I wish i learnt most of these principles about seven years ago. A lot of people have been trapped strongly in the matrix. Sometimes Protecting your capital is much more important than making money. Basically because if you lose your capital, making money is much harder. ''Missing the train'' vs. ''losing your money''. There are a lot of trains, but if your money is gone, it's over.
Nobody knows anything, you need to create your own process, manage risk and stick to the plan, through thick or thin ,While also continuously learning from mistakes and improving.
Many overlook that banks are return-driven businesses. I don't trust keeping a large sum in a bank. Instead, I invest with guidance, enjoy the benefits, and save for retirement.
After the '08 financial crisis, I've learned not to trust corporations. Since 2020, I've been investing with a financial advisor and have had no major losses, so I'm not going back to relying solely on banks.
Annette Christine Conte is the coach that guides me. She’s a verified coach and she helped me see that returns can be made in both bull and bear markets. She covers things like investing, insurance, making sure retirement is well funded and looking at ways to have a volatility buffer for investment risk, lots of things like that.
I was advised to diversify my portfolio among several assets such as stocks and bonds since this can protect my inherited portfolio of about $2.5m. I’m used to just buying and holding assets which doesn’t seem applicable to the current rollercoaster market plus inflation is catching up with my portfolio. I’m really worried about survival after retirement.
True, I mostly just buy and hold stocks, but my portfolio has been mostly in the red for quite awhile now. Unfortunately to be able to make good gains, you’ll need to be consistent and restructure your portfolio frequently.
It's often true that people underestimate the importance of financial advisors until they feel the negative effects of emotional decision-making. I remember a few summers ago, after a tough divorce, when I needed a boost for my struggling business. I researched and found a licensed advisor who diligently helped grow my reserves despite inflation. Consequently, my reserves increased from $275k to around $750k.
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
Well, there are a few out there who know what they are doing. I tried a few in the past years, but I’ve been with Melissa Terri Swayne for the last five years or so, and her returns have been pretty much amazing.
I greatly appreciate it. I'm fortunate to have come upon your message because investing greatly fascinates me. I'll look Melissa up and send her a message. You've truly motivated me. God's blessings on you.
Taking early notes as to the importance of sound asset diversification and risk management It can’t be overstated. I’ve been trying to grow my portfolio of $300K for sometime now, I would greatly appreciate any other suggestions.
Yes true, I have been in touch with a financial advisor. With an initial starting reserve of $80k, my advisor chooses the entry and exit commands for my portfolio, which has grown to approximately $550k.
Amber Dawn Brummit 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've only made roughly 8% total, or 2% annually, from investing my $150k salary over the past four years. i want to build a good investment portfolio and have been looking at videos and doing research to be more educated. Where should i invest this for stable cashflow?
Stocks are pretty volatile now, but if you do the right math you should be just fine, whereas you can save yourself the hassle by employing the service of a really successful advisor, one with experience since the '08 crash
You have a very valid point, I started investing on my own and for a long time, the market was really ripping me off. I decided to hire a CFA, even though I was skeptical at first, and I beat the market by more than 14.3%. I thought it was a fluke until it happened two years in a row, and so I’ve been sticking to investing via an advisor.
I'm intrigued by this. I've searched for financial advisors online but it's kind of hard to get in touch with one. Okay if I ask you for a recommendation?
I have stuck with the popularly ‘’Jennifer Leigh Hickman” for about five years now, and her performance has been consistently impressive. She’s quite known in her field, Look her up.
My portfolio doesn’t just cater to dividend stocks. I hold $VFIAX (S&P 500 index fund) in my Roth IRA and $VTI (Total Stock Market ETF) in my taxable brokerage account. Two of my largest holdings. The individual dividend stock positions all complement the index holdings.
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
The issue is people have the "I want to do it myself mentality" but not equipped enough for a crash, hence get burnt. Ideally, advisors are reps for investing jobs, and at first-hand encounter, my portfolio has yielded over 300% since 2020 just after the pandemic to date.
How can I participate in this? I sincerely aspire to establish a secure financlal future and am eager to participate. Who is the driving force behind your success?
I have a female advisor named Lucia Alicia Cruz. I recommend researching her. To be very honest, I'm glad I decided to let someone handle expanding my finances even though I almost didn't think I should.
Thank you for the lead, curiously searched Lucia on the web by her full name and spotted her consulting page, no sweat. Just sent her an email, hoping she gets back to me soon..
C'mon George. Robinhood is a fine place to invest. They even have a nice Roth IRA option. Day trading is bad, Robinhood is good. Calling the app "bad" because of the potential bad decisions a person MIGHT make with it is like calling a gun "bad" or a bottle of cough syrup "bad" because you could kill with the gun or drink the whole bottle of syrup. I'm with you on the other things though.
My only problem with Robinhood, is them randomly deciding to freeze certain assets from being sold (stocks, cryptos) when something peaking, or taking a massive dive Yeah yeah, crypto and day trading bad. And this is a good example of that. But with Robinhood, it’s further proof that you don’t actually “own” your stocks, you effectively are loaned them by the company, and only can sell when they think it’s ok for you to
@@ThatGuysGuitars see I've never once had that problem because I am not a day trader, I am a dividend growth investor. Robinhood gets a bad rap for stuff that has zero impact on me personally.
I use Robinhood for my single stock holdings. Like Carnival Corp - 100 shares as a stockholder gets me $100 on board credit for each 7-day cruise. I do this annually (at least), so my return is PRETTY GOOD on this stock. Roughly $1000 in stock gets me $100+ each year.
I don’t trust after what they did a couple years ago when they limited the GameStop, AMC stocks. I made about 20k on those stocks, I COULD HAVE MADE MORE
Literally just unsubscribed because of his out of touch comments on Robinhood. He said they try to “entice” you with risky moves like margin investing. I actually was considering margin investing on Robinhood last month and before I could move forward a page popped up cautioning me about the risk. Sure they promote these services, but not without doing their due diligence.
Bashing Robinhood while promoting some random investment place to open a savings account. 😂😂😂 There's nothing wrong with investment apps. Investing is about knowledge and having the discipline to make the right choices for you and your investment journey. These youtuber are so fake. If you are a normal investor, what are the benefits that big big brokerage like Fidelity, Charles Schwab, or Vanguard offer that small brokerage like Robinhood or M1 don't? Listening to youtubers like this one is the problem.
@gmen35 the reasons I switched my taxable investing out of Robinhood and into Fideltiy was because they don't have an automatic tax-smart selling method. It defaults to FIFO. You can request a specific tax lot via chat only. This should be an easy fix, but they don't have it yet. At the time, they didn't support joint accounts. They do now - so that's good. Another potential issue is they don't allow for trusts or entities to be named as beneficiaries. This wasn't my problem, but it could be for some.
You're only as good as the decisions you make today with the money you have. This time last year I considered getting into stocks without much knowledge and decided to have a consultation with a fiduciary, and it was incredibly insightful. One year and a couple of months in, and I'm almost debt free. I truly cannot stress enough how helpful experts in this field are!
It's not rocket science. Jonas Herman, an expert, is the brain behind my success. I've gotten into a plethora of assets with $10k spread across stocks (options and futures) for the short term and index funds, and ETFs, for the long term which has yielded me over five figures in returns. Now I sit back and just reinvest at intervals while I focus on my career.
It’s not rocket science. As I said previously, I got into stocks, index funds, and REITs, myself but wasn't getting the results I wanted the first couple of months. Got tired of taking losses and decided to seek mentorship from Jonas Herman, a certified fiduciary who helps oversee my investments. With more than 5 figures in roi, now I sit back and reinvest at intervals while I focus on my 9-5.
Sounds like I need help so bad. To me, investing is not worth it and I know that's the same mindset holding me back from taking a step forward in my finance. I guess I'm just scared since I'm green to it.
I have Robinhood for brokerage, HYSA, and Roth IRA with 3% match. Fidelity for child's 529, custodial IRA and brokerage, self employed 401K, and HSA. I like both platforms and have had zero problems with Robinhood
Same for me also except for 529 I don’t have kids. Fidelity 401k and HSA. Robinhood for everything else to retire early and Roth IRA. 2 years never had a problem.
I lost over $80k when everything started to tank. Not because I was in an exchange that went belly up. I was just stupid to hold and because that's what everyone said. I'm still responsible. It just taught me to be a better investor now that I understand more of what could go wrong. It took me over two years of being in the market, I'm really grateful I found one source to recover my money, at least $10k profits weekly. Thanks Charlotte Miller.
I'm surprised that you just mentioned and recommended Charlotte Miller, I met her at a conference in 2018 and we have been working together ever since.
I will be forever grateful to you, you changed my entire 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 Katherine Stewart.
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 been super.
She is my family's personal Broker and also a personal Broker to many families in the United states, she is a licensed broker and a FINRA AGENT in the United States.
Most of these aren’t mistakes. Leveraged real estate is a good idea within reason. If you think real estate is volatile, aren’t mutual funds even more volatile? Diversification is key. Appropriate levels of bonds and fixed income products can be incredibly powerful to smooth out the volatility of the stock market.
I have my M1 finance account set up with index funds and automatic deposits every week. Isn't that the same as setting up an account at Fidelity let's say and setting up automatic deposits in index funds? It's just the platform being used I don't see what the problem is there.
M1 is the most powerful service for buy and hold investors out there period. You can customize a portfolio of index funds, dynamically rebalance and autopilot the investing. No other service can do what it can do. Even Robinhoods 3.5% offer couldn't pry me away because after playing with the app I realized you couldn't actually build a portfolio with desired allocations in it. To me it wasn't worth a few pennies to lock into that app for 5 years.
Biggest lesson i learnt in 2023 in the stock market is that nobody knows what is going to happen next, so practice some humility and employ a strategy with a long term edge.
Nobody knows anything; You need to create your own process, manage risk, and stick to the plan, through thick or thin, While also continuously learning from mistakes and improving.
Uncertainty... it took me 5 years to stop trying to predict what's about to happen in market based on charts studying, cause you never know. Not having a mentor/brokerage advisor cost me 5 years of pain I learnt the hard way and things took a quick turnaround. 300% portfolio increase in the last one year!
Banks don’t make money by selling you CDs. They make money by lending out the money you deposit at a higher interest rate than the rate they are paying you.
@@rachelharrison7961 They also sell investment vehicles like annuities which aren't really a good investment because of all the fees. But they sell them because they get a huge payday once they do.
From $10K to $45K that's the minimum range of profit return every week I thinks it's not a bad one for me, now I have enough to pay bills and take care of my family.
Most people don't understand the concept of "buying the dip" buying the dip is all about buying digital assets when their prices are down and selling off when the price rises.
All We need is the right advice on how to invest in crypto we will be set for life, making $18,000 weekly profit regardless of how bad it gets on the economy.
Yes I agree with you on that. I was once a holder with about 3BTC, 7ETH and $8000 worth of lite coin but now after investingl have about 17BTC and 21 ETH. Glad I got into crypto, talk about a dream job.😊😊
Every crash/collapse brings with it an equivalent market chance if you are early informed and equipped, I've seen folks amass up to $1m amid economy crisis, and even pull it off easily in favorable conditions. Unequivocally, the collapse is getting somebody somewhere rich
Matthew Roszak was my hope during the 'bear summer' last year. I did so many mistakes but also learned so much from it, and of course from Matthew Roszak.
Seriously? You're going to bash Robinhood, the place where you can invest with very fair margin rates and fair maintenance margin rates while schilling for Laurel Road? Sounds like you are one of those things designed to take people's money and make yourself a profit. How do you have over a quarter of a million subs? Then again you referenced Ramsey but at least you weren't claiming Cramer was a stock guru.
I bought a home in 2016 $0 down, 2 family home, up and down not side by side, I also borrowed money to renovate. I lived in 1 unit and rented the other. Mortgage was paid and cash flow every month. Lived there free for about 4 1/2 years. Sold in 21 (regrettably because it could have been much more had I waited) for $150k+ profit. Moral to the story, had no money, bought a house using leverage $0 down + rehab loan. Lived for free and cash flowed several years. Was able to save because I had a place to live for free. And then boom sold for over $150k profit. So now I have money. Whereas prior to leveraging real estate I had no money. Couldn’t save because the cost of living/renting was eating away at all my money. Had I stayed renting, I’d still have $0. Probably less due to inflation since then. Would have never been able to save $100k for a down payment on the median priced home in 2024. Therefore 8 years later I’d be in a worse position than I was prior. Is buying real estate risky? Sure… maybe? Riskier, would have been not buying, hoping inflation stayed the same, hoping I got a raise so I could save for a down payment, hoping prices didn’t rise too far above my savings rate. A whole lot of hope. But, I decided either I buy a house and try, worst case scenario I can’t hack it, sell and go back to renting and still have $0, or it works and I make money, like I did. Only 1 scenario gives you the ability to make money you’d never be able to save. And it’s not renting. Nor is it saving for a down payment. Think of it like this, if you make $50,000/yr, save @ a 20% clip (before tax) you’ll save 10k/yr (which just about nobody can do with todays cost of living, even making over $100k), it would take 10 years to save $100k for a down payment on todays median priced home. Now I do not have a crystal ball, but I’d be willing to bet my left pinky toe that in 10 years home prices will be well above today’s median prices. Meaning your $100k that you scratched and clawed to save for 10 year (the lifestyle you sacrificed for 10 years) is no longer enough for a down payment. I’d be willing to bet that home prices could increase about 30-40% over the next 10 years, which would mean you’d need 30-40% more for a down payment. Which in this scenario would be $130-$140k which is another 3-4 years of scratching, clawing to save. So now after all that, nearly 15 years later (still renting the whole time) you could have been half way done with a 30 year mortgage, built major equity, as well as enjoyed home value appreciation of 30-40%. But hey I’m just a random guy in the CZcams comment section 🤷🏻♂️ what the hell do I know
There's a middle ground between leveraging to the tits on 90-day mortgages like Dave Ramsey did in the 80s, and spending half of your working life building up the cash on hand to buy your first rental property. So long as you can comfortably afford the place without a tenant, you're ready. The sooner you can increase your income, the more total wealth you'll build.
Agree but you should also have a fund saved just for that property. Bad tenants, maintenance, managers are all part of real estate whether it’s paid for in full or not.
You do make a valid point! I think it's less anything malicious and more that your comment is a parallel conversation. I only discovered the Ramsey videos a few months back, but it has always been clear to me that it's not meant to compete as the "best" system solely on math. The problem the product fixes isn't to optimize for every single person - it's optimizing for the average person. And on average, people aren't going to wait until they can afford a mortgage during a vacancy. Think about all those dumb ads you see pushing "passive income" by buying with a mortgage, cashing out by refinancing to buy another, rinse repeat etc. That ends up in the same leveraging to the tits position 😂 From a math standpoint, as someone who has lived in the ecology and quality assurance world, it is baffling to me that risk isn't quantified in forecasting. It's not difficult - risk is always 1) likelihood of occurrence, 2) likelihood of detection upon occurrence and 3) damage caused on occurrence. Maybe it's just an economics thing? Like the nobel prizes given out in the early 90s for models that never actually work with real-world data?
Getting a loan for a rental property is only bad for someone who has no idea what they’re doing. Everything is risky (real estate, crypto, running a business) IF you don’t know how to manage it and turn a profit. If you understand your numbers and buy properties that cash flow you can build equity over time without putting much money into it. Real estate is by far the most profitable investment through history. You just have to know what you’re doing.
Leveraged real estate has way higher returns than paid off real estate; paid off real estate doesn’t even beat the stock market… And we’re all so sick of the Dave Ramsey story where it was OVER leveraging that screwed him over.
If you have 30 years to invest, literally put your money in the VOO and QQQM in M1 and forget about it. Not everyone needs to pay a 1% AUM fee. Just do the math on what that does to your returns.
The issue is most people have the “I will do it myself mentality” but not skilled enough. Ideally, advisors are perfect reps for investing jobs and at first-hand experience, my portfolio has yielded over 330% since covid-outbreak to date, summing up nearly $1m.
Karen Lynne Chess is the licensed FA I use. Just google the name. You’d find necessary details to work with and set up an appointment. To be honest, I almost didn't buy the idea of letting someone handle growing my finance, but so glad I did.
Team Ramsey bashing an actual bank, SoFi, because they might offer you a personal loan then pumping a non-bank Laurel Road (Keybank backed) that also offers personal loans. The hypocrisy is astounding with these guys. It's been a lot of hinting that people can only be successful if they use Ramsey specific solutions, just like lobbyist influenced politicians. Pump the advertisers and bash their competitors. Unsubscribing.
Investing apps are just brokerage accounts. It's up to the user to decide what to do with it. You can easily open an IRA through any of them. Also, investing in real estate with cash is pointless because your returns would be too low. It's only worth real estate investing if you are able to take out a loan for it. If you are buying with cash you are better off just putting that money into the stock market.
Remember their target audience. Its always people who make terrible financial decisions and are bad at handling debt. If you make one exception, then others will follow. So its best for people who can't handle debt to never get in debt, even if, numbers wise, buying in cash will always do worse than the stock market.
@@rebeltheharem7028 good point, I think the key takeaway from the Ramsey group is to avoid consumer debt. Only using debt to purchase appreciating assets such as real estate, and making living within one’s means.
@@rebeltheharem7028 I just think in general they'd be better off actually explaining potential upsides and downsides and why they do not recommend it instead of just writing it off without much context. They just write things off without context and to anybody that is reasonably well-informed on what they are talking about, they just look like they didn't do their research because they gloss over a lot of basic stuff. Like I'm sorry but using Dave Ramsey's debt example from 40 years ago isn't a good reason to talk about real estate risks. Having that sort of leverage is WAY harder to even accomplish with today's rules/regulations around lending, but they constantly use that as an example of why leverage is bad.
@@sal5604 5 dollars a month, so if you factor in the payment for gold, you are getting an extra145$ annually in your ira if you max it out, and that extra money does not count against your max annual contribution limit.
My take is to save up until you can make a 50% down payment. Then pay 20% down, while getting a low interest rate loan (basically not this year). The remaining 30% should be kept invested. And just keep paying like normal. That way, you will have both a constant investment that can keep getting interest, you won't have to worry about raising house prices anymore, and a huge safety net incase something happens and you can't pay the mortgage for 3 years or more. Its always financially beneficial to get a 30 year mortgage over paying cash, and its always more beneficial to pay a 20% down when getting the mortgage, and saving the rest. In other words, you are hedging against losing against the chance of getting in a bad financial situation like medical bills or job loss. If you haven't saved up at least 40% of the house price, then you probably aren't ready to buy a house yet. For me, this mitigates 3 things important to me. 1. Personal risk of default. 2. House Price volatility (FOMO/depreciation). 3. Opportunity cost of alternative investments. Of course, this all hinges on the mortgage payment still being within 30% of your gross income, while still being able to save 15% of income.
Bonds aren't necessarily a bad investment. They just aren't good for young people. But as you get older and closer to retirement, you may want to include some bonds in your portfolio. (While still keeping a majority in equities.)
Everyone who wants any stability should have at least some bonds. If your risk tolerance or capacity is low then you should be in bonds and other income products. Good for wealth building? No. But if you're gonna freak out if you lose 5% In a downturn then low risk funds are good
The first step to successful investment is figuring your goals and risk tolerance either on your own or with the help of a financial professional but it's very advisable you make use of professional
the only thing I disagree with is the leveraged real estate. Yes, right now would be a terrible time to do this, but this is how I got my start back in the 90s. Real estate was cheap and so were the mortgages. Yet, in my area rents were high (for that time period). Is it work? yes. Is it a get rich quick scheme? no. Then when real estate took off I sold all the properties, clear the leverage, pocked lots of money and moved on.
Highly dependent on the time you buy. My townhouse is 4x the value a decade later. And that happens to be the point where most people start to see profits on it. But sometimes it’s a worse choice when compared to normal investing.
@@mhodge0890 depends on what you consider cheap. The market will collapse eventually. It always does. And when it does there will be buying opportunities. It collapsed in 2008 and there were a ton of opportunities. We are now about 9 years overdue for a correction. The next one will be a doozy. If you play your financial cards correctly, you can snatch up some of these deals.
I don't buy this. Many people trade and do just fine, even in a down market. The problem is when people put too much faith in it and don't take the time to watch the market. Take this advice here with a grain of salt.
I woke up to the tragic drawbacks of our debt-based financial system during the last financial crash. Through discipline, determination and Abby Joseph Cohen my financial advisor, I was able to retire recently in my early '50s with a bit of land in the Williamson act on the California coast and an investment portfolio that can sustain my daily living. I try to spread the word and encourage many people I meet it is possible to achieve the goal of independence. Living below your means can be enormously rewarding! Practice humility and above all, Invest in the financial markets with expert guidance.
So I was watching this with the kids in the car and we were almost home and my 9 and 7 year old said, ‘no daddy please keep driving around, George is so funny we want to keep watching!’ Trying to teach them good financial principles young, thanks George for entertaining them at the same time 😂
Leverage = risk. If you house hack but can still afford the mortgage from salary even without any other renters you won't be out over your skis. I'm just here to tell everyone they can become a millionaire working a normal job, investing with M1 and having a REASONABLE amount of leverage on real estate. I know because I've done all of that and it worked.
If the cash value of a life insurance plan goes to the insurance company when you die, why would anyone ever buy a policy like that? What is the pitch for a policy like that?
House hacking doesn't fully eliminate risk of real estate, but it does reduce it by a lot Maintenance and vacancy should be part of the purchasing equation before going into a house hack. And please, for the love of god, stop comparing what Dave did in the 80s to the industry today. They are completely different. A lot of the same risks/work you talk about with real estate exist when paying cash too.
This is one disgusting video George... "Don't use a stock app, invest with my sponsor instead!". Great "advice" if you want to skip the market average 10% returns and no overhead. What a new low.
Leveraged real estate is a way many, many people have become wealthy, and is very safe compared to other investments, as long as you’ve done your homework. It is also extremely stable and not near as volatile as others. Rent prices are even less volatile and across the U.S. rise on average every year, and rarely ever drop as all. This is a straw man argument to bring up all the influencers talking about 0% down and the riskier strategies to invest in real estate. But doing something like moving and renting your old home out, or paying 15-20% down for a rental is a very solid investment and would enhance any investment portfolio.
You should establish the difference between wealth building/investing and wealth preservation. The bank products are fine tools for wealth preservation.
Annuities would be a good 4th bad investment to add. The rule on annuities is "don't get an annuity." They mostly benefit the financial institution who is servicing it for you and not you. And if you don't want to change banks for a higher interest rate, just set up an account with Treasury Direct and start buying T-bills (Government debt) which yield ~5.21%. You have to buy in increments of $100.00 and can buy for 4, 8, 13, 17, 26 or 52 weeks depending on when you might need to money.
Eatng at taco bell in sweat pants is not a dark time. It means you've made it because you no longer care what other's think. You just want to be comfortable and eat cheap tasty food.
Whatever you invest in through whichever account, make sure you have a good criteria to evaluate the fund before you put money into it. Don’t choose any fund, including an index fund, because someone ‘said so’ . No matter who recommends the fund evaluate its past performance for yourself. Yes, past performance is no guarantee of future performance, but it is a good, strong indicator.
I’m from the Philippines and I thank God for Dave Ramsey and his team, now I’m on baby step 3.. while also contemplating for baby step 4, where do you think I should put my money if not on investing apps that would give me access to VOO or other S&P 500? Thank you for taking the time to read my comment and questions. More power!
Did you equate what Dave was doing with short term 90 day loans with someone who buys a rental property with a 30 year fixed rate loan? Those are two completely different risk factors. Rental real estate is SIGNIFICANTLY less risky than what Dave was doing with his fix and flips.
There is a difference between doing short term loans like Dave Ramsey was doing and doing a 30 year fixed rate Mortgage with a reasonable percentage of your other income
Hey just curious, why 15-20 year term life instead of 30?especially if you still are pretty young and the policy is pretty cheap. Im guessing if im investing properly i would have a decent nest egg in 20 years anyway.
Getting a policy that covers you 30 years into the future means the insurance company's bet that you will still be alive during the covered period gets more risky, which they'll pass on to you. As a result, you'd be paying quite a bit more annually for a 30 year policy versus as 15 year policy. You also need to figure out (as best you can) what your liabilities will be between Years 20-30. Examples - will you still have kids that are still dependents during those years? Will you still have much of a mortgage at that point? All that said, it's likely still better to go with a 30 year term than with a whole life policy!
Can someone explain to me why all the WSB regards on Reddit use Robinhood I’ve been with Schwab for 10 years and since there aren’t any more outright fees for trades (like most brokers) why wouldn’t people go with the established institution?
Robinhood gives u a 5.5% on your cash 1% for the amount u deposit and Roth match of 1% or 3% on the spot. Robinhood is better imo and FDIC approved for up to like 2.5million
Robinhood is the reason your Schwab account and others have 0 fees. Robinhood was the one who was at the forefront of free trading. So the question goes both ways, why not support someone like that?
They're all basically the same now. It all depends on exactly the nuanced thing you want to do. I'm switching the get to Schwab from M1 a bit reluctantly, but M1 has the best set it and forget it portfolio builder on the market. Robinhood has the 3% match thing. Schwab is nice because you can set everything up in one spot. I'm at the point where I'm much more worried about creating a unified vision of household finances with a number my wife can call if anything happens to me. I want a CFP that can help her continue on the path and know what next steps to take and look at our blind spots. Not to mention Schwab the only one with a free trader API, so you can build your own app to manage your portfolio.
I was deep into leveraged real estate, then came to love the baby steps, baby step 7 now 5 years from when i started, cant wait to pay cash for my next real estate purchase!
1st rule of finance: Don’t trust anybody who stands to make a financial gain off of your decision UNLESS their gains are in direct correlation with your own. Ex. They have an affiliate link for you to use….
So like, I don’t think George or anyone on that team that researched this has used M1 finance before with the way they were just describing apps… There is one trading window a day two if you pay for premium membership it highly incentivizes retirement investing, and it also also doesn’t incentivize single stock purchasing? There’s no social aspect. It really is a buy and hold app. Not saying it’s the best out there but nothing what you just described.
Great information. Maybe you could tone it down on the frequency of jokes. They're implemented a tad bit too much amongst the wealth of information Im trying to internalize
Don't invest with broker like Robinhood???? Sorry sir I'm at 15% return. That's bad advice. You can make alot of money I'm Robinhood, just invest in etfs
Disagree with the leveraged real estate segment. It’s important to note that Dave was financing flips with short term hard money loans. Purchasing a rental with 20% down on a 15 year note is a smart move. It’s important to keep in mind that an investor may have to cover the note, so don’t get over extended, follow the baby steps and not have any consumer debt.
My strategy has always been to invest 25% of my income in the stock market at the start of each month and hold for at least 5 years. However, I've recently been considering ways to make short-term profits from the market.
Working with a financial advisor has been a game-changer for me. They provided invaluable insights and tailored strategies that aligned perfectly with my risk tolerance and financial objectives. With their support, I've seen significant growth in my investments and gained confidence in my financial future.
Working with a financial advisor has been a game-changer for me. They provided invaluable insights and tailored strategies that aligned perfectly with my risk tolerance and financial objectives. With their support, I've seen significant growth in my investments and gained confidence in my financial future.
No doubt, having the right plan is invaluable, my portfolio is well-matched for every season of the market and recently hit 100% rise from early last year. I and my CFP are working on a 7 figure ballpark goal, tho this could take till Q3 2024.
I use Robinhood for my single stock holdings. Like Carnival Corp - 100 shares as a stockholder gets me $100 on board credit for each 7-day cruise. I do this annually (at least), so my return is PRETTY GOOD on this stock. Roughly $1000 in stock gets me $100+ each year. It is not my investment firm.
I wish i learnt most of these principles about seven years ago. A lot of people have been trapped strongly in the matrix. Sometimes Protecting your capital is much more important than making money. Basically because if you lose your capital, making money is much harder. ''Missing the train'' vs. ''losing your money''. There are a lot of trains, but if your money is gone, it's over.
Nobody knows anything, you need to create your own process, manage risk and stick to the plan, through thick or thin ,While also continuously learning from mistakes and improving.
Many overlook that banks are return-driven businesses. I don't trust keeping a large sum in a bank. Instead, I invest with guidance, enjoy the benefits, and save for retirement.
After the '08 financial crisis, I've learned not to trust corporations. Since 2020, I've been investing with a financial advisor and have had no major losses, so I'm not going back to relying solely on banks.
@@Aarrenrhonda3 my partner’s been considering going the same route, could you share more info please on the advisor that guides you.
Annette Christine Conte is the coach that guides me. She’s a verified coach and she helped me see that returns can be made in both bull and bear markets. She covers things like investing, insurance, making sure retirement is well funded and looking at ways to have a volatility buffer for investment risk, lots of things like that.
I was advised to diversify my portfolio among several assets such as stocks and bonds since this can protect my inherited portfolio of about $2.5m. I’m used to just buying and holding assets which doesn’t seem applicable to the current rollercoaster market plus inflation is catching up with my portfolio. I’m really worried about survival after retirement.
True, I mostly just buy and hold stocks, but my portfolio has been mostly in the red for quite awhile now. Unfortunately to be able to make good gains, you’ll need to be consistent and restructure your portfolio frequently.
It's often true that people underestimate the importance of financial advisors until they feel the negative effects of emotional decision-making. I remember a few summers ago, after a tough divorce, when I needed a boost for my struggling business. I researched and found a licensed advisor who diligently helped grow my reserves despite inflation. Consequently, my reserves increased from $275k to around $750k.
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
Well, there are a few out there who know what they are doing. I tried a few in the past years, but I’ve been with Melissa Terri Swayne for the last five years or so, and her returns have been pretty much amazing.
I greatly appreciate it. I'm fortunate to have come upon your message because investing greatly fascinates me. I'll look Melissa up and send her a message. You've truly motivated me. God's blessings on you.
Taking early notes as to the importance of sound asset diversification and risk management It can’t be overstated. I’ve been trying to grow my portfolio of $300K for sometime now, I would greatly appreciate any other suggestions.
Well the bigger the risk, the bigger the reward and such impeccable decisions are better guided by professionals
Yes true, I have been in touch with a financial advisor. With an initial starting reserve of $80k, my advisor chooses the entry and exit commands for my portfolio, which has grown to approximately $550k.
I’ve been looking to switch to an advisor for a while now. Any help pointing me to who your advisor is?
Amber Dawn Brummit 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 just looked her up on the web and I would say she really has an impressive background in investing. I will write her an email shortly.
I've only made roughly 8% total, or 2% annually, from investing my $150k salary over the past four years. i want to build a good investment portfolio and have been looking at videos and doing research to be more educated. Where should i invest this for stable cashflow?
Invest in real estate, ETFs and high-yield savings account.
Stocks are pretty volatile now, but if you do the right math you should be just fine, whereas you can save yourself the hassle by employing the service of a really successful advisor, one with experience since the '08 crash
You have a very valid point, I started investing on my own and for a long time, the market was really ripping me off. I decided to hire a CFA, even though I was skeptical at first, and I beat the market by more than 14.3%. I thought it was a fluke until it happened two years in a row, and so I’ve been sticking to investing via an advisor.
I'm intrigued by this. I've searched for financial advisors online but it's kind of hard to get in touch with one. Okay if I ask you for a recommendation?
I have stuck with the popularly ‘’Jennifer Leigh Hickman” for about five years now, and her performance has been consistently impressive. She’s quite known in her field, Look her up.
My portfolio doesn’t just cater to dividend stocks. I hold $VFIAX (S&P 500 index fund) in my Roth IRA and $VTI (Total Stock Market ETF) in my taxable brokerage account. Two of my largest holdings. The individual dividend stock positions all complement the index holdings.
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
The issue is people have the "I want to do it myself mentality" but not equipped enough for a crash, hence get burnt. Ideally, advisors are reps for investing jobs, and at first-hand encounter, my portfolio has yielded over 300% since 2020 just after the pandemic to date.
How can I participate in this? I sincerely aspire to establish a secure financlal future and am eager to participate. Who is the driving force behind your success?
I have a female advisor named Lucia Alicia Cruz. I recommend researching her. To be very honest, I'm glad I decided to let someone handle expanding my finances even though I almost didn't think I should.
Thank you for the lead, curiously searched Lucia on the web by her full name and spotted her consulting page, no sweat. Just sent her an email, hoping she gets back to me soon..
C'mon George. Robinhood is a fine place to invest. They even have a nice Roth IRA option. Day trading is bad, Robinhood is good. Calling the app "bad" because of the potential bad decisions a person MIGHT make with it is like calling a gun "bad" or a bottle of cough syrup "bad" because you could kill with the gun or drink the whole bottle of syrup. I'm with you on the other things though.
Preach it!
My only problem with Robinhood, is them randomly deciding to freeze certain assets from being sold (stocks, cryptos) when something peaking, or taking a massive dive
Yeah yeah, crypto and day trading bad. And this is a good example of that.
But with Robinhood, it’s further proof that you don’t actually “own” your stocks, you effectively are loaned them by the company, and only can sell when they think it’s ok for you to
@@ThatGuysGuitars see I've never once had that problem because I am not a day trader, I am a dividend growth investor. Robinhood gets a bad rap for stuff that has zero impact on me personally.
I use Robinhood for my single stock holdings. Like Carnival Corp - 100 shares as a stockholder gets me $100 on board credit for each 7-day cruise. I do this annually (at least), so my return is PRETTY GOOD on this stock. Roughly $1000 in stock gets me $100+ each year.
I don’t trust after what they did a couple years ago when they limited the GameStop, AMC stocks. I made about 20k on those stocks, I COULD HAVE MADE MORE
ofc he'll tell you to not use apps/services except those that sponsor him 😂
Pretty much on point for Ramsay or whoever his name is
It's honestly just gross and makes me less likely to watch his other videos
Literally just unsubscribed because of his out of touch comments on Robinhood. He said they try to “entice” you with risky moves like margin investing. I actually was considering margin investing on Robinhood last month and before I could move forward a page popped up cautioning me about the risk. Sure they promote these services, but not without doing their due diligence.
Yea, that was pretty shady
Completely unsurprising, unfortunately.
Bashing Robinhood while promoting some random investment place to open a savings account. 😂😂😂
There's nothing wrong with investment apps. Investing is about knowledge and having the discipline to make the right choices for you and your investment journey. These youtuber are so fake.
If you are a normal investor, what are the benefits that big big brokerage like Fidelity, Charles Schwab, or Vanguard offer that small brokerage like Robinhood or M1 don't?
Listening to youtubers like this one is the problem.
Agreed!
@gmen35 the reasons I switched my taxable investing out of Robinhood and into Fideltiy was because they don't have an automatic tax-smart selling method. It defaults to FIFO. You can request a specific tax lot via chat only. This should be an easy fix, but they don't have it yet.
At the time, they didn't support joint accounts. They do now - so that's good.
Another potential issue is they don't allow for trusts or entities to be named as beneficiaries. This wasn't my problem, but it could be for some.
@gmen35 that said, I still like Robinhood's UI and platform more.
Agreed
I’ve listened to this guy enough to know I’m over listening to this guy…
You're only as good as the decisions you make today with the money you have. This time last year I considered getting into stocks without much knowledge and decided to have a consultation with a fiduciary, and it was incredibly insightful. One year and a couple of months in, and I'm almost debt free. I truly cannot stress enough how helpful experts in this field are!
What assets did you invest in and are you making any money?
It's not rocket science. Jonas Herman, an expert, is the brain behind my success. I've gotten into a plethora of assets with $10k spread across stocks (options and futures) for the short term and index funds, and ETFs, for the long term which has yielded me over five figures in returns. Now I sit back and just reinvest at intervals while I focus on my career.
It’s not rocket science. As I said previously, I got into stocks, index funds, and REITs, myself but wasn't getting the results I wanted the first couple of months. Got tired of taking losses and decided to seek mentorship from Jonas Herman, a certified fiduciary who helps oversee my investments. With more than 5 figures in roi, now I sit back and reinvest at intervals while I focus on my 9-5.
Sounds like I need help so bad. To me, investing is not worth it and I know that's the same mindset holding me back from taking a step forward in my finance. I guess I'm just scared since I'm green to it.
@@Christensen554 I’m in my late forties and would like to start. How can I reach him please?
M1’s Roth IRA is pretty nice. Fractional shares and daily investment rules make it very easy to automate and truly dollar cost average into the market
Fidelity is the same way now
Agree M1 is great, no reason for him to include it with the others
I have Robinhood for brokerage, HYSA, and Roth IRA with 3% match. Fidelity for child's 529, custodial IRA and brokerage, self employed 401K, and HSA. I like both platforms and have had zero problems with Robinhood
Same for me also except for 529 I don’t have kids. Fidelity 401k and HSA. Robinhood for everything else to retire early and Roth IRA. 2 years never had a problem.
I lost over $80k when everything started to tank. Not because I was in an exchange that went belly up. I was just stupid to hold and because that's what everyone said. I'm still responsible. It just taught me to be a better investor now that I understand more of what could go wrong. It took me over two years of being in the market, I'm really grateful I found one source to recover my money, at least $10k profits weekly. Thanks Charlotte Miller.
The very first time we tried, we invested $1000 and after a week, we received $5500. That really helped us a lot to pay up our bills.
I'm surprised that you just mentioned and recommended Charlotte Miller, I met her at a conference in 2018 and we have been working together ever since.
I'm new at this, please how can I reach her?
she's mostly on Instagrams, using the user name
FXMILLER151 💯.. that's it
I will be forever grateful to you, you changed my entire 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 Katherine Stewart.
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 been super.
She is my family's personal Broker and also a personal Broker to many families in the United states, she is a licensed broker and a FINRA AGENT in the United States.
You trade with Katherine Stewart too? Wow that woman has been a blessing to me and my family.
I'm new at this, please how can I reach her?
I was skeptical at first till I decided to try. Its huge returns is awesome. I can't say much.
*Thank you😊 for this video, do you offer account management or have any recommendations?*
As a beginner investor, it's essential for you to have a guide. Myself I'm guided by Mrs Victoria K Walter, a widely known consultant
If you’re using a good manager, it’s easier to earn from the market
That's true. a lot of people today have been
having lots of disappointments in trading in light of helpless direction and awful consultants
I've been trying to trade but I keep making losses and it's frustrating
Could you suggest a consultant for me?
Most of these aren’t mistakes. Leveraged real estate is a good idea within reason. If you think real estate is volatile, aren’t mutual funds even more volatile? Diversification is key. Appropriate levels of bonds and fixed income products can be incredibly powerful to smooth out the volatility of the stock market.
M1 only has two buy windows… so you don’t day trade like robinhood. My guy doesn’t know what he is talking about.
Both are fine places to invest. They are so simple.
Agreed he did not research m1 at all
I love M1 🤑
Yeah he lost me on that point lol
I have my M1 finance account set up with index funds and automatic deposits every week. Isn't that the same as setting up an account at Fidelity let's say and setting up automatic deposits in index funds? It's just the platform being used I don't see what the problem is there.
M1 is great. Don’t listen to this guy
M1 is the most powerful service for buy and hold investors out there period. You can customize a portfolio of index funds, dynamically rebalance and autopilot the investing. No other service can do what it can do. Even Robinhoods 3.5% offer couldn't pry me away because after playing with the app I realized you couldn't actually build a portfolio with desired allocations in it. To me it wasn't worth a few pennies to lock into that app for 5 years.
Biggest lesson i learnt in 2023 in the stock market is that nobody knows what is going to happen next, so practice some humility and employ a strategy with a long term edge.
Nobody knows anything; You need to create your own process, manage risk, and stick to the plan, through thick or thin, While also continuously learning from mistakes and improving.
Uncertainty... it took me 5 years to stop trying to predict what's about to happen in market based on charts studying, cause you never know. Not having a mentor/brokerage advisor cost me 5 years of pain I learnt the hard way and things took a quick turnaround. 300% portfolio increase in the last one year!
Could really use the services of one of these Advisers. Can you kindly elaborate on your Advsor's background and qualifications?
I just looked her up on the web and I would say she really has an impressive background in investing. I will write her an email shortly.
Find what risk you are comfortable with accepting and then find something less risky than that.
Banks don’t make money by selling you CDs. They make money by lending out the money you deposit at a higher interest rate than the rate they are paying you.
Yea…he knows
😂😂😂 u sound like a attention seeking clown 🤡
@@rachelharrison7961 yup. I feel the whole clip was weak advice at best
@@rachelharrison7961 They also sell investment vehicles like annuities which aren't really a good investment because of all the fees. But they sell them because they get a huge payday once they do.
scammer here again. You guys are becoming boring 😴
I don’t care what anyone says I love robinhood I invest weekly I never had a problem for 2 years now.
I've been with them since 2019. Never had a problem.
From $10K to $45K that's the minimum range of profit return every week I thinks it's not a bad one for me, now I have enough to pay bills and take care of my family.
Most people don't understand the concept of "buying the dip" buying the dip is all about buying digital assets when their prices are down and selling off when the price rises.
All We need is the right advice on how to invest in crypto we will be set for life, making $18,000 weekly profit regardless of how bad it gets on the economy.
Yes I agree with you on that. I was once a holder with about 3BTC, 7ETH and $8000 worth of lite coin but now after investingl have about 17BTC and 21 ETH. Glad I got into crypto, talk about a dream job.😊😊
Hello, how do you make such amount? Sometimes I feel so down of myself because of low finance but I still believe in God.
I Thank God for Bringing Christine Evelyn Mackie brokage service into my life
Thanks George. I got a 150K mortgage, bought 75k worth of Brett with it. YOLO from profit of 10k thanks a lot Matthew Roszak~
Every crash/collapse brings with it an equivalent market chance if you are early informed and equipped, I've seen folks amass up to $1m amid economy crisis, and even pull it off easily in favorable conditions. Unequivocally, the collapse is getting somebody somewhere rich
Waking up every 14th of each month to $210,000 it’s a blessing to I and my family… Big gratitude to Matthew Roszak 🙌
Matthew Roszak was my hope during the 'bear summer' last year. I did so many mistakes but also learned so much from it, and of course from Matthew Roszak.
I have messed up severally doing it on my own. How can I get his info?*
@Johntaylo-g4t
Thanks, Much appreciated 👍🏿
M1 finance is alot different then robinhood
Seriously? You're going to bash Robinhood, the place where you can invest with very fair margin rates and fair maintenance margin rates while schilling for Laurel Road? Sounds like you are one of those things designed to take people's money and make yourself a profit. How do you have over a quarter of a million subs? Then again you referenced Ramsey but at least you weren't claiming Cramer was a stock guru.
I bought a home in 2016 $0 down, 2 family home, up and down not side by side, I also borrowed money to renovate. I lived in 1 unit and rented the other. Mortgage was paid and cash flow every month. Lived there free for about 4 1/2 years. Sold in 21 (regrettably because it could have been much more had I waited) for $150k+ profit. Moral to the story, had no money, bought a house using leverage $0 down + rehab loan. Lived for free and cash flowed several years. Was able to save because I had a place to live for free. And then boom sold for over $150k profit. So now I have money. Whereas prior to leveraging real estate I had no money. Couldn’t save because the cost of living/renting was eating away at all my money. Had I stayed renting, I’d still have $0. Probably less due to inflation since then. Would have never been able to save $100k for a down payment on the median priced home in 2024. Therefore 8 years later I’d be in a worse position than I was prior. Is buying real estate risky? Sure… maybe? Riskier, would have been not buying, hoping inflation stayed the same, hoping I got a raise so I could save for a down payment, hoping prices didn’t rise too far above my savings rate. A whole lot of hope. But, I decided either I buy a house and try, worst case scenario I can’t hack it, sell and go back to renting and still have $0, or it works and I make money, like I did. Only 1 scenario gives you the ability to make money you’d never be able to save. And it’s not renting. Nor is it saving for a down payment. Think of it like this, if you make $50,000/yr, save @ a 20% clip (before tax) you’ll save 10k/yr (which just about nobody can do with todays cost of living, even making over $100k), it would take 10 years to save $100k for a down payment on todays median priced home. Now I do not have a crystal ball, but I’d be willing to bet my left pinky toe that in 10 years home prices will be well above today’s median prices. Meaning your $100k that you scratched and clawed to save for 10 year (the lifestyle you sacrificed for 10 years) is no longer enough for a down payment. I’d be willing to bet that home prices could increase about 30-40% over the next 10 years, which would mean you’d need 30-40% more for a down payment. Which in this scenario would be $130-$140k which is another 3-4 years of scratching, clawing to save. So now after all that, nearly 15 years later (still renting the whole time) you could have been half way done with a 30 year mortgage, built major equity, as well as enjoyed home value appreciation of 30-40%. But hey I’m just a random guy in the CZcams comment section 🤷🏻♂️ what the hell do I know
Thank you @ justin_vesting
You know what your talking about.
There's a middle ground between leveraging to the tits on 90-day mortgages like Dave Ramsey did in the 80s, and spending half of your working life building up the cash on hand to buy your first rental property. So long as you can comfortably afford the place without a tenant, you're ready. The sooner you can increase your income, the more total wealth you'll build.
Agree but you should also have a fund saved just for that property. Bad tenants, maintenance, managers are all part of real estate whether it’s paid for in full or not.
@@ericar.6370 Yup. That's pretty much what I meant by "comfortably."
You do make a valid point! I think it's less anything malicious and more that your comment is a parallel conversation. I only discovered the Ramsey videos a few months back, but it has always been clear to me that it's not meant to compete as the "best" system solely on math.
The problem the product fixes isn't to optimize for every single person - it's optimizing for the average person. And on average, people aren't going to wait until they can afford a mortgage during a vacancy.
Think about all those dumb ads you see pushing "passive income" by buying with a mortgage, cashing out by refinancing to buy another, rinse repeat etc. That ends up in the same leveraging to the tits position 😂
From a math standpoint, as someone who has lived in the ecology and quality assurance world, it is baffling to me that risk isn't quantified in forecasting. It's not difficult - risk is always 1) likelihood of occurrence, 2) likelihood of detection upon occurrence and 3) damage caused on occurrence. Maybe it's just an economics thing? Like the nobel prizes given out in the early 90s for models that never actually work with real-world data?
Getting a loan for a rental property is only bad for someone who has no idea what they’re doing. Everything is risky (real estate, crypto, running a business) IF you don’t know how to manage it and turn a profit. If you understand your numbers and buy properties that cash flow you can build equity over time without putting much money into it. Real estate is by far the most profitable investment through history. You just have to know what you’re doing.
I dont see how buying etfs and index funds is any different than using a brokerage to do the same
The difference is that he doesn’t get a kick back
@@nicholasgutierrez9940 true
Leveraged real estate has way higher returns than paid off real estate; paid off real estate doesn’t even beat the stock market… And we’re all so sick of the Dave Ramsey story where it was OVER leveraging that screwed him over.
Whats wrong with M1 ? I don't see the gamification
If you have 30 years to invest, literally put your money in the VOO and QQQM in M1 and forget about it. Not everyone needs to pay a 1% AUM fee. Just do the math on what that does to your returns.
Looking for long term investments that can fetch millions. If you had $250k, which one would you go with for retirement planning?
consider 3 fund portfolio using VOO, SCHG, and SPYD invest majority of investments using them
The issue is most people have the “I will do it myself mentality” but not skilled enough. Ideally, advisors are perfect reps for investing jobs and at first-hand experience, my portfolio has yielded over 330% since covid-outbreak to date, summing up nearly $1m.
@@M.Morgan good gains! how can i connect with your please? in dire need of professional advisory to expand my investment options
@@M.Morgan good gains! how can i connect with your advisor please? in dire need of financial advisory to expand my investment options
Karen Lynne Chess is the licensed FA I use. Just google the name. You’d find necessary details to work with and set up an appointment. To be honest, I almost didn't buy the idea of letting someone handle growing my finance, but so glad I did.
Team Ramsey bashing an actual bank, SoFi, because they might offer you a personal loan then pumping a non-bank Laurel Road (Keybank backed) that also offers personal loans. The hypocrisy is astounding with these guys. It's been a lot of hinting that people can only be successful if they use Ramsey specific solutions, just like lobbyist influenced politicians. Pump the advertisers and bash their competitors. Unsubscribing.
"Don't invest in anything you don't understand"...
Right... "Hey honey, we can stop investing now!!! ;-)
I have Robinhood for index funds which I invest in for the long run. I do not plan to sell for a long time.
“ if you fall for the trends, you’ll fall for the traps”… amen
Reminds me of Roman’s 12 2
Investing apps are just brokerage accounts. It's up to the user to decide what to do with it. You can easily open an IRA through any of them. Also, investing in real estate with cash is pointless because your returns would be too low. It's only worth real estate investing if you are able to take out a loan for it. If you are buying with cash you are better off just putting that money into the stock market.
Remember their target audience. Its always people who make terrible financial decisions and are bad at handling debt. If you make one exception, then others will follow. So its best for people who can't handle debt to never get in debt, even if, numbers wise, buying in cash will always do worse than the stock market.
@@rebeltheharem7028 good point, I think the key takeaway from the Ramsey group is to avoid consumer debt. Only using debt to purchase appreciating assets such as real estate, and making living within one’s means.
@@rebeltheharem7028 I just think in general they'd be better off actually explaining potential upsides and downsides and why they do not recommend it instead of just writing it off without much context.
They just write things off without context and to anybody that is reasonably well-informed on what they are talking about, they just look like they didn't do their research because they gloss over a lot of basic stuff.
Like I'm sorry but using Dave Ramsey's debt example from 40 years ago isn't a good reason to talk about real estate risks. Having that sort of leverage is WAY harder to even accomplish with today's rules/regulations around lending, but they constantly use that as an example of why leverage is bad.
Pay cash for real estate ? Just invest in REITs then !
I love how a meme channel tears down what is essentially meme investments. Keep it up, George 👍
“The crock pot beats the microwave any time”, my new mantra 😂😂😂😂😂
3% roth IRA on contributions and 5% apy with no expense ratio is great on robinhood. This guy, however, is not so great.
How much do you pay for your RHGold membership to receive those rates?
@@sal5604 5 dollars a month, so if you factor in the payment for gold, you are getting an extra145$ annually in your ira if you max it out, and that extra money does not count against your max annual contribution limit.
My take is to save up until you can make a 50% down payment. Then pay 20% down, while getting a low interest rate loan (basically not this year).
The remaining 30% should be kept invested. And just keep paying like normal.
That way, you will have both a constant investment that can keep getting interest, you won't have to worry about raising house prices anymore, and a huge safety net incase something happens and you can't pay the mortgage for 3 years or more.
Its always financially beneficial to get a 30 year mortgage over paying cash, and its always more beneficial to pay a 20% down when getting the mortgage, and saving the rest.
In other words, you are hedging against losing against the chance of getting in a bad financial situation like medical bills or job loss.
If you haven't saved up at least 40% of the house price, then you probably aren't ready to buy a house yet.
For me, this mitigates 3 things important to me.
1. Personal risk of default.
2. House Price volatility (FOMO/depreciation).
3. Opportunity cost of alternative investments.
Of course, this all hinges on the mortgage payment still being within 30% of your gross income, while still being able to save 15% of income.
Bonds aren't necessarily a bad investment. They just aren't good for young people. But as you get older and closer to retirement, you may want to include some bonds in your portfolio. (While still keeping a majority in equities.)
Everyone who wants any stability should have at least some bonds. If your risk tolerance or capacity is low then you should be in bonds and other income products. Good for wealth building? No. But if you're gonna freak out if you lose 5% In a downturn then low risk funds are good
@@laundrygoddess4totally. A retired person with 100% equities in their nest egg is just begging for the worst kind of financial trouble.
You'd be better off going into SCHD, VIG or another relatively safe dividend ETF
@@Bando1017 it's better to do both. Diversity is key in any portfolio for risk mitigation
@Bando1017 I agree.
What if I use M1 for a Roth IRA? Checkmate.
I know nothing about trading /investment and l'm keen on getting started. What are some strategies to get started with?
Please educate me. I've come across this name before. Now I am interested. How can I reach her?
This is correct, Stephanie strategy has normalized winning trades for me also, and it's a huge milestone for me looking back to how it all started..
The first step to successful investment is figuring your goals and risk tolerance either on your own or with the help of a financial professional but it's very advisable you make use of professional
Yes, I agree with you. Her platform is wonderful, and her strategies are exceptional
She's on Facebook.
I remember all the books and tic toks being made about airbnbs to get rich quick. Now all those people are now broke and cannot sell off their homes.
the only thing I disagree with is the leveraged real estate. Yes, right now would be a terrible time to do this, but this is how I got my start back in the 90s. Real estate was cheap and so were the mortgages. Yet, in my area rents were high (for that time period). Is it work? yes. Is it a get rich quick scheme? no. Then when real estate took off I sold all the properties, clear the leverage, pocked lots of money and moved on.
Highly dependent on the time you buy. My townhouse is 4x the value a decade later. And that happens to be the point where most people start to see profits on it. But sometimes it’s a worse choice when compared to normal investing.
Key word was. Real estate will never be cheap again. Those who missed out missed out
@@mhodge0890 depends on what you consider cheap. The market will collapse eventually. It always does. And when it does there will be buying opportunities. It collapsed in 2008 and there were a ton of opportunities. We are now about 9 years overdue for a correction. The next one will be a doozy. If you play your financial cards correctly, you can snatch up some of these deals.
Do you own the stocks on Robinhood?
Don’t buy stocks… max out 401ks… so basically buy stocks
I don't buy this. Many people trade and do just fine, even in a down market. The problem is when people put too much faith in it and don't take the time to watch the market. Take this advice here with a grain of salt.
I woke up to the tragic drawbacks of our debt-based financial system during the last financial crash. Through discipline, determination and Abby Joseph Cohen my financial advisor, I was able to retire recently in my early '50s with a bit of land in the Williamson act on the California coast and an investment portfolio that can sustain my daily living. I try to spread the word and encourage many people I meet it is possible to achieve the goal of independence. Living below your means can be enormously rewarding! Practice humility and above all, Invest in the financial markets with expert guidance.
I've used the apps and like anything it requires discipline and doing your homework
So I was watching this with the kids in the car and we were almost home and my 9 and 7 year old said, ‘no daddy please keep driving around, George is so funny we want to keep watching!’
Trying to teach them good financial principles young, thanks George for entertaining them at the same time 😂
Leverage = risk. If you house hack but can still afford the mortgage from salary even without any other renters you won't be out over your skis. I'm just here to tell everyone they can become a millionaire working a normal job, investing with M1 and having a REASONABLE amount of leverage on real estate. I know because I've done all of that and it worked.
If the cash value of a life insurance plan goes to the insurance company when you die, why would anyone ever buy a policy like that? What is the pitch for a policy like that?
House hacking doesn't fully eliminate risk of real estate, but it does reduce it by a lot
Maintenance and vacancy should be part of the purchasing equation before going into a house hack.
And please, for the love of god, stop comparing what Dave did in the 80s to the industry today. They are completely different.
A lot of the same risks/work you talk about with real estate exist when paying cash too.
This is one disgusting video George... "Don't use a stock app, invest with my sponsor instead!". Great "advice" if you want to skip the market average 10% returns and no overhead. What a new low.
Leveraged real estate is a way many, many people have become wealthy, and is very safe compared to other investments, as long as you’ve done your homework. It is also extremely stable and not near as volatile as others. Rent prices are even less volatile and across the U.S. rise on average every year, and rarely ever drop as all.
This is a straw man argument to bring up all the influencers talking about 0% down and the riskier strategies to invest in real estate. But doing something like moving and renting your old home out, or paying 15-20% down for a rental is a very solid investment and would enhance any investment portfolio.
You should establish the difference between wealth building/investing and wealth preservation. The bank products are fine tools for wealth preservation.
Annuities would be a good 4th bad investment to add. The rule on annuities is "don't get an annuity." They mostly benefit the financial institution who is servicing it for you and not you. And if you don't want to change banks for a higher interest rate, just set up an account with Treasury Direct and start buying T-bills (Government debt) which yield ~5.21%. You have to buy in increments of $100.00 and can buy for 4, 8, 13, 17, 26 or 52 weeks depending on when you might need to money.
Eatng at taco bell in sweat pants is not a dark time. It means you've made it because you no longer care what other's think. You just want to be comfortable and eat cheap tasty food.
What about Wealthsimple?
how many whole life insurance agents have whole life insurance policies themselves?
Whatever you invest in through whichever account, make sure you have a good criteria to evaluate the fund before you put money into it. Don’t choose any fund, including an index fund, because someone ‘said so’ . No matter who recommends the fund evaluate its past performance for yourself. Yes, past performance is no guarantee of future performance, but it is a good, strong indicator.
instructions unclear: I invested 200k in Quakers Life. Now, I have a truck driver outside asking where I want my palettes of cereal.. 😢
I’m from the Philippines and I thank God for Dave Ramsey and his team, now I’m on baby step 3.. while also contemplating for baby step 4, where do you think I should put my money if not on investing apps that would give me access to VOO or other S&P 500? Thank you for taking the time to read my comment and questions. More power!
Robinhood is fine bros chill out
Did you equate what Dave was doing with short term 90 day loans with someone who buys a rental property with a 30 year fixed rate loan? Those are two completely different risk factors. Rental real estate is SIGNIFICANTLY less risky than what Dave was doing with his fix and flips.
M1 is great. It allows automated investing into ETFs and fractional shares as well. Unnecessary shot at a great way to invest George
Robinhood gave me 3% back on my rollover to keep the same funds I had (VT, BND). It all comes down to discipline.
There is a difference between doing short term loans like Dave Ramsey was doing and doing a 30 year fixed rate Mortgage with a reasonable percentage of your other income
Please don’t include the annoying cut scenes. It doesn’t add to the video in anyway.
Love your content & humorous 90's references 👍🏾
Hey just curious, why 15-20 year term life instead of 30?especially if you still are pretty young and the policy is pretty cheap. Im guessing if im investing properly i would have a decent nest egg in 20 years anyway.
Getting a policy that covers you 30 years into the future means the insurance company's bet that you will still be alive during the covered period gets more risky, which they'll pass on to you. As a result, you'd be paying quite a bit more annually for a 30 year policy versus as 15 year policy. You also need to figure out (as best you can) what your liabilities will be between Years 20-30. Examples - will you still have kids that are still dependents during those years? Will you still have much of a mortgage at that point? All that said, it's likely still better to go with a 30 year term than with a whole life policy!
@@tjhsox i got my quote back, its cheaper per year for 30 than 15 🤷🏼♂️
@@jordanfessler9664 Oh, that is interesting. Thanks for posting.
Can a Robinhood account be moved over to a Fidelity account?
Great question!!
I have both $10,000 in my Robinhood... plus over $125,000 in my Fedelity
Can someone explain to me why all the WSB regards on Reddit use Robinhood
I’ve been with Schwab for 10 years and since there aren’t any more outright fees for trades (like most brokers) why wouldn’t people go with the established institution?
Robinhood gives u a 5.5% on your cash 1% for the amount u deposit and Roth match of 1% or 3% on the spot. Robinhood is better imo and FDIC approved for up to like 2.5million
Robinhood is awesome lol
Robinhood is the reason your Schwab account and others have 0 fees. Robinhood was the one who was at the forefront of free trading. So the question goes both ways, why not support someone like that?
They're all basically the same now. It all depends on exactly the nuanced thing you want to do. I'm switching the get to Schwab from M1 a bit reluctantly, but M1 has the best set it and forget it portfolio builder on the market. Robinhood has the 3% match thing. Schwab is nice because you can set everything up in one spot. I'm at the point where I'm much more worried about creating a unified vision of household finances with a number my wife can call if anything happens to me. I want a CFP that can help her continue on the path and know what next steps to take and look at our blind spots. Not to mention Schwab the only one with a free trader API, so you can build your own app to manage your portfolio.
I actually afforded all the wood in my last video using these tips
I was deep into leveraged real estate, then came to love the baby steps, baby step 7 now 5 years from when i started, cant wait to pay cash for my next real estate purchase!
What brokerages would you recommend?
Vanguard and Fidelity
..or Robinhood 4 short-term savings like 5 to 10 years😊
I have Fidelity for my 401k plus Robinhood..SCHG..FTEC and SPLG
Hard video because sometimes the best investment is in oneself but still good 👍
Yeah don't invest in brokerages like Robinhood, but it's ok to put your money in Laurel Road.
Leveraged real estate has changed my life! Thanks for discouraging people from buying RE, more for me! 😂
Nice timing… because I literally had my calendar set for converting my term life to whole life
1st rule of finance: Don’t trust anybody who stands to make a financial gain off of your decision UNLESS their gains are in direct correlation with your own. Ex. They have an affiliate link for you to use….
So like, I don’t think George or anyone on that team that researched this has used M1 finance before with the way they were just describing apps…
There is one trading window a day two if you pay for premium membership it highly incentivizes retirement investing, and it also also doesn’t incentivize single stock purchasing? There’s no social aspect. It really is a buy and hold app. Not saying it’s the best out there but nothing what you just described.
George, too much extra memes and jokes
Can't save up 300k for a junk house that needs two of everything? No problem! Just save up 450k cash for a nicer one!
What about the public app?
My high yield savings account interest is currently almost double my 401K? I’m so sad.
Is your 401k invested in index funds?
The US Stock market is up 17 percent this year.
Great information. Maybe you could tone it down on the frequency of jokes. They're implemented a tad bit too much amongst the wealth of information Im trying to internalize
Don't invest with broker like Robinhood????
Sorry sir I'm at 15% return.
That's bad advice.
You can make alot of money I'm Robinhood, just invest in etfs
Are you sure RH has to do with that return or your investments that you can purchase on any brokerage app?
@sal5604 it's the stocks I choose. But robinhood never gave me issues as a brokerage account, though.
Disagree with the leveraged real estate segment. It’s important to note that Dave was financing flips with short term hard money loans. Purchasing a rental with 20% down on a 15 year note is a smart move. It’s important to keep in mind that an investor may have to cover the note, so don’t get over extended, follow the baby steps and not have any consumer debt.
My strategy has always been to invest 25% of my income in the stock market at the start of each month and hold for at least 5 years. However, I've recently been considering ways to make short-term profits from the market.
Investing in stocks can be a wise decision, especially if you have a reliable trading system that can lead you to fruitful days of success.
Working with a financial advisor has been a game-changer for me. They provided invaluable insights and tailored strategies that aligned perfectly with my risk tolerance and financial objectives. With their support, I've seen significant growth in my investments and gained confidence in my financial future.
Working with a financial advisor has been a game-changer for me. They provided invaluable insights and tailored strategies that aligned perfectly with my risk tolerance and financial objectives. With their support, I've seen significant growth in my investments and gained confidence in my financial future.
No doubt, having the right plan is invaluable, my portfolio is well-matched for every season of the market and recently hit 100% rise from early last year. I and my CFP are working on a 7 figure ballpark goal, tho this could take till Q3 2024.
Please can you leave the info of your lnvestment advsor here? I’m in dire need for one
I love this video. Informative and fun, and I really love the references too 😀
Vanguard S&P funds are set it and forget it. It’s really that easy.
Don't use acorns
Where’s the best place to invest in bitcoin and crypto coins then?
M1 and Robinhood are great actually. You shouldn't automatically assume everybody is day trading
I use Robinhood for my single stock holdings. Like Carnival Corp - 100 shares as a stockholder gets me $100 on board credit for each 7-day cruise. I do this annually (at least), so my return is PRETTY GOOD on this stock. Roughly $1000 in stock gets me $100+ each year. It is not my investment firm.
My guy, what? Acorns and M1 ARE NOT the same as Robinhood or CashApp. Have you ever used them? Look into M1 specifically.
Come on, be better.