Climbing The Wealth Ladder (6 Levels of Wealth)
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- čas přidán 28. 07. 2024
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If you haven't figured it out yet, this channel is about helping you become the best version of your financial self possible.
That focus has primarily been on building streams of income along with moving your wealth needle as much as possible in a positive direction.
This channel is not about saving $2.74 a month by turning down the thermostat 2 degrees or turning your ceiling fan on reverse to save money on the heating bill. (Yes, these are real recommendations from financial influencers with very large audiences)
So in today's video, I wanted to touch on the 6 levels of wealth for you your financial and wealth-building Journey.
I highly recommend that you stay to the end of the video, but if you've been watching this channel for an extended period of time you already know to do that.
Click the like button because this video will be very enlightening I promise. Let’s get into it!
Nick's article here: ofdollarsanddata.com/climbing...
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Instrumental Produced By "iAmHaywood" on IG
⏰ Timestamps ⏰:
0:00 - Intro
1:00 - Wealth Ladder Chart Intro
2:11 - Wealth Level 1
2:48 - Wealth Level 2
3:27 - Wealth Level 3
4:32 - Wealth Level 4
5:45 - Policygenius Spot
6:53 - Wealth Level 5
7:40 - Wealth Level 6
10:30 - LOL
ABOUT ME 👇
My mission is to provide my viewers with actionable content that enables them to create financial wealth. My videos are a reflection of my real-world experience as a real estate investor, stock market investor, student of finance, and entrepreneur.
This channel allows me to share my passion for personal finance, stock market investing, real estate investing, and entrepreneurship. I produce content that I would want to watch, and because of that, I give 100% effort in every video that I make. I also believe in complete transparency and open communication with my audience.
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DISCLAIMER: I am not a financial adviser. These videos are for educational purposes only. Investing of any kind involves risk. While it is possible to minimize risk, your investments are solely your responsibility. It is imperative that you conduct your own research. I am merely sharing my opinion with no guarantee of gains or losses on investments.
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"Nothing worse than a person that has never been anywhere with an opinion on everything" Totally agree!
I agree! That's why it's always important that we do our personal research and studies, as opinions may likely to circumvent our goals.
As someone who lives in an area with a lot of tourists, mostly they're just smug and locals detest them. I don't get why people think they are high and mighty for paying thousands of $ to visit a place. Be grateful that you can but it doesn't make you any better/smarter than anyone else.
@@michaeldillman1660
You hit the nail on the head. He’s just rubbing it in on people that can’t afford to travel.
Philanthropy is also way off. You don’t need to be super rich to donate time and money to local charities that impact peoples lives.
I would really encourage anyone to watch the channel, “Invisible People” on CZcams. It really changes your perspective.
@@harryallenpearce89 Most tourists don't even get any kind of cultural experience. They sit at a hotel/resort or go to tourist traps that are literally designed to scam them for Americanized food and experiences. Most """ travelers""" are just Instagram-obsessed narcissists.
YES! 100%
"True travel is having a 7%-15% chance of getting robbed or kidnapped"
- Marko
🤣that's incredible
Man I swear Marko is funny 🤣
@@jeffbarrett791 yes plenty of areas in America where the democRATic party ruins the place
Most big cities in America you can get robbed and kidnapped without leaving your block.
🤣
“This channel is not about saving $2.74 a month by turning down the thermostat” 😂 Love your videos!
True story
Shots fired
Lol thst was great stuff.lol
Soon you will be forced to turn down your thermostat.
I actually have an idea of who he's talking about 🤭
I love your calm approach to this topic. I know living a healthy lifestyle and travel requires having your finances in check also. I've been able to find ways to make passive income to be able to live comfortably.
Hello Marcella, how are able to do it? I'm also looking for other ways to get some extra money.
@@emmanuelameyer3344 it's not strange that learning the rudiments of investing can be somewhat difficult, that's why I work with Levi Clemans, a seasoned trade analyst who has made me resounding profit from trading stocks. You can get across to him
Here, Levi Clemans’info
on his webpage to get acquainted with his services.
@@marcellafuentes7067 Just ran through his portfolio online and I'm pleased with what I see. Wrote him and awaiting his response.
I personally lost money countless times trying to trade and build my portfolio not till I came across recommendations of Levi. He’s been at the helm of my trades lately.
@@marcellafuentes7067 This is great. I’ve come across several comments on Clemans. As a noob, I’d want nothing more than to expert help even if I hope to pay for it. Thanks for looking out for others!
I'm a Florida man that spent 6 years (middle and high school) living overseas in turkey and Marshall Islands. Now your have to respect my opinion! 😂 Here's my unpopular opinion about philanthropy: by and large giving away money doesn't really change anything. Lasting change mostly comes through relationship.
Look at Haiti. Money is a quick fix bandaid solution but relationship is where true and lasting change occurs. Your greatest asset is human capital aka relationships with people.
Couple things: you don't straight give cash. You build infrastructure and programs (and hopefully you are paying experts to help you do this efficiently). Also, your mileage will vary based on the corruption index. You probably want to focus on sectors and/or countries that are not going to abuse your aid unless you are working with some incredibly knowledgeable philanthropic organizations.
Giving money can and does help. It depends on the charity and the cause. One of the charities I have in my will is a charity that does eye operations on people in low income countries. Simple surgery for cataracts and other things like that. Giving someone the ability to see is pretty life changing. You can't help the entire world but you can help SOMEONE'S world. I hope you see what I mean.
@@neolithic3 yeah I totally agree with you. My point is more that we often throw money at big issues like poverty thinking it will help and it doesn't. Whereas there are issues in our own neighborhoods that can really only be solved through relationship.
@@pinned_byprsundar791 BTC is the future of crypto and the question most people ask themselves is - if this the right time to invest ? I feel those who would allow the market dynamism to determine when to trade or not are either new in this space in general or probably just naive, the sphere have far worse times than this enlightened traders continue to make good use of the dip and Pump even acquiring more equities towards trading , since it is way profitable than holding. Trading went smooth for me as I was able to raise over 9BTC when I started at 2.5BTC in just 5 weeks of implementing trades with signals and insights from Josh Emily Greg... I would advice you all to trade your asset rather than hold for a future you aren't sure about ....
@@caramelbrandon4988 I wanted to trade Crypto but got discouraged by the fluctuations in price. lol
At level 3 at 26 years old hoping to get to level 4 in the next 10 years!
*Everything reeks inflation in the economy.... I don't know who, however a person desires to pay attention to this, you have to stop relying on the government and saving all of your money . Venture into making an investment a few in case you actually want monetary freedom*
@Jessica Bailey I agree with you and I believe that the secret to financial stability is having the right investment ideas to enable you earn more money, I don’t know who agrees with me but either way I recommend either real estate or crypto and stocks.
After what has unfolded in 2020 I no longer view btc as speculation. more so an inevitability. Even if it takes 10 years to get $100k that would mean the average rate of return with a daily $100. Over a year is 100% what asset class out there today offer that type of opportunity?
That won't bother you if you trade with a professional like Steve Mcgarry my coach, you may have come across him on a few interviews.
Steve Mcgarry? I recently started trading with him. I always heard that his strategies are really good and it’s turns out that I heard the truth. His trading strategies centers on making huge profits for Investors.💲💰
@Khloe Douglas *Based on investing acumen and strategy I will recommend Steve Mcgarry for you*
Watching from Honduras. Might get robbed later, travel freedom baby 😉
this is the way
Ugh. Everything there is corrupt. Even the humidity, mud, and mosquitoes.
Haha 😂 right I agree. So important to start young. I love dividends and teaching younger people how to invest.
I am in Level 2. But I had lobster and steak last night. 🤑
LOL My man
STEAK & LOBSTER, BABY!! Haha 🔥
Wealth is relative.
I traveled many many countries starting in my early 20's. My expenses were under $1,000/month. Increase your budget, you increase your comfort level. And a good amount is around $2,000/month.
When you do not have a J.O.B and you can make money online, you have freedom to do anything.
Even if you don't have online work, there are millions of ways to make money in a short period of time and then travel the world comfortably for a long time.
I had not needed to make over $100k or a million to do that.
I'm nowhere near the 100k mark, but I started traveling once I wasn't living paycheck to paycheck, and It's been a huge positive influence in my life. I'm at the grocery-freedom level, and can make still budget travel (hostels, etc), so it's still doable with a few sacrifices like skipping takeout meals, coffee, etc. Complete travel freedom is my goal ♥️
Travelling. Best decision of my life. ever. ever. ever
I try to plan a weeklong trip at least once a year. I think it's so important to make time for it while you are still young. I think these experiences are much more valuable now than they will be when I'm 50 or 60+.
As much as I'd like to retire early, I've began to see how much I value a work life balance rather than following FIRE and grinding out my 20s and 30s to barely get by when I retire early. I'm happy compromising a bit of the grind to enjoy what life has to offer while I'm still young.
Im not a fan of FIRE at all. Maybe I'll make a video about it
@@WhiteBoardFinance please do a video on FIRE. Curious to hear your perspective on it
@@WhiteBoardFinance would love to hear you rip into it considering a big part of it is being extremely frugal 😂
Wow! Thanks for your content man! You’re an inspiration to me, I’m an immigrant working my way up in this country, one of the reasons why my wife and I decided to move to the us was due to financial reasons, after 4 years living here we can see that making the American dream come true isn’t as easy as people say… you’re channel has helped us improve with your financial decisions, I hope your channel keeps growing and you keep reaching more people.
Best of luck!!
Rightly said! I also want to make huge profit on investment this year, any idea on how to archive this goal?
@@ericalorraine7943 I'll suggest you reach out to Christine Lynn Saitta, she's a real investing prodigy and has handled my investments for over 14 months now
It's fascinating to hear that someone here employ madam Christine's services. She has actually been managing my investment so well and my weekly return are mind blowing
A CNBC news host spoke so highly of💕Christine Lynn Saitta and her loss prevention strategies
This opened up a new way of tracking my net worth without leaning on the assets that aren’t actually readily available. Liquid net worth will be my new way of tracking my financial situation now!
I know people who traveled the world who are broke now. Others spent their money on education and are quite comfortable. Life is all about choices.
I’m level .5 living the level 4 way baby!
I know a lot of people who are at lvl 1 but live like they're lvl3. And also a lot of really nice people who are at lvl 2 but give away their money like they're lvl6.
Start your philanthropy at level 3 and you’ll accelerate your yield curve into levels 4 and above. The greatest feeling I’ve ever derived was knowing I’m not rich but I have enough to start impacting the lives of others. It’s made me richer as a human and has impacted my business positively beyond expectations.
I invest in my children. I consider that philanthropy
Marko, I have a disagree with your analogy about the farmer in Kansas with 4 millions. Just because a person has the money and is willing to travel the world does not mean they have more knowledge or their opinion holds more weight. The best things about this world can often be found right at home. This life is about family, friends, treating others with respect and being a good person. This is true across all cultures and people on planet earth. A person can understand these things without traveling the world and person who has traveled the world cannot understand these things. Not everyone desires to travel, sometimes they have everything they want at home. Just my opinion, thanks for making great videos.
I was thinking this as well. Just because you don't travel doesn't mean you haven't done anything. 4 million could turn into generational wealth if handled responsibly.
June and July here in Florida few years back. I could not figure out why it was warm in the living space. Until my sister came over and says. Is your fan in reverse lol
Don't wait until you have one hundred million dollars to be generous. By that metric, most will miss out on the blessing of helping others. Don't think you need to start the next Gates foundation before you help people who are hungry. In reality, most Americans are far more wealthy than the majority of the world.
The notification said “6 Levels of Wealth” and I was hooked! Had to watch it.
Man I feel the restaurant one too, going places now on a weekend that my dad wouldn’t dream of taking us as a kid. It does hit different when you weren’t even allowed to order soda
Slow down, Marko I’m only at premium-gasoline-for-my-Land-Cruiser freedom.
Thx for the channel bro. Been here since sep 2019 🤙 growing ever since.
legend haha
😆😆😆
Damn bro how are you not more famous? Way better than Meet Kevin
Thanks!
I stand with Novak!
There are too many people in step 1 and 2 that think the are in step 3, 4 or 5. Great break down. Financial freedom is what we all talk about but the real deal is that financial freedom buys TIME Freedom... which is the real goal.
"Real traveling is having a 7-15% chance of being robbed or kidnapped... Now were talking!" 😂
your not living till your 7 to 14 percent at risk of being robed or kidnapped... I love this guy, where do I sign up
Thank you for this, this is me any my wife goal...teaching our kids to be wealthy and to give a portion away to those in need.
Really so much value from this channel I can’t wait for you to reach 1 million subscribers and level 6 wealth! Also I’m at a level 3 and I’m still working on being a philanthropist, I feel like a percent of your income should be for helping no matter where you are on that ladder!
..💜Thanks for watching and comments, for more info and guidance, Hit me up direct 📩..
I know this isn't really on topic, but a great way to see the world cheap is to join the military. I spent 14 out of 21 years in the military living overseas; living there, not a package tour, cruise, etc. Miltary paid for it with housing allowance, cost of living allowance (COLA), etc. All I had to do is my job, same job I would have done in the CONUS. Only drawback is I could not take advantage of using housing allowance to pay a mortgage to build equity like many military do in the CONUS. I did invest almost all of my COLA, though, which is why I am in pretty good shape today.
I agree on the comment about travel. I see a lot of people who act like they know everything but the truth is they appear so "ignorant" compared to people that travel and learn other cultures.
And no, you don't have to be rich to be able to travel, only question is how bad do you want it and what sacrifices can you make to afford it.
Travel teaches you soooo much about how other people live and it can also teach you to be grateful and appreciative of what kind of life you have....
So many people in the comments didn't get Marko's point and you can tell it's the ones that don't travel
Be mindful about health. Stay healthy always and learn to invest. 😎
As someone who also couldn't go to restaurants as a child, I am loving life at this level, lol. Where my Level 3's at?!
Economic big trouble is coming.....dont waste money needlessly
You are a very underrated youtuber.
I appreciate that! I think I have one of the best finance channels on youtube, but unfortunately feel like the algorithm doesn't promote my videos.
Your channel is like fine wine, it gets better and better man. Keep it up and see you at the top with philanthropic freedom. Enjoy.
Restaurant Freedom! Working my way towards travel freedom. Great video Marko!
I guess we are a 4.3. Thanks and great thoughts!
Marko has come a long way, I remember when I started watching this channel when he only had 70k followers.
MEDIUM RARE GANG!! 👌🏽🔥🔥
GOOD Video; Everyone Needs More Than Thier Basic Salary To Be Financially Secured, The Best Thing To do With Your Money Is To Invest, Money Left In Savings Always End Up Used With No Returns.
Despite the economic downturn, I'm so happy. I have been earning $ 60,000 returns from my $ 7,000 investment every 14days.
How? Am a newbie in crypto investment, please can guide me through on how you made it.
Yes! The goal is to give it away! Same goal here. Thanks for sharing this.
*Peace and serenity is important and allowing others to have peace and serenity as well.*
All these need to be bumped up one! The yearly return of 100k would not support eating steaks and lobsters every night. The yearly returns of 1 mil would also not support being able to travel anywhere anytime vacations are expensive 😭
Join the military to travel (Air Force). Been to many places to count. Most of them for extended periods. Retirement and medical are good too.
Level 4s where you at!? :)
This is really great content. I love the fact that it is straight forward and simple (no flashy jarring video and music that I have seen on other videos on finance). I don't mind the ad in the middle, just as long as I get good info and value in watching this. Thanks, Marko!
I'm 18, and have really gained more interest in personal finance now that I'm going off to college and will be looking after my own finances. I'm so glad that I've found your channel because I now feel much more confident about how to handle money and build wealth going into adult life. A couple of months ago I barely new what investing was, and now I'm allocating a percentage of my part time job income into investing in the stock market.
In NY we call level 6 "F U Money". Answer to no one, do what you want, complete F U money.
Bonus level 7: getting sponsored by MANSCAPED!!!! Hell yeah! Oh and Also getting verified on Instagram! 😂 awesome video as usual. Take care
haha
YT finally recommending your vids to me again 🎉🥳
its a miracle lol
love the part about traveling outside the country for Americans!
Damn! New microphone!!! Great audio. 👍
Yep the end is the best part
Haha. Love the honesty on the commercial
Looking good in the ralph lauren, Im not high enough on the ladder to buy $100 shirts yet though lol
Haha 😂 right I agree. So important to start young. I love dividends and teaching younger people how to invest.
I love your sense of humor man! Thanks for the informative vid, as always.
Marko out here puttin in work, going for that level 7 pushin P.
I live in California and have immigrant neighbors from every corner of the globe telling me how to live my American Life AND I have a 7-15% chance of getting mugged or stabbed where I live (guns have been outlawed..)...Does THIS count as being well traveled and wise like Marko?
“Turning ur celling fan in reverse to save money “ lol….
Currently at Level4. Have traveled to amazing places. From deserts of middle east to jungles on the banks of Amazon river in South America. Literally started the wealth journey with $5 in my pocket & have worked HARD for 30yrs to be here.
Hard doing what? Did it help people?
Thank you for your overview of financial freedom. I have always lived at the lower end ,but adapted by living a simple lifestyle. I fall between the grocery and restaurant freedom levels despite having a low wage job. I pay very little rent in a nice suburban community and only ow one car that is completely paid for. My commute to work is within five miles. Because I'm the only breadwinner, I need to cost down. All that said my family can definitely afford groceries and eating out when we like. It would be nice to afford our own home. I think that it won't happen until retirement as I will be able to liquify my investments by then. Do you have any advice for my fanily's situation.
..Hit me 👆 up for guidance and assistance..
I like this perspective. The only thing that bugged me is that I think being able to adequately save money should be a level of financial freedom, especially given that's what a large majority of Americans struggle with. I'm referring to not only a nest egg, but adequately funded retirement accounts and college savings accounts. Maybe this is somewhere between steps 3 and 4?
you're doing great Marco!!! you're the man!
Well, i was glad to hear i at least make it to level 3! 😅😅
Hey quick note long time watcher, this video is the reason why I follow aside from the great advice and the awesome whiteboard! Respect the mindset 💯
One of your best videos
I love how this man can make a whiteboard intresting.
the fact that Marko literal states that he is doesn't have a bazillion dollars and is transparent on what stage he is at really proves a lot of other "finance" creators on here are B.S. Marko you the Goat
Marko, you’re a very sharp guy for someone relatively young. I like the way you described the different categories and yes traveling does open the mind.
...Thanks for watching and comments 🚀, inbox📩 for more enquiry..
I’m in level 4 but being an immigrant myself I don’t order the more expensive items on the menu ( I eat out almost every day tho )
The end lol 😂😂
So what do you think about someone who lives in a home that is easy to afford and grows almost all the groceries they need (very cheap and organic) and limits resturants SO THAT they can travel a lot?
The levels are so accurate!!
Thanks for this educational video Marko!
Freaking Love you man
Great video! I appreciate all your advice.
The policy genius is genius!
When you say liquid do you mean money in the bank or in stock portfolios, and other investments?
So many gold nuggets here. Really like that 0.01% heuristic. One question I have is why stop at $100M? Is it a stop gap for you to start focusing on philanthropy? Often wealth creation comes from value. I think the absolute number is arbitrary, isn’t it the chase that is the matters more than the end result?
Like what if you started at $100M. Would your scale not just be shifted? I personally feel that after stage 4 it has less to do with specific numbers and more a feeling of your accomplishments. Philanthropy is one way to help others but there’s a lot of ways to help people. One could argue that people who create wealth often do it by providing value to others. I guess I would urge people to see it less of a destination and more as a continuum.
Bravo! Hats off Marko
Acting like I was at. level 4 has kept me as a level 1 but I'm grateful to have had my (horse) blinders taken off a bit.
when you says "liquid" networth, does that include brokage/roth ira money? somewhat liquid but not ideal
That's liquid yes. Illiquid is some real estate, things that are difficult to sell immediately.
I hit the like button in the first minute . Marko is the real deal.
That END 👏🏻👏🏻👏🏻💵💵💵💵😂😂👊🏻💯
Thanks wealth genious for letting Marko climb the wealth latter.
Dude spot on with these points....I love your comments on the travel freedom one. So right.
Thanks for watching!
Love the sense of humour. Thanks for the vid.
you are the best buddy
Your cander after the commercial alone was worth the upvote.
Great videos Marko - you mentioned that you are investing since you’re 18 years old and learned your lessons. It would be interesting to hear what those lessons were and how one evolves as an investor. What mistakes or learnings did you make along the way?
You mentioned net worth and liquid worth for the x axis amounts… which is it or how would you define that?
Great video! Love it!
Epic video 👍🏼🙌🏼❤️🙏🏽🎉thanks Marko !!
Level 4.5 = say what you want on your CZcams channel and still get paid 😎🔥
😆😆😆
I had a colleague who never been anywhere (50 years old, still living with parents) but always had an opinion on everything. The worst kind I must agree. Best regards Marko, sve najbolje 💪
I haven’t travelled, but I don’t go around spouting my views. It would have been wonderful to feel more financially secure as a student and young adult, and gone on some adventures. When your parents are just scraping by, you can’t take any risks. You stay home and get through school.
As someone who lives in an area with a lot of tourists, mostly they're just smug and locals detest them. I don't get why people think they are high and mighty for paying thousands of $ to visit a place and get intentionally Americanized food/experiences. Be grateful that you can travel but it doesn't make you any better/smarter/wiser than anyone else, it's just for your pleasure and that's okay!
Not good to stay in one place like a plant but I think too much travel can also be dangerous. All about moderation.
Marco! You cracking me up! Thank you for making your videos fun to watch! 😊