Svetlana Sarkisian Chowdhury 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.
Damn where can I get a consistent 10% return on investment?
The compounding interest phenomenon is undoubtedly true, but I’d suggest anyone actually modeling compounding interest to use 7% to account for big swings in the stock market and extend timelines accordingly.
The 10% number is based off decades of historical data on the S&P 500. It’s not going to be every year you get 10%. Some years it might be 20% and some it might be 3%. It’s primarily used for long term investing to predict your returns, like a few decades of holding. When it’s all said and done it’ll be around 10-12% per year on average.
@@TheSnappyoThere are events in the real world that reflect those numbers. The growth of the US Empire and its economic influence on a global scale. It is still a gamble on what those returns will be in the future. I am invested in the stock market but I still have a Plan B if we have significant issues as a nation, like a break up or higher taxes on capital gains.
Love this..we are all in on doing this..2 months to go and debt free..
First hit $100k in early 2020, that covid dip really hurt at the time. 4 years later that dip is barely noticeable on the long term chart and we are well over $300k with increased contributions in recent years.
Keep grinding out there! ABB - Always Be Buying!!
34 here and at 250k in my 401k, crazy how it goes up and down daily. Mine just went down 5k in three days, but im sure it'll bounce back!
Why do you check it daily? 😂😅
@@ericar.6370 just for fun lol
You had me at “Ben Franklin spitting bars” 😂
I'm investing on a monthly base in index-funds, but the funds don't pay divident. It seems to me that the shares can go up in value, but I get a linear growth instead of a exponential growth. Am I right and, if so, What is the best way to get exponential growth?
Nice concept, compounding.
That 2006 LG is still the coolest phone.
But where are you parking the cash to earn that compound interest? Into high yield? 401k? Mutual funds/etf? Regular contributions to where? Does 401k count as investment?
Invest the contributions into an index fund that tracks the S&P 500 or even a target date retirement fund, you’ll get similar returns but it does all the asset allocations (diversification) for you. Closer to retirement, your investments will look a little different than just one index fund, but it’s just an example. The 401k is just an account it all sits in.
When he says “compound interest” he doesn’t mean the normal interest you’d get from a bank at a static 4% or something. It means the index fund/investment price going up over time and reinvesting dividends. The market is generally always going to go up so investments bought a long time ago have had a longer time to increase in value and be worth way more than what you bought them for originally. That’s why it’s important to make consistent contributions over a long period of time for, in this case, retirement.
To answer your specific questions:
The cash is not “parked” anywhere. It’s invested into something like an index fund within the 401k or IRA (individual retirement account), an account you can set up with any normal brokerage for retirement.
A high yield savings should really only be for an emergency fund or preplanning future purchases since the access to cash is easily available and not tied up in a stock that has to be sold.
The 401k is an account provided by your employer where you save for retirement, it is not an investment itself. You have to do the investing inside of it.
I’d suggest watching a video about the differences between mutual funds/index funds/etfs. It’s kinda wordy but the principle is investing the cash into one of these funds because of the low fees.
Make regular contributions to whatever retirement account is for you (401k or IRA) and invest the money into something as mentioned above.
I hope this clears things up. Seemed like there was some confusion surrounding all the terminology.
Great wealth of knowledge in just 10 minutes. Just enough information to make one dangerous, but in a positive life changing way.
Great video! Who or what would you recommend to go to to help deal with investing that money. For example, I have this bag of money and I want to invest but have no clue as to what to buy and etc. thanks for the great and simple video!
I went to the local bank and they have investment advisors. One helped me open a Roth IRA and showed me some good mutual funds to invest in. Your local bank might be a good place to try.
That intro though>>>😅😂🤯🦅🎆🧨🔥
He needed to add one or two “Listen Here, Brother” in his best Hulk Hogan impression to bump it up another level. 😂
I'm 49. Net worth is at 1,950,000. Got divorced 3 years ago and lost 65% of my assets due to equitable distribution as dictated by today's family law. Have been rebuilding ever since.
Shoulda liquidated before the divorce and spent it on wallmart gift cards
@@davidjones4130 Nah, the judge would have penalized me for that. Better not to do those things as you'll pay a big price later on.
As they say, a marriage contract is the biggest financial decision of your life.
I trust no one. I am the one who manipulates, not the other way around.
If I ever decide to marry, let me tell you, there will be no document or contract that will steal from my net worth if someone "feels like it".
You should have learned from the mistakes of others. The worst possible thing to do is to sign a contract with a 55% failure on average gambling 65% of your net worth.
I am extremely curious, why did you do that? Seems something so illogical to do, how do you decide to sign that?
@@Logical.Psychopath I was young and dumb. But I learned my lesson and I have unplugged from the matrix now. Never again!
@@plasmaarmelund I am 20 now. Never will I do something like that. Good thing that you came back on your feet.
I'm more impressed that George has a Journey album in the background
love the work!
Compound interest or compound returns?
Where can I find that compound interest calculator?
Google " investment calculator "
Dave Ramsey website. Tools.
Google it. Every bank and investment house has one.
This is the absolute BEST intro EVER!!!
You're spot on. We're at 300k. It's growing at 10% and we're only putting in 18k/yr. It's shocking! And yes that first 100k is the slowest.
@1:15 the George Kamel/Epic Rap Battles of History crossover we've ALL been waiting for
Everyone making this video ! Nice !
George, do you have a "what should your net worth be at 50?" I'm 47 now, and believe I'm doing well from starting early with Financial Peace University in 2003 ~ 2004, but would like to see a video for your target ideas. I could find your videos for a 30 or 40 year old, but didn't see the series continue. Thanks.
Only issue here is you haven't taken fees/charges, and 10 percent average return is hard to consistently hit every year. But very good advice overall.
Mine goes up 20 bucks here and there.
2023 had a lot of growth.
Blcktken300 anticipation is building to a fever pitch! 😥
1:31 Simple interest is like going into a calculator and puting for example 2400 + 240 and repeatedly pressing the = button
Compound interest like multiplying, so you will be doing 2400 x 1.1 and then you will multiply the results over and over
I trust the process but not sure where to invest my money to earn 10% compounding interest, highest I’ve seen is 4.25. Where should I invest?
The eagle sound effect go crazy
Trying to pay off student loans is wrecking my net worth!
It’s building net worth.
That’s not how net worth works. Assets - liabilities = net worth. You’re reducing your liabilities so your net worth is increasing.
that clip of the truck driving backwards gave me so much anxiety
Oh my gosh George that intro was fantastic. Love it!
ERBoH reference in 2024. Love to see it.
Despite all the financial struggles i and my family faced, everything is finally falling into place! $47,000 weekly profit and riches I'll always praise the Lord.
Same here, with my current portfolio made from my investments with my personal financial advisor I totally agree with you
Wow! Kind of in shock you mentioned expert, elizabeth ann graney.What a coincidence!!!
Angela Danielle Crowe set the standard for others to follow, we love her here in the UK as she has been really helpful and changed lots of life's
Life is easier when the cash keeps popping in,thanks to Angela Danielle Crowe services.glad she's getting the recognition she deserves
I use to work 3 jobs,full time at Walmart,a server at night and Lyft on the weekend,until Angela Danielle Crowe change my story.
does it work the same regardless if the 100k is in one account/brokerage or spread amongst multiple? I have over 100k between roth, 401k, and traditional
💯 %. I tell my friends who can’t imagine saving 100k to start with 100( shocking that’s hard for some) then , increase by adding a 0 once achieved. It softens the goal but mentally more achievable.
I make huge profits from my trades now as I follow your instructions ma'am God bless you Selina Morgan with more knowledge you are the greatest trading guru 💯
Wow. I'm a bit perplexed seeing Selina Morgan name been mentioned here also. didn't know she has been good to so many people.
I'm favored financially, Thank you Selina Morgan. $19,500 weekly profit regardless of how bad it gets on ..
I want to reach her please
@Selina561 that is her name on
TEIEGRM💯
Putting well-earned money into the stock market can be over emphasized for first-time investors, unlike a bank where interest is sure thing! Well, basically times are uncertain, the market is out of control, and banks are gradually failing. I am working on a ballpark estimate of $5M for retirement, and I have a good 6-figure loaded up for this, could there be any opportunity for a boomer like me? I'm nearly 60.
If you're new to investing or don't have much time, it's best to get advice from an expert. Investing without proper guidance can lead to mistakes and losses. I've learned this from my own experience.
Accurate asset allocation is crucial. Some use hedging or defensive assets in their portfolio for market downturns. Seeking financial advice is vital. This approach has kept me financially secure for over five years, with a return on investment of nearly $1 million.
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?
Whitney Kay Stacy a highly respected figure in her field. I suggest delving deeper into her credentials, as she possesses extensive experience and serves as a valuable resource for individuals seeking guidance in navigating the financial market.
Thank you so much for your helpful tip! I was able to verify the person and book a call session with her. She seems very proficient and I'm really grateful for your guidance
$100k net worth is very different from $100k cash in an investment account. This is especially apparent for those in Baby step 3b, saving for a down payment.
Fully funded emergency funds and down payment savings can hit that $100k number but that doesn’t mean they can take advantage of compound interest.
(Big fan of the show. Keep it up George).
Considering how that graph assumes you keep saving, then it makes no difference at what level you are. Either you start enjoying tour extra income, slowing down the rate of accumulation, or not.
I am an active duty service member and I have been investing for a few years. I have reached a point where I could benefit from financial advice to improve my $160k portfolio which seems to be stagnant and maximize return on my investment.
You didn't provide detailed information about your portfolio makeup. However, I recommend seeking guidance from a financial advisor for a well-informed portfolio restructuring.
De-risk your portfolios, shore up your core holdings, and take some profits while balancing your portfolio allocations. I’d also suggest you go with a managed portfolio, but even those don’t perform so well, so it’s best you reach out to a fiduciary financial advisor to guide you, that’s what works for my wife and I. It's been 6 years now and we've grown our portfolio to $1m.
this is definitely considerable! think you could suggest any professional/advisors i can get on the phone with? i'm in dire need of proper portfolio allocation
Monica Shawn Marti 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 looked up her name online and found her page. I emailed and made an appointment to talk with her. Thanks for the tip
Speaking of sponsors, thank you for letting us use the discount code for that program. Delete me. I signed up for that and I had my information on so many sites that are getting deleted now. Thanks to that company!!! Thanks for the recommendation 👏