Forget the Numbers, This is What Investing is About
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- čas přidán 25. 07. 2024
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When it comes to investing, it’s easy to get caught up in the numbers. Am I beating the market? Am I saving enough? Am I spending too much on coffee? But the Wall Street Journal published an article talking about how delaying gratification can be just as bad. In this video we walk through the article, I share 3 stories from my life that have shaped my perspective, and we end with what is actually important about investing.
00:00 WSJ’s The Downside of Delaying Gratification
05:47 Story #1
08:20 Story #2
12:15 Story #3
14:13 What Is Actually Important?
*I am not a licensed professional or a financial advisor. This content should not be taken as financial advice. It is meant for educational and entertainment purposes only. All opinions and perspectives are based on my own personal financial situation, experiences, and goals. Please ensure that you do your own due diligence before making financial decisions and/or meet with a professional. Links above include affiliate links, which means I may receive a commission at no additional cost to you.
You’re a good, humble dude. Such a sincere demeanor in your videos. Thanks for the reminder to live a little while I’m stacking the wins. Be blessed, Matt.
Thank you, much appreciated!
I'm loyal follower because of his demeanor especially.
Why you cover your family?!If you have a CZcams channel we all want to learn more about you and your family.
Hey do you remember 20 years ago when we made 20% gains in the S&P 500 that one week, said nobody ever. Time and memories with family is priceless as I still remember family vacations from as far back as 49 years ago.
Finding balance in life is so hard but so important.
I guess important things are hard.
"My daughter's never going to be 4 years old again."
^This
I was in this mindset for a good amount of time and you need to appreciate all the time you have in your life and enjoy every seconds of it because you never know when it will end.
Also congrats on buying NVDA stock
i have been start investing in my early 20s and been at it for about 15 years, and now im 35. my dividend pays more than my paycheck, i retired jan. of this year. im not the type of person like to work 9-5 jobs for 30-40 years, nope. that's not me. being able to wake up whenever i want, do whatever i want without worry about finical stress its truly amazing.
That’s awesome, congrats!
Dang, that's great. May I know roughlg how much have you invested to be able to live off of dividends? Just wanna get a gauge for my own plans.
Happy for you guy! Hope you’re living your best life after those years of hard work ✊🏽✊🏽
@@akmal94ibrahim i have about 500k split into jepq, spyi, qqqi, and couple more, yields about 10-12% dividend. of course every month i use about 10-20% dividend invest into schd voo dgro for long term (10+ years)
Wonderful episode. We are living in some kind of strange socioeconomic dystopian meatgrinder... at least it feels like it at times. It's nice to have a little perspective that we practice more of that "get it and forget it" mentality. Life goes by fast enough as it is, we don't need to relegate all our hopes and dreams to some future. Staying present is a skill not taught. Neither is a disciplined savings ethic. There is a balance that very few of us are educated about, nor put into practice. All the economic labels are negative: a frugal tightwad, a spendthrift consumer, or barely-head-above-water paycheck-to-paycheck... there is a fourth category yet to be memified. Even-keeled? Something...
Thank you very much, and you’re right it goes by too fast
So sorry to hear about your dad. 🥺 Happy to hear your mom and family are enjoying some splurges! ❤️
Thanks, much appreciated
I totally agree with you.
Great content here, Matt! I think we undervalue the potency of desire and how that inspires ambition. Immediate gratification only perpetuates our inherent anxiety about wanting something different from what we have. Or, as Rabelais put it, satisfaction is the death of desire.
Thanks for reminding me this. Easy to forget. All the best to you and your family
Thank you!
Thank you I really enjoyed. If you’re sharing the vehicle list you researched I would love the link. Thank you
It was just using the Edmunds car comparison page thing
Great video about mindset and the important things in life
Thanks!
Thank-you for sharing.
All amazing & relatable stories; great advice!
Thanks!
Great vid to start my day!
Great video Matt... VERY well said.... I learned in my 40's that life truly is too short as I lost my brother in his late 40's to heart aneurysm, my 47 year old wife on Valentine's Day to Breast Cancer and my father at age 80 on Fathers Day... Tough times truly bring life back into starck reality. I live life like it is truly fleeting and I a lot of travel a lot when I can and do fun things but at the same time I do my investing program. SO in the end life is truly about a balanced life - no YOLO but also not wait until we're retired and have saved and saved but gave up every opportunity for fun or pleasure... Be well Matt. Love your channel. Enjoy the family and making memories... the most important thing you can do.... and the best investment...!!
Thank you for your kind words, and I’m sorry to hear about your losses. It’s amazing how those things mold us and our perspective. Take care
Great video. Well done and thanks
No worries!
Deciding how you want to balance “I will never be 32 again” with “my daughter will never be 4 again” and “my family tree will never be the same again” is a difficult task with the optimal ratios being a little different for everyone.
Most don’t even realize the trade offs exist until it’s too late. And those who figure it out often still get the ratios wrong and experience regret along the way.
This channel is great... just found you yesterday... great content man
Thank you, much appreciated!
Your videos are very practical. I’m a subscriber now.
Thanks!
Great video Matt. Experiences are one means of gratification and your story of you Mom's purchase is another type of gratification. Goals that we worked toward were instilling a sense of responsibility in our kids, putting them through college without loans, paying off a mortgage prior to retirement, buying our retirement home with cash, and hosting a nice (not over the top) wedding event for our daughter. They didn't seem gratifying at the time but upon reflection these accomplishments are a source of significant gratification as we like to think all this had positive effects on ours and our childrens' lives. There's nothing more gratifying than setting and achieving a meaningful goal.
Great episode and you teach some great life lessons. Appreciate you sharing personal stories too.
Thanks!
Hello Matt, what are your thoughts on ultra beauty stock?
Excellent message and perspective to share!
Thank you!
Wonderful video, thank you !
Thanks!
This video made me subscribe ❤
Love the message of this video, and it is exactly how I view money.
Thanks!
Excellent video with a great perspective that we should all keep in mind on this journey.
Thanks!
Wow! Great video! One of the best on your channel. I think that the main point is really great, money is a tool ❤⭐👍
Thank you!
I so needed to hear your message today. I have been without for so long, set up monetary goals and now have reached my main one...now what ? How much is enough and time to start living!
That’s awesome, glad it’s helpful! Congrats!
This is high quality video, wow! Well done, sir.
Thank you!
This is a great video! I recommend you to read the book "die with zero" from Bill Perkins. This a different perspective on how to use your money to live.
Well said!
Thank you!
Beautiful. Thank you.
No worries!
Beautiful content, one of your best videos, thank you for sharing your thoughts and stories. I couldn't agree more, I've always kept a balance between living a good life and saving. I don't have a millionaire portfolio but I have enough and I collected a billion experiences which enriched my life. Money is a necessary tool, but it can't buy time.
Thank you, much appreciated!
Matt, your videos are great! Delayed gratification?? Ohhhh yeaaa I’m livin’ it with ABBV, CVS, SBUX, what a trio of…..
Thanks lol - hey SBUX has had a nice bounce so far after I sold so we'll see if it continues 🙂
@@mattderronlol. I saw that over 80! I ain’t complaining. Not quite keeping up with your NVDA shares. That was a great buy on your part. I remember all the.. “Matt, you’re buying at the top! Are you nuts?” Keep up the good work!
God bless you, man, god bless your dad. This video really made me like you as a human being.
Thanks, I appreciate it!
On a side note, can’t wait to hear your thoughts on NVDAs earnings. 10:1 split 😅
Yes! Likely Friday, I'll be talking about LULU and NVDA
This is a helpful reminder, Matt. In a way, this aligns with Bill Perkins’ “Die with Zero” philosophy.
I'm not sure about "die with zero" I do think there's value in leaving your kids in a better spot than you started - but ultimately that's a personal choice for everyone
This was a MUCH needed reminder for MANY of us. Appreciate you!
Thanks!
great video Matt, truly hitting the nail, your best stock pick thus far
Thank you!
Its a balance for sure. You can be overly frugal and miss out on things you like. But the trap is if you start buying stuff you like it can be easy to find yourself on the hedonist treadmill easy enough. So finding a place to position yourself well is hard and takes dedication at times. For me, I have shoes that I've worn for like 5 years that have huge wear and tear in them, but they are work shoes. I have plenty of great and nice shoes for going out or looking good, its just that my work shoes don't have to look good. But for good food I do spend some decent money to try to stay healthier. I don't mind things that make me healthier or happier but everything else that doesn't add much value to me is noise.
This is a good way to think about it, because what we all value is going to be different for each of us. I think it's important to spend on the things that matter to us and it's ok if it doesn't make sense to others
@@mattderron just want to say appreciate the videos you make and the interesting discussions you bring to the table. So many folks just talk about the portfolio but you talk about the why and also reasons to do it, as well as add a bit of personal flavor to it. I don't have a lot of financial CZcamsrs I watch but you are unique and add good value. Appreciate your time as always Matt
Thank you!
I actually have had to stop and reflect at times, because I've beaten myself up (unfairly really) over how much I do or don't have invested. Just investing period is great! So many people don't even get through the first step
100% true. If you're consistently investing you're ahead of a lot of people
Perfect video, Matt
Thank you!
Compounding $5 lattes over 30 years is the road to freedom
Starbucks is fucking 8,5 bucks 😂
Wow. Thank you for sharing such personal stories. I needed that. You really made me reflect on my own situation. I spent enough money to buy a nice car on a family trip to Singapore in 2011. I was thinking if I had invested in NVidia or Amazon back then, I would be set for life. However, in 2017, I got liver cancer and had a liver transplant. It's been a hard recovery, but I remember thinking, Thank God I enjoyed that trip with my family when I was healthy. We made so many memories. Thank you for the reminder to master our tools and not let the tools master us. Thank you for educating us with your insights. You're helping us do for our families what your father did for yours. Gracias Hermano.
Thank you for your kind words, and sharing your story. Much appreciated!
Most important words here : “My daughter will never be 4 again”
❤
Matt, where is the collection plate? You are preaching the same sentiments of so many people! People are sick and tired of living in fear and limbo post-covid/high inflation era! Matt, people are becoming resilient with whatever finances they may have in their possession. Once again Matt, great video and message!
Thanks!
Just like everything else in life, it is all about balance. Which is the hardest thing in the world.
Truth is most people remember trips and vacations as totally worth it. I do, most of the other stuff that I buy I usually don’t that includes cars, clothes and whatever… So our vacation trips all have been totally worthwhile… We usually take one big vacation per year, the rest of the year we are pretty frugal..
For sure. We try to do something similar, usually one trip a year when possible
For me, the journey towards the amount of money I want to have is one of growth, because I'm aware that, with the set of skills I have today, I won't be able to make that much money.
When I think about my goal, I think about the person I will have to become, the skills I will have to develop and the knowledge I will have to gather in order to get there. That vision is what drives me: one of a better father, better husband, better professional, better son and better brother. Overall, a version of myself that I believe I have the potential to become.
It is true indeed that money gives us more options, and that's the reason I made it my goal, because I want to be able to help myself and those who are around me, specially in a dire situation, but ultimately is all about the changes I'll have to undergo in order to have the ability to provide that help, and hopefully, provide guidance and offer some wisdom picked along the way.
It's an awesome vision to have
Well said, Matt! Sometimes it’s tough to balance the pursuit of our best lives now with the discipline and vision to build the best lives for ourselves, our adult kids and grandkids in the future.
Personally, we set our savings/investing goal where we want it, and once we hit it, we spend abundantly and guilt free on more travel, great food, fun toys, experiences, etc the family enjoys.
Getting your income up while being frugal and reasonable with the big 3 expenses (house, cars, food) is what really opens up the margin to have that balance without feeling like you’re sacrificing too much in the pursuit of either goal.
For sure, well said!
An example for me, which is another unpopular one among investors is a car purchase.
I purchased myself and my wife brand new Lexus vehicles around two years ago. I paid for mine cash and put down roughly 50% for hers, which was financed to build up her credit.
The look on her face and happiness it brought me was unforgettable. She previously had an old Hyundai from the early 2000s and did not expect it.
I know that I could’ve invested the money instead, but I’m glad I chose not to. Makes me happy knowing she’s safe driving to work as well!
Exactly, people will say "you didn't need to buy that car" of course not. But doing something nice and appreciated for our loved ones is arguably the whole reason to do any of this
@@mattderron Agreed! I appreciate you sharing what you did about your father. My dad passed away after finally finding success in his own business, which was hard to watch and I’m sure difficult for him. I think we all can live in a more present way when we set aside our balance sheets with loved ones.
Yup money ain’t the goal, it’s a tool for me too. Unfortunately, but I’ll get there one day, already probably doing better than most of my peers and even older folks
I’m sure you’ll get there
My wife and I went to the Monaco Grand Prix before the pandemic and the prices for everything were shocking. I put it all on a credit card and paid it off when I returned. My friends thought I was nuts for spending this much. It was a trip of a lifetime for me (my wife was a good sport) and worth every penny.
That's cool, sounds amazing congrats!
I’ve been saving and investing for so long that it’s hard to get out of that mindset,I’m gen X
My truck is 20 years old and needs a few repairs so I’ve decided to get a new one,I don’t have it yet but I’m already thinking about the trips I’ll be able to take with a more reliable vehicle
That's awesome!
Travel. Money can’t buy happiness except when you use it to buy experiences. This has been proven by research. Also, do you even remember exactly how much you spent on that Disney trip? I’d wager you don’t but your memory of it compounds over the years. Memories compound just like investments. Great channel Matt!
Thank you!
Travel is overrated to me.
disney: exactly, you are right on. Everyone needs to think like you.
As a side note: it's time to invest in disney.
I looked at them last year but didn't want to buy the turnaround, I know they've performed really well since but haven't looked at them again yet
We take our kids to Disney World every two years or so because the magical moments with them is so worth it. Yes, we live as frugally as possible, and put away money every month, but money can disappear in the blink of an eye. Besides, money isn't the purpose of life :)
I love taking my kids to disney. We have been going every year now.
That’s awesome, we had a blast and probably should think about going back
I can tell you that my $10K Disney trip in 2011 was also worth it, but spending $10K on Tesla FSD 5 years ago was definitely NOT worth it. In fact I wouldn't pay $1 for it today but I would go back to Disney, if I could get my kids to be little again.
For sure they grow up way too fast
Tesla FSD is awesome! Not sure what you’re doing wrong, but it’s a game changer in traffic and on long commutes.
And if we live to see robo-taxis come to life… FSD will make more than $10K for you in fares!
I pay monthly but I do worry the cost is going to shoot up one day in the future when FSD is more mature. I wish there were a lifetime subscription option that stayed with the person and not the car.
I know everyone is entitled to their opinion, but in my view, I would never advise or encourage anyone to spend their retirement money in an AUDI SUV. Your mother was probably right about being frugal and trying to spend as little as possible of her retirement money. Hopefully you helped her pay for the car, because it was your idea. Hopefully you will help her with the visits to the shop, because she will need it, unless it's a brand new vehicle and she will keep it for 3 to 5 years.
You're entitled to your view, but she can easily afford it and I would never do anything to put her comfortability in retirement in jeopardy. So let's start with that.
Also, it wasn't "my idea" it was something we talked about together and her concern was the perception of spending too much. And yes, it was brand new and the last car she bought she kept and drove for 13 years. And yes, she's covered for anything that goes wrong with it until 2030. Not that any of this information was important to the message though.
So It may not be worth it for you, and that's ok. But just because you would never do something doesn't mean it's wrong for others. Also, assuming I'm encouraging her to do something dangerous with her finances is simply you projecting your own worries onto our situation, and not based in reality. Take care ✌🏼
The 103 year old mother-in-law is beyond frugal. She now worries about her care home expenses and doesn't seem to grasp that she can pay for it without dipping into her capital. I mean wasn't the point of being frugal that you would not worry about your care in your later years? She could stay in a nice assisted living place but would rather stay in the more economical care house that does not make her happy. 🤦♀️🤷🏼♀️😖
I think that was the point of that article, it's a tough cycle / mindset to break once you've done it for years / decades
😢
Damn now I have a parasocial relationship with you and the family
😂
I’m sorry about your papa 💔
Money solves money problems.
Unfortunately, most problems are money problems.