Just buried my Aunt. She had nothing. But...preplanned her funeral. Had just enough life insurance, and the funeral home was the beneficiary. I paid less than 2k towards everything else. Made things so much easier during a stressful time. We had discussed it off and on a few years before she went into nursing home, and I thanked her for it. Really opened my eyes, when the time came. I am now planning/arranging for myself, I'm a 57 single female, no children, and don't want anyone stressed when my time comes.
that Richard Easterlin study about $70k and happiness was revisited by Richard Easterlin in 2015, i think. in his first study he didn't have enough high income earners to ask his survey. in his latest survey he had more high income ppl and he found that happiness continues to increase as income increases
Retired 21 year Navy Vet here… Thank you for your service and content…Watching your videos to assist me with transitioning. I realize majority of your audience maybe Asian however the advise you gave on taking care of elderly parents and grandparents was good advice. With that said regardless of the ethnicity have a plan on how to care for the elderly in their older age and once they are no longer with us.
I’m not a millionaire .. yet 😅 and apply almost all your advices, we started late , now in our 50’s , but good income jobs or I have to say we keep our expenses very low.. we rent a semi private portion of our home so the guy pays our house tax, we refinanced years ago so our rate is ridiculous . We buy only used Prius cars , although I have a 2011 Ford Edge that I got 5 years ago and I felt tempted many times to get a new one but we already made those mistakes long ago. Our daughter goes to state college, will graduate this year with no debt. She has been in internships during summer and this coming summer too , where almost of her expenses are paid, so she’ll come back with a good chunk of money hopefully, she is 22.. I told her to fund her IRA ( she puts money monthly) but I guess the index funds are a better choice, do you think? I still have a daughter in a very good private school where we applied for financial aid and it was granted for us. We have no debts only the house, save lots of cash and like to travel but we are moderate 😅
Thanks! I’ve been nerding out on all your videos and learning so much. I’m wondering if you have any videos on Reits and/or would be willing to do a video in this topic, would love to hear your thoughts.
I wanna find out for myself if too much money will make me unhappy. I’d say a lack of money causes more stress and unhappiness to more people than too much money. However, I agree that getting to a specific level financially is where most people want to be.
Renting vs buying a home is again, a market timing endeavor. I cant recommend anyone to but a home right now, the FED is literally making it more expensive intentionally. However, buying a home (if you like the home, can afford it and plan to live there for the life of the mortgage) is ALWAYS a better option. Imagine renting a car for 5 years instead of financing it. It seems silly to compare right? Because it is. Buying a home is equity and preserves an investment where renting is giving someone else your money for temporary shelter and at the end of the agreed upon contract, your rates will INCREASE to live in the same place you have already been living in. Its not even a close decision which one is smarter.
He’s awesome. Really take his advice seriously. He’s done multiple sectors of different careers and has multiple perspectives which are such true insight
I gotta say Mr. Kim, I dont post often only on your videos because you post some sick ass content. Your videos should be mandatory in public school curriculums.
Thank you for sharing your personal stories and please accept my condolences for the loss of your wife's grandmother. Experiencing similar - I can only echo your solid advice.
I found your channel yesterday. The video about what you learned being in your 40s. I'd love to chat with you once you have your appointments open. Hopefully chat soon!
10:27 you can freeze all three of your credit reports easily for free. Unfreeze them temporarily whenever you wanna take out a loan. Just create accounts with the 3 credit companies
…I’m making $40k a year with 20 years of professional experience, a bachelor’s degree (Summa Cum Laude) and 3 classes away from finishing my master’s. I have a mortgage, wife, and daughter. More money would change my life so much it’s not even funny. However: despite what people say, I can’t find a better job even with all I have. So money is VERY important to me right now.
What is your field? Have you tried networking? Does your company know that you're earning your Master's and are they prepared to come to the negotiating table after you graduate?
Becoming a landlord of a duplex/triplex is a terrible idea for someone only making 40k. For even owning your own house, you need healthy cash flow beyond the mortgage, let alone multiple units with multiple points of failure. Those tiktok landlords don't tell people everything
@@vulpixelful Howdy. My degree is in psychology (forensic focus) and my master’s will also be in psychology (industrial/organizational focus). I currently work for a fire protection company in their remote call center as a customer service agent basically (only job they had that was remote, which I needed when I had to move out of state 2 years ago for my wife’s then-job). Over 100 job applications in almost 4 years: only one interview (outside of my current job). My current job doesn’t care that I even have a bachelor’s degree; this job could realistically be done by ChatGPT. 😅. As for networking, while I have LinkedIn and several other job boards/social media platforms I’m a part of, as well as being a part of the NSLS, networking doesn’t come easily to me unfortunately. I do my best but it hasn’t really yielded any results to date.
Waiting to buy an equity when its is under its intrinsic value is not timing the market. 🤦♂️ Timing the market is waiting with a lump sum of cash, for a crash or correction to invest. Some people will invest with dollar cost averaging, by putting the same amount of money in every week or month no matter what the cost is. Which is good, but waiting for opportunities to enter at lower evaluations is not timing the market.
I've always been curious to know what it's like to live on the ridiculously rich side of things. I mean, who wouldn't want to experience a life of luxury, with all its glamour and opulence? And of course, the grass always seems greener on the other side, so I would just like to see what the grass is like on that side for once. But at the end of the day, I'm grateful for what I have,
Just buried my Aunt. She had nothing. But...preplanned her funeral. Had just enough life insurance, and the funeral home was the beneficiary. I paid less than 2k towards everything else. Made things so much easier during a stressful time. We had discussed it off and on a few years before she went into nursing home, and I thanked her for it. Really opened my eyes, when the time came. I am now planning/arranging for myself, I'm a 57 single female, no children, and don't want anyone stressed when my time comes.
that Richard Easterlin study about $70k and happiness was revisited by Richard Easterlin in 2015, i think. in his first study he didn't have enough high income earners to ask his survey. in his latest survey he had more high income ppl and he found that happiness continues to increase as income increases
I love hearing about details in studies and whether or not outcomes are reproducible very cool of you to do abs share the follow up!
Yes, actually happiness increases with the income. How sad but true.
Retired 21 year Navy Vet here… Thank you for your service and content…Watching your videos to assist me with transitioning. I realize majority of your audience maybe Asian however the advise you gave on taking care of elderly parents and grandparents was good advice. With that said regardless of the ethnicity have a plan on how to care for the elderly in their older age and once they are no longer with us.
It’s simple Tae! I wish everyone would watch this video… there would be a lot more independently wealthy people
"Don't make money more than it is" - needed to hear this. Thank you for your content.
Tae, yours is my favorite financial vlog on CZcams! Sound advice, simple and no bs!!
I already love that you got straight to the point with this video. Earned a subscription
I’m not a millionaire .. yet 😅 and apply almost all your advices, we started late , now in our 50’s , but good income jobs or I have to say we keep our expenses very low.. we rent a semi private portion of our home so the guy pays our house tax, we refinanced years ago so our rate is ridiculous . We buy only used Prius cars , although I have a 2011 Ford Edge that I got 5 years ago and I felt tempted many times to get a new one but we already made those mistakes long ago. Our daughter goes to state college, will graduate this year with no debt. She has been in internships during summer and this coming summer too , where almost of her expenses are paid, so she’ll come back with a good chunk of money hopefully, she is 22.. I told her to fund her IRA ( she puts money monthly) but I guess the index funds are a better choice, do you think? I still have a daughter in a very good private school where we applied for financial aid and it was granted for us. We have no debts only the house, save lots of cash and like to travel but we are moderate 😅
Thanks so much for this. Would love to see more details on aging parents and how to financially prepare.
This is such solid advice, once again. Thank you.
Always have my popcorn 🍿 ready when that Tae Kim notification alerts me. 😁🐢💰
Thanks! I’ve been nerding out on all your videos and learning so much. I’m wondering if you have any videos on Reits and/or would be willing to do a video in this topic, would love to hear your thoughts.
I wanna find out for myself if too much money will make me unhappy. I’d say a lack of money causes more stress and unhappiness to more people than too much money. However, I agree that getting to a specific level financially is where most people want to be.
Renting vs buying a home is again, a market timing endeavor. I cant recommend anyone to but a home right now, the FED is literally making it more expensive intentionally. However, buying a home (if you like the home, can afford it and plan to live there for the life of the mortgage) is ALWAYS a better option. Imagine renting a car for 5 years instead of financing it. It seems silly to compare right? Because it is. Buying a home is equity and preserves an investment where renting is giving someone else your money for temporary shelter and at the end of the agreed upon contract, your rates will INCREASE to live in the same place you have already been living in. Its not even a close decision which one is smarter.
Thank you as always, Tae!! 😊
He’s awesome. Really take his advice seriously. He’s done multiple sectors of different careers and has multiple perspectives which are such true insight
I gotta say Mr. Kim, I dont post often only on your videos because you post some sick ass content. Your videos should be mandatory in public school curriculums.
Thank you for sharing your personal stories and please accept my condolences for the loss of your wife's grandmother. Experiencing similar - I can only echo your solid advice.
Great job Tae. I love listening to you!
You da man. Thanks for sharing that last one, appreciate your personal touch even if sad 😢
I found your channel yesterday. The video about what you learned being in your 40s. I'd love to chat with you once you have your appointments open. Hopefully chat soon!
10:27 you can freeze all three of your credit reports easily for free. Unfreeze them temporarily whenever you wanna take out a loan. Just create accounts with the 3 credit companies
Top of the morning coach TK!!
The incite you offer is awesome...thank you !!!
…I’m making $40k a year with 20 years of professional experience, a bachelor’s degree (Summa Cum Laude) and 3 classes away from finishing my master’s. I have a mortgage, wife, and daughter. More money would change my life so much it’s not even funny. However: despite what people say, I can’t find a better job even with all I have. So money is VERY important to me right now.
What is your field? Have you tried networking? Does your company know that you're earning your Master's and are they prepared to come to the negotiating table after you graduate?
Another consideration is to buy a 2/3/4 unit rental to help pay mortgage.
Becoming a landlord of a duplex/triplex is a terrible idea for someone only making 40k. For even owning your own house, you need healthy cash flow beyond the mortgage, let alone multiple units with multiple points of failure. Those tiktok landlords don't tell people everything
@@vulpixelful Howdy. My degree is in psychology (forensic focus) and my master’s will also be in psychology (industrial/organizational focus). I currently work for a fire protection company in their remote call center as a customer service agent basically (only job they had that was remote, which I needed when I had to move out of state 2 years ago for my wife’s then-job). Over 100 job applications in almost 4 years: only one interview (outside of my current job). My current job doesn’t care that I even have a bachelor’s degree; this job could realistically be done by ChatGPT. 😅. As for networking, while I have LinkedIn and several other job boards/social media platforms I’m a part of, as well as being a part of the NSLS, networking doesn’t come easily to me unfortunately. I do my best but it hasn’t really yielded any results to date.
Another well done video. Thanks so much, this encourages me to stay the course, while remaining balanced with enjoying life.
Thanks so much Tae :)
Great channel. Amazing advice and practical.
wow. this is a lot of wisdom for me. thank you for this.
Thank you for your service 🙏🏾
Thanks for your service my fellow Vet!
Almost 100,000 subscribers!!
Gracias Tae. Puedes hablarnos de Fondos Mutuos, en especial la relacion entre money market y bond funds.
SOLID advice!!! Thank You!
100k subs is right there ! .....at 99.4k today
My boy does a 5 second intro and just dives right in. Yep, real deal right here.
Waiting to buy an equity when its is under its intrinsic value is not timing the market. 🤦♂️ Timing the market is waiting with a lump sum of cash, for a crash or correction to invest. Some people will invest with dollar cost averaging, by putting the same amount of money in every week or month no matter what the cost is. Which is good, but waiting for opportunities to enter at lower evaluations is not timing the market.
Great content 👌 👏 👍
Thank you.
I base all my financial decisions on the strength of my CZcams advisor’s hairline, hairshine, and total volume.
excellent choice 👍🏾
Your last comment hit home. Called me own wife to complete the will we’ve been putting off for so long
Oh man! That is one good looking hair line!
I’ve watched all your videos. Congrats on 100k subs.
Thank you!
let's go almost 100K we got this!
Great video
The income-happiness numbers are out of date and don't account for COL
100k soon!!!!
I've always been curious to know what it's like to live on the ridiculously rich side of things. I mean, who wouldn't want to experience a life of luxury, with all its glamour and opulence? And of course, the grass always seems greener on the other side, so I would just like to see what the grass is like on that side for once. But at the end of the day, I'm grateful for what I have,
That hairline though 😳 👌🏻, lol.
It’s perfection 👍🏼🎯😂
hairline king 👑
LOVE IT
True
1:07 This is Motley Fool, only they get people to pay for the privilege
Yep, go ahead and rent so you can buy someone else a home instead of your own. Cuz either way you, are buying a home
Imagine everyone just invest in VOO
Vti
I thought he was saying asian parents 😅
The first minute is unsourced BS
Promo_SM 💕