What the rich don't do đ€Żđ€«
VloĆŸit
- Äas pĆidĂĄn 8. 08. 2022
- đč Watch the Erika Taught Me podcast to level up your life: erikakullberg.com/watch-podcast
đ°Get Free Stocks: erikakullberg.com/get-free-st...
âĄïž Download my Free Resources (Fine Print Hacks Guide, Passive Income Guide, Legal Guide, Net Worth Tracker): erikakullberg.com/get-free-do...
đJoin 4 million followers on Instagram to see my other money videos: / erikankullberg
NOTE: This description contains some affiliate links, meaning that I may earn a minimal commission if you click through and use these links (at no additional cost to you).
Disclaimer: I am not a financial advisor. Although I am a lawyer by profession, I am not your lawyer and no attorney-client relationship is established with you in any way. This video, and the ideas presented in it, are for entertainment purposes only and should not be construed as financial or legal advice.
Apparently there is an alternative universe where hard work is compensated.
Hard work shouldnât be compensate⊠effective work that benefits others should. Otherwise I could dig and fill in a hole over and over again in my backyard and be super rich. Harder work than most, but not very useful
â@@aedanacheson6148 the thing is, what is effective work?, is a chef that feeds 100s of people everyday less effective than an accountant?,
its a fractured dream, left in some, a remnant from better times, the memory of a glory future
Knowing how to spend your money is just as important as knowing how to earn it
â@@ar-yj8lb touchĂ©eee đ
Who the heck is actually getting bonuses and raises?!?! đ§đ€Ż
Believe me, some do!
We do in biotechnology. Itâs normal
Nurses
People that go above and beyond last year I made 50k this year I'll make 90k.
@@LuxeSciTech whats biotechnology. what do you do
Pretty much spot on. I know lots of people who cracked $100k and drive/live like they make $500kâŠ.and will never retire.
Right!That 's the point of the video, always live under your means and invest as soon as you can
don't you get pension from the government?
â@@dawnriddlera lot of the time time, you can't live of the government pension, in Germany the average expected pension is below 1100⏠a bit less in $
Happens all too often and sad that so many folks don't know better...or don't care! đź too busy trying to keep up with the Jones..
Oh they eventually retire, because the body wears out. My wifeâs parents spent everything they made. Expected us to help them out. Nope. Not doing it. Theyâre going to have to live within their means or run up credit cards. I donât care. Financially abusing us is not an option. Itâs disgusting to me that they think weâre supposed to pay their way now.
I earn more than 60k and I def ainât shopping at LV đ„Žđ like wuuutttttt
Exactly. Earn way more than 60x. Heck I could earn 1 million and Iâm not shopping at Lv.
Hey bro mind telling me what occupation you do?
HEY sorry but can you please share what work/occupation you do?
And y?
Working in corporate roles, most jobs pay more than $60k a year + some kind of bonus.
In big cities you can't even live on less than $80k a year (and having a 2 income household). However, this 2023/2024 job market is wild. I've seen people go from making $200- $300k +. (architects, project managers and a lot of tech employees) to being unemployed with severance and now the market is saturated with more job seekers than jobs. I feel for everyone affected. I can only imagine the feeling of having car payments, mortgages and student loan debt and having a job loss for no fault of theirs.
Side note: I would never buy a name brand purse, sun glasses, shoes etc. never saw the point in it. Knock offs at the swap meet or discounted at ross are cheaper and work just fine lol.
1.2m house on a 150k salary. Thatâs a fân stretch.
How?
@@whodafookisdatguy7659 because math. And taxes
Not at all⊠very possible
@@trugambit7484 no itâs not possible. Math is math my guy
Omg tell me you dont know how mortgages work without telling me
"Don't be dumb" is solid advice in all areas of life.
my advice to every one...
Lmao right!
not all
on god
I currently have 4500 shares of SCHD! My goal is 5k shares. This is my retirement plan!! My portfolio consists of 200 voo 200 vug 150 vgt 4500 SCHD! Is the future bright or not?
Bother less and enjoy the time you have left.
the size of your retirement portfolio will overwhelmingly be a function of the performance of the stock and bond markets between now and when you start withdrawing from it.
You need a third party to help you out. A financial planner or accountant can run through your figures, including your projected income and expenditures when you retire, along with your retirement goals, your emergency fund and any other strategies you need to put in place for such things as long-term care.
@@Jennapeters144 Who are you working with please?
@@ivymaddison LOREN LENA WALKER, advanced lady in 60s or 70s and professional, reserach if you care for supervision.
I love how whenever she gets a bonus, all she says is "Yes, thanks, boss"
The rich don't work for others..
*Drops Mic*
Ok Herbalife reseller
Ok employee for life
cringe
@@miqaelmiqael2676 fr
ayoo woww
If I was a millionaire, I'd still buy a normal house and car. There's no point to having a mansion and all that space for only yourself or a couple others.
And thatâs why the right stay rich they wonât buy a fancy car or fancy house because itâs fancy theyâd buy it because they can write off itâs a tax break but us poor folk donât know what so this is how we think
So true. Like whats it for?
Personally Iâd buy a luxurious apartment not really interested in designer bags or accessories they are absolutely useless instead Iâd buy REAL gold or accessories that I design
If your in your 30s you should be retiring with at least 1.5 million to live a normal life. Taxes and everything else will be outrageous.
@@sassyqueen9739 some designer bags go up in value far more than gold.
As much as I wouldnât spend a lot on luxury items or a cold maze advertised as a home, there is nothing wrong with spending money on experiences. Iâm living life rn constantly worried about my next paycheck and stressing to the point where i donât leave my house unless itâs for work reasons or doctorâs appointments. Life isnât meant to be lived like that.
Yes prepare in case something happens but also donât forget to let yourself experience things with your loved ones.
With bonds overpriced, gold overpriced, real estate overpriced, the only place I found wise to put money is the stock market because from my experience itâs paid off more than any other investment Iâve gotten into.
Virtually everything is overly priced. I'm livid as to what to put money into that can bring me returns. I live paycheck to paycheck and I'm looking to have all that changed this year, as I want to have money work for me instead. Would you be kind enough to share your process?
Herman Jonas is the brain behind my success. I've gotten into a plethora of assets with $43k spread across stocks (options and futures) for the short term and Roth IRA, index funds, and ETFs, for the long term. Now I sit back, and just reinvest at intervals while I handle my other businesses.
Do not forget that prices can be erratic, rising and declining quickly, often in relation to companies' policies, which individual investors do not influence.
Hello, how can I reach him, please? I need help with investing.
I appreciate the feedback. I reached out to him via the mail you provided and we talked at length. I found him to be verified. Iâm glad that I signed up and I've begun my journey with him. Thanks again.
Iâd rather go on vacations when Iâm young than when I need a cane to walk, but you do youđ
Yes
Innit
So tru
Should do both, still enjoy your life but focus on building net worth so you donât have to work a job when you need a cane to walk.
she meant to invest at the same time
get money
-> spend money
-> make more money by investing
no loss.
"Your starting salary is $60K!"
As a college student, I would have used what I made to pay for my tuition in full.
And that would be your mistake. Take the cash, invest in real estate, and with the return you can pay off debt and your mortgage.
Purchase assets to pay off your liabilities
Same eating is for the weak anywayđđ©
D
I made this much last year in CA, I donât shop much and I still canât keep the money. Sad
I made 75k in CA - this is a poverty wage in California sadly
My father would always say âits more fun to travel the world at 40 with money than at 20 with a credit cardâ.
Your father is đŻ % right
Facts
Right I been there you go places on a budget or you go where you spend the least amount of money and you say to yourself ânext time we coming back with a lil more money to eat at the best placesâ been there and then you never go back đ
I used to think like this, until a doctor told me that I had a heart condition and I was about to die, they discovered it by random chance after an EKG. I had a pacemaker fitted at 30. If I hadnt had it fitted I would have died in months.
I now enjoy the money I have responsibly. Dont think you have assured your life until old age. Do save, do invest but it is more important to enjoy life when you are young.
I rather have stories to tell when I am old than regrets
All I ever hear is "sorry there is no budget for a raise this year" and "sorry the position has been filled" xD
"The rich" don't have to worry about spending on houses and vacations. This is more about middle class people trying to be aspirational, which is a problem. You won't get or be rich on $150k salary. Maybe upper middle class
To most people a 150k salary is rich.
to the average person a 150k salary is considered rich, weâre not talking billionares here, theyre out of reach and it doesnt make sense to compare regular people to the ultra rich. in every day society, 150k a year is definitely rich.
Sad how the middle class basically thinning out and most are making "working" class pay and smth like 150k/year is considered rich
You definitely should not buy a 1 million dollar plus home on a 150k salary. That's nuts
@@Emma-kt6ju maybe by perspective, but these kinds of purchases outweigh the salary she gave
Be your own boss. Thatâs all I hear
Being your own Boss does not mean you will make, save or have a lot of money.
These are great points⊠self control and what you let yourself be influenced onâŠ
Itâs important to save, but also important to treat yourself sometimes
Right. It's all about the way you manage it tho
The way I see it. It's important to treat yourself to maintain your sanity not because one feels that it's been too long since they treated themselves.
Sheâs acting like career mobility and the American dream still exist đ€Ł
We voted for this abomination
It does for many people especially in tech, and the medical field.
@@seanthe100 I work in tech. Thatâs just not true for a majority of people who work in tech.
How does career mobility not exist? Quit being lazy.
@@Captain_Olimar wtf do you mean you "work in tech"? What's your job title? Career mobility and American dream ABSOLUTELY still exist. You just gotta get into something that's hard and not many people have the discipline to complete. If you have a degree in computer science, you can literally make $100k+ right out of college. If you aren't making that, you're doing it wrong. I only have a BA in Business. I work as a lead financial analyst. I make $160k a year. I'm waiting for house prices to drop some more before buying. Probably next year. There literally are thousands of people like me at my company. Career mobility AND American dream being achieved daily. I call cap on your bs "I work in tech" story. Gtfoh
Getting a $1 raise this year đ
This scenario is so alien to me!
Yeah, Walgreens would legit do $3 raises or something
If your raise isn't at least inflation they are lowering your salary
Hope that's hourly, not salary. A $1/hr raise for full time is $2080/yr. When I worked for minimum wage, I'd have been thrilled with a $1/hr raise. My first raise was like 26 cents/hr. $1/hr for someone making $20/hr is a 5% raise.
Itâs sad how people spend beyond their means and never knew the importance of being frugal.
the importance, definitely, but also the joy of it. I realize, if you're very low income, it's not necessarily possible to cut back expenses even more; you may already have cut them back about as far as you can go, and even if you can a bit, it may be miserable relative to the amount you save by doing so. but for someone making a moderate or above income, and especially someone making a high income, it can be extremely gratifying to spend less money, and thus, become less consumeristic. so many people don't even realize how much money they fritter away on things that, after they become a habit, stop bringing any amount of joy, and instead, it becomes a source of discomfort to forego them. But by keeping those experiences rare, they maintain their allure. No matter what experience you currently love but can rarely afford, if your income increased and you could afford it much more regularly, you would stop loving it and soon just like it. And then you might not enjoy it much at all. Money can buy moments of joy, but it can't buy perpetual joy. Joy is inherently impermanent. The more often a source of joy is experienced, the less joy it produces. So much of lifestyle inflation stems from the desire to recreate that sense of joy. But once something becomes commonplace, you need something more to create it, and 'more' inevitably means 'more money'. Happiness comes not from having more, but wanting less. Needs are needs, and it's no fun to not be able to afford basic necessities. And being able to afford the occasional want can create happiness. But beyond that, more money does not lead to more happiness. You've just adjusted your scale of what it takes to feel joy.
No point in taking money to the grave, spend it while you can.
It doesn't help when someone who would like to save their money is surrounded by people who are quick to spend. We have a natural need for fellowship and connection, and we make do with whatever we have. Especially if we are treated better than we used to be by others. So like Nady said... why don't you condescend less and reach out more?
I saw an interview from a woman who lived her life reasonably, planning and saving for her future, got to retire at 65, and within a year had to return to work because her savings weren't enough to support even her modest lifestyle due to inflation.
I'm not saying don't save/invest some money, but don't limit yourself from nice things just for an imaginary future that might not matter if you die early or if inflation pulls all your savings out from under you.
My moms boyfriend is planning to retire at 40, heâs 30 â ïž legit heâs gonna make her and himself so broke đ„Č
I don't know if this is a US thing. In Germany people who retire will have salary every month and it's definitely enough to live without any savings. Having saving is a bonus. And don't even worry about hospital bill when you get old because it's also free. It's so strange that the salary in the US is always higher, tax is lower yet people in the US keep complaining about how broke they are and how they have to live miserably just to retire peacefully. Can you guys just enjoy life while it last?
In the US you should have at least $2K a month in pension, or better never work and live on welfare
â@@minhmeo5010 it is US thing, it baffles me how ppl want to live there. The thing why they are broke with high salaries and low tax is that they don't have many things provided by the country. I live in Europe so I'll talk about differences compared to here. Our health care is free, except for certain medicine that you have to pay, and treatment of very serious diseases. We can actually drink our tap water and our electricity and water bills are lower(not completely sure about this), prices for food are better alined with quality(which is much better too). And ofc we don't have to safe to retire, you have age limit to which you work normally, you can work over it tho, and you also have required number of years you have to work after which you can retire. Our retirement is paid as you already said, so we don't have to worry about putting money aside for when we can't work anymore. There's a few other things, but I think there are the main ones.
â@@sladjanamarkovic8704 people want to flip burger and make $30/hr
That's the real reason
âYour salary is 150Kâ
âThis is the *ONE MILLION* dollar house Iâve always wanted!â
âYour house costs *1.2M* dollars.â
Well, it's not two million is it
I made it 69 likes đ
Who says "this is exactly the 1.2 million dollar house I've always wanted" ???
@@Roufguy sus
@@bananasunshine I never said 1.2M I said 1M.
She aged 50 years within 27 years. That money was going up her nose.
đđ
Iâm not trying to be mean, but she starts at like 21 to get a job
thats called no self control, every gen has to have it.
If the only way to afford to retire, even if you have a very well-paying job, is to sit on everything you earn and never use it for anything that makes you happy (which is what money is supposed to be for), then the system is broken.
right... somehow retirement doesn't seem like a fun goal. I would rather live while I'm young instead of barely scrape by when I'm old because i was foolish enough to just "save" my money with cobwebs on it, and now your money saved is not worth anything it used to be because of inflation. lmfao.
Let us not forget most, if not all, of the money people paid into the social security fund most of their working career has recently been stolen by their government. The fed is bankrupt and they're robbing the people just to stay afloat.
@@1984watchr this isnt realistic. Saving doesnt mean letting your money sit in a savings account never accruing interest. Put a decent amount of money into your 401k or other retirement account consistently every year and after 30+ years the returns will far outpace inflation. Most millionaires got there from their 401ks and the majority werent making hundreds of thousands every year
@@bbeidleman true.. but alot of people also lost everything they had trying to become millionaires by bad investments. To each their own. You can't take it with you... we all end up one day dead, so why not live while you can? At least look for a balance. The most "wealthy" are sometimes actually the most stingy and miserable.
Money doesnât buy happiness thatâs a misconception youâre living by if using money to attain happiness is the only way you live then the way you view life is broken in my opinion
Nobody working a 60k job gets a 20k raise for exceeding expectations
Lol almost a 35% raise...not a chance
Why not? This is easily possible in engineering fields.
@@darkopz engineering is for the upper echelon of intellects. Us ânormal folksâ do not possess such an in-demand skill.
@@darkopz If your worth to a company is 60k unless something dramatic happens not just exceeding expectations you are not getting a 20k raise unless you threaten to quit. If you start at 60k youâd be lucky to get a 10k raise
It wasn't a raise...it was bonus
Iâll see her smile in my sleep đ
Erica is brilliant, and that's why I follow her.
$150k is not sufficient to buy a million dollar house.
Very true.
Not even close đ Our household income is $145k and our house was $320k. Wouldnât want to go any more than $400k on a $150k income.
Yes it is lol, my dad is on 80k and had a 5 houses he lets for under 2k per month and we lived in a house worth 2.4 (they still live there, I donât)
You need at least $300k!
@@jasondong9721 I literally just thinking this!
Rich people don't say "thanks boss"
They say *I am the boss*
**Dame Dash has entered the chat**
Not all rich people are entrepreneurs. Some have professional jobs and made wise investments. Stop with the get rich quickly philosophy.
@@HM-yr1vr Yeah my comment was a joke đ€Ł
The video was about the average Joe. These are things rich people don't do, but the average worker does.
@@HM-yr1vr I made 318 big ones last year, and I just turned 30 recently. I didnât go to college. Iâm a small business owner. I dislike the word entrepreneur bcuz it has âget rich quickâ vibes, but yeah, entrepreneurship IS the way to go tho
This is a great lesson. I always fall into the trap of the small everyday items thinking Iâll be ok itâs not a big ticket item, but yet find myself slipping into the same problems as what sheâs saying here.
The rich have their money work for them and they live off the interest.
I hear you, I'm the same way. I think we just need to surround ourselves with people who seek fellowship by playing games and watching movies at home together more, or something. Not never go out, but just not so often. Maybe there's a Wii game group in the local area.
Bro this is my life. I wish I followed Erika 15 years ago.
Could always sell that house - should have some equity built up
Look at you trying to sound sophisticated đđđ
@@FBi_. not sophisticated, itâs just common sense.
@@FBi_. big word for dumb brain
@@FBi_. no way youâre trying to sound smarter
She was probably still paying off the mortgage to be honest. And those property taxes yikes!
Depending on the market and if she kept up with renovations it probably wouldnât get her, her money back.
Most unrealistic part : her salary is increasing without switching companies.
First mistake was the purse!
Woman: âI never investedâ
Also woman: âbought a 1.2 mil houseâ
right? over 20 years that 1.2 million house is probably worth 3-4 million or more, sell it, downsize, retire, boom
@@jessicadrury5450 My thought exactly.
Your personal home is not an asset. How much money does it make you in your pocket a month? Positive or negative cash flow? Assets have positive cash flow, your personal home is not an asset, it is a liability (unless you rent out a few rooms or something like that)
@@aedanacheson6148 I'm pretty sure it is an asset. Imagine paying the rent instead. And it is one of the rare things that you can probably sell for more than you payed for it.
@@aedanacheson6148 Your home is an asset in that it is something you own that you can sell at a later time.
Just because an investment produces negative cash flows in the short run doesn't mean it won't result in a positive return in the long run (or else the venture capital industry would never exist).
Furthermore, something does not need to produce cash flows, or even have a positive return, in order to be considered an asset (e.g., cars generally have negative cash flows and a negative long term return, but are nonetheless considered assets).
At 75: "Get me a Gucci ventilator"
Gucci? *Scoffs* I only use
Versace ventilators
@@afailedabortion Na i only use a Louis Vuitton one
Sounds like the average life of a professional sports athlete
Lifestyle inflation will KILL you. I recently received a huge promotion in my career and my current boss asked if I was going to buy a big expensive house ( he is taking out of his 401k to buy a huge expensive home)- I was like⊠no. I said I thought about buying a duplex and house hacking to build assets but real estate isnât always a smart choice. He was like, almost disgusted at the idea of having to live next to someone else! I have always lived very modestly, I didnât come from money, and I donât need fancy things. I will take the security for the rest of my life over luxury or flashing to feel something. I do splurge on things like perfume, or clothes here and there- but having assets over liabilities for me is essential to living a stress free and happy life
Such a good message!! My parents preached, "It is not how much you make, but what you do with it that makes the difference!!" Always pay yourself first!! #Saveandinvestforyourfuture!! #Delayedgratificationisagoodthing
Girl I just wanna be able to pay my rent and get Taco Bell once a week đ *cries in customer service*
upgrade your skills! see if you can get a CS role in tech. CS reps often can transition into account manager or even product roles which are way more lucrative. you can do it! just make a plan
Just transition to CSM in tech. The ones at the company I work at make $80k/yr base.
@@peej.w7598 can you tell me how to do that plz?
@@peej.w7598 whatâs the m stand for?
â@@nottheone582 do you realise that we need customer service? Why are jobs like this not paid better? Dont you think every worker should be able to afford basic living?
Omg letâs talk abt how much this gurl pretty slayyy ur rlly pretty đđ
With $150k salary, 800k home is already a stretch
Me: WHERE CAN I FIND THIS JOB-
Fr starting salary at 60k?!! Or is that normal in America and here in the UK the average salary is 40k and with tax you end up with 30k a year đđ
@@saesar_ah guess it depends where you work. I work in retail and make $20k a year but Iâm also making $15/hr
minimum wage here is $9.89 or something like that.
@@momentsformoms9467 definitely does
Depends on the job, if you wanted a physical job you can work for the rail road and make $80k starting with no experience and a sign on bonus. Or you can work in tech and depending on the position and industry you can make $75k-$85k starting and work from home. It all depends on the job you want!
As an engineer
You got those raises and promotions because you're the boss' twin sister.
Omfg this comment đđđđ
Highly possible; no wonder the boss hired the employee from starting 60k salary from the start, then promotions in a short amount of time.
And lover.
This is why having a life partner is important.
150k salary with a 1.2 mil house- so realistic đ
Don't worry the vast majority of people watching this will never have to worry about this.
Like you
nothingâs forever
đ
Actually, her example was pretty extreme- but even just making 30k to 40k you need to have this mentality in mind. You can be struggling at 30k, make an extra 40k with a new job and buy a bigger house, nicer car, better phone, and suddently you realize you still have no money left after your bills. Everybody should aime for a living situation where if you lost 25% off your yearly salary, you could still float.
You never know when your gonna leave this world, Iâd rather live my life by going out , enjoying vacations and buying a dream home rather then saving money so I can retire at 60 when Iâm already old and canât enjoy life like I could at 30
yup! I say this every day.
This is also true, not that I'm suggesting to spend beyond means and go bankrupt. But when you're spending, spend well and enjoy life. Do some charity. Think well and do well.
True, but you don't want to work all your life either because you can't afford retirement :/ it's all about balancing things after all
@@gggggg-hs2tk people are also forgetting that older people don't really need that much money to live comfortably. My grandma lives on 300 lv a month and she's perfectly happy with what she's got - she grows most of her food in our garden because she has enough time to and tbh she doesn't spend that much money on anything else because she has collected it thru the years.
@@user-rr8yi9zg2k exactly! That's how most of my elders live too, also the food they grow is the BEST. I don't want to seem inconsistent there so I'll clarify one thing: I've always distinguished working for a salary from working when retired because you have nothing else to dođ
Wow that was really good at driving the point!
60k seems like a reasonable salary, but not these days. I live paycheck to paycheck and have zero savings. I admittedly am horrible with money, but idk how to fix it.
Million dollar house on 150k lol!
Houses are expensive. We earn way less for a house with that amount of money đ€·đŸââïž nothing surprising about it actually đ€
@@MunchMaila a fool is born every day
Yes,you can.. I don't know about that place's interest rate. But you can have it on EMI for 20-25 years. That's why she has many bills to pay after years..
@@FredDogification we don't live in the same country. Presumptuous of you to think we do
@erika The last background image you used was actually created by me and my team and we had uploaded it to royalty free platforms for wider reach. Startup didn't work quite well though, but now feeling proud that it's accepted Globally by influencers like you. Thanks.
Huh, very interesting
The ghost is literally an appreciating asset
"You have exceeded expectations! This is your mother's obituary as a bonus!"
"Yes! Thanks Boss!"
Point of it all : High income earners can live paycheck to paycheck too.
I do the opposite, I continue to increase my income while still figuring out way to decrease my current expenses
@@leeg5678 u can only decrease your expenses to a certain limit, for example until it affects your necessities.
@@Mewzyc need, house, transportation, food, utilities. Bring down expenses where u are only paying utilities or buy another house :)
The rich are cheap.
@@leeg5678 Hi. Would you like to train me in budgeting please I beg of youđđđđ
I did that and suffered a stroke. Now I realize my expenditure mistakes. Life is better to be lived down to earth.
Yup
"Mo Money, Mo Problems"
~Notorious B.I.G.
I'm buying the nicest small home to fit my needs, not a goddamn mansion
You just got a job for 60k why are you buying a LV purse- đ
Right?? 60k and Iâm still living on a strict budget
Bro who tf be buying 3k bags with a 60k salary đ
Debt is slavery....yet people still won't ever see that until well into their old age.
But she has no regrets, she lived her life to the fullest! You find a way to make it work in the end
Not really, you wonât be saying this if u had a bad back and barely working body
@@ashleylove6840 Well now the question becomes: would you rather live your life while youre young and healthy, or make some sacrifices to save money in case you ever go ill?
Spoken like a broke ass
@@smoaktree the equity on the home wouldn't be that bad.
@@smoaktree When you're young and healthy is when you do make those sacrifices granted not a lot of then, but it's easier to bounce back and recover with mistakes when you're younger and build for your future while enjoying today. You lose that chance the older you get, because not only is it harder to make mistakes, it's harder to take chances with the biases of older people in the work force, all while your body is giving up on you.
"how much do you want to smile?"
Her : *yes*
Pensions left the chat-
That's lifestyle inflation đđđđđ
Youâre right, actually. The rich donât do all these things. In particular, they donât work.
Nah âthe Richâ are already aware of what their supposed to do, they make sure to invest it or save it and even if they piss it all away, they always have a trust fund or something to fall back on
The really rich also spends a lot. Do you think NBA super stars live in a poor ass apartment with a car that is 20 years old? It is not about spending or save, its how you spend relative to how much you earn. If you earn 20 million a year, a million dollar stuff is nothing to you. but if you spend like Allen Iverson, you be bankrupt. do not overleveraged
"the rich" with no one helping to take care of their finance will be bankrupt too. Too many NBA players blew it off.
disagree. My husband didnât have a trust fund.
And thatâs on financial education đ never spend what you make. Save or invest.
When the video say rich? This lady is not rich lol. It just poor
Boss be like: Why is she always running
I love your videos, theyâre helpful even for someone in their 50âs.
For 15 years now, every raise Iâve received goes right into retirement. Iâm relieved Iâm doing something right.
As someone who just started the working world, I realized you don't really have money. You have bills. You can't spend carelessly either, When I was budgeting I realized that although my expenses are super cheap for living in a big city, I can't constantly shop on Amazon, Shein and go out to eat frequently and spending money on expensive clothes. LOL to the younger me who use to hear people getting what I thought was a lot of money, only to get the same amount and be budgeting like crazy.
This is the result of inflation
$1M+ house on $150k/year? I'm cracking tf up over here.
Respect for that RPN calculator.
Plot twist, its not life style inflation, just regular inflation
Living in a camper full time now. Wish I never "invested" in real estate
Bro what happened?
i hope for the best in terms of finances for you
What did you invest in?
@@queenjohnson5097 had a place in Phoenix in 2008. Bad timing. Lol
@@gabrielutasi how so?
How much 'smileâ do i want in this video
Her- yes
âLifestyle inflationâ I love it đ
I loved the HP 12c Platinum cameo!
When I worked for an Apple-affiliate company I learned from coworkers who had been at the company for 5-8 years that they rarely do raises. One of them said theyâve never got a raise in 5 years, and one said he got a 5Âą raise once. This was back in the 2010s.
When youâre 12 and your dad already ready to teach you about finance, tax, insurance and investment đ
Same here, but the only thing is I'm actually interested
I mean it's pretty simple stuff, every 12 year old should know about basic finance.
@@bridgettepierce7144 well there goes the thought that Iâm smart :>
Be glad. Mine didn't and now I'm teaching myself not knowing if I'm learning correctly
I feel like I'm in a Colgate commercial
Thatâs like upper middle class or lower upper class, all the really rich people stay really rich and can chill.
That's something I've spent decades trying to tell people. Stay living modestly and put the money away before you can spend it. But no body listens.
"Live like you're poor, invest like you're rich"
-Me, 2022
I actually regretted building a huge house.. now i dream of coming home to a small cozy house where cleaning is not always my top priority 24/7.
Sell the house
@@Solololo Yes...what's the problem?...sell the house and downsize!
A real estate Tiktok defined house poor. It is where you get a house you can afford but then canât afford to maintain. Iâm energy poor. I need a small house for the energy I have to clean it.
@@bettywith2girls I definitely plan on selling the house one day but i have to convince my husband to move since he loves the location and size of the lot where he can store all the junk from construction.
Same, but I want this to be our forever family home to raise our kids in, and one day pass it on them.
You canât afford a $1.2million house when you make $160k.
I've got some bad news for you guys. Rich people who invest also like to spend money. The only difference is, they might spend a little less compared to people who never invest.
I work with folks in CA and I never saw a $60k salary. $150k is a starting salary for most computer engineers there. But then again, their rent and daily expenses are just crazy.
As a teacher with experience you get 60k in some states
She did invest. In experiences, a house and her dreams. I wouldnât call that a loss. The problem is with our society that makes true retirement unachievable .
Investing in a house without up keep is a loss not a gain.
Owning a million dollar house halfway through your career is the definition of a retirement plan, even if it's not officially a 401k/IRA
This is so accurate.
Meh, Iâd rather enjoy life while Iâm young. Much harder to enjoy life once your body starts giving up.
Important point: you wonât be able to live while your older when the medical bills hit. That youâre faced with burdening your family with your bad decisions. Donât do that.
@@tiffariff thankfully I have no intention of pursuing a family. I also have no intention of being a burden, but even if I somehow am, I have a wonderful family who wouldnât dare to view one of their own as a burden. I donât expect to live for multiple people, only myself. When I die, my things go to charity.
@@raymondfowler6380 by the sounds of it you won't have many things to show for it. very foolish
@@nottheone582 not everyone wants kids or to continue a family in any way. Lol. I'm 23 making 250k/year. I'm using all of it and having fun with life. Otherwise you're just living in hell twice. I suppose I'm fortunate enough to be able to spend on "fun" and also have enough to save for the future. But honestly, if I was making less, I would still have fun with it. There's nothing for us beyond this world. Atleast, nothing that concerns money. You gotta use it while you can.
It takes less fun to enjoy life more when youre 60, i think. Im not yet there but from what i see when i party in Asian cities is that the younger guys are not having as much fun as the 50+.
150k/year!??
That's not the much bro
No surprise she's still paying of the 1.2 mil house
đ€Šââïžđ€Šââïžđ€Šââïž
You're DELUSIONAL if you think making 150k a year isn't much! That's 12.500$ a month! In Germany making 3k after tax monthly is considered well above average. Not even doctors make 10k a month easily. What kind of standards do you think are normal?
@@sebart9321 same for me. And I live in Switzerland. One of the richest countries in the world. 150k is a lot
Disconnected from reality huh?
Retired young. Voluntary simplicity and compounded interest worked wonders. Bought a small but beautiful home with some land. Paid off the mortgage early.
I feel personally attacked
Yes literally since Iâve increased my salary Iâm still on a very strict budget. Like I donât wanna even furnish my place lol I rather put that towards my 401k or savings for a down payment for a mortgage