The 5 Money Lies That Keep Americans Poor
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Top Comments (10)
I know someone who bought a house as an "investment". She was forced to sell the house at a low price during the pandemic. The house you live in ISN'T an investment.
I paid an extra $100 towards the principal for the first 6 months on my home. I closed in August of 2016 and just now reached the point where more than half of my payment is going to principal. That extra $100 really goes a LONG way!
A house can be an asset if you go about it the right way. I purchased a three bedroom house and rented out two rooms for $700 each. Now my tenants are paying my mortgage, insurance, and property tax. Now I can use my paychecks to invest.
0:21 Your house is an investment 3:52 Your job will make you wealthy 6:33 You need to be rich to start investing 8:09 Your banker is a trusted financial advisor 11:05 Your 401k is enough to retire
Salaries are not increasing to keep up with rents, college loan debt, laundry, credit cards, etc. Everyone is not built to work 2 jobs. Work life balance is a must. Eating healthy has increased. I tell my sons to look at all their expenses, what can they reduce or cut. Reduce internet speed plans, no paid streaming services, cell phone service plan, etc. It is getting harder to find jobs, with some many companies layoffs, outsourcing etc. Saving and investing is getting harder.
Banks are not your friend…they use your money and profit off the interest on your loan. We paid off our 30 year mortgage in nine years.We had a financial windfall , doubled are monthly mortgage payment. We were already living frugally, eating macaroni and cheese and hot dogs, buying used furniture . No reason to pay hundreds of thousands in interest to banks . We worked hard and saved,but we were very fortunate.
Register for my free masterclass & get Market Briefs as a bonus: https://briefs.finance/e3eac1 WARNING: LOOKOUT FOR SCAMS IN THE COMMENTS! There are many fake accounts impersonating me, and there are many bots promoting fake/scam investments. I will NEVER ask you to contact me through YouTube comments, telegram, or WhatsApp. I have a checkmark next to my name and my comment will be highlighted. Fake accounts do not have that. Please be aware of fake accounts trying to scam you using my name and picture!
One major misconception is that retirement is an age when it's really an ability. You can retire whenever you have the ability to retire.
thank you random guy on youtube
1.5 x speed seems slow, but hear me out. This man knows how to educate. No fluff, no mess, no fat. Worth saving for a rewatch later or sharing with family.
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Top Comments (10)
I know someone who bought a house as an "investment". She was forced to sell the house at a low price during the pandemic. The house you live in ISN'T an investment.
I paid an extra $100 towards the principal for the first 6 months on my home. I closed in August of 2016 and just now reached the point where more than half of my payment is going to principal. That extra $100 really goes a LONG way!
A house can be an asset if you go about it the right way. I purchased a three bedroom house and rented out two rooms for $700 each. Now my tenants are paying my mortgage, insurance, and property tax. Now I can use my paychecks to invest.
0:21 Your house is an investment 3:52 Your job will make you wealthy 6:33 You need to be rich to start investing 8:09 Your banker is a trusted financial advisor 11:05 Your 401k is enough to retire
Salaries are not increasing to keep up with rents, college loan debt, laundry, credit cards, etc. Everyone is not built to work 2 jobs. Work life balance is a must. Eating healthy has increased. I tell my sons to look at all their expenses, what can they reduce or cut. Reduce internet speed plans, no paid streaming services, cell phone service plan, etc. It is getting harder to find jobs, with some many companies layoffs, outsourcing etc. Saving and investing is getting harder.
Banks are not your friend…they use your money and profit off the interest on your loan. We paid off our 30 year mortgage in nine years.We had a financial windfall , doubled are monthly mortgage payment. We were already living frugally, eating macaroni and cheese and hot dogs, buying used furniture . No reason to pay hundreds of thousands in interest to banks . We worked hard and saved,but we were very fortunate.
Register for my free masterclass & get Market Briefs as a bonus: https://briefs.finance/e3eac1 WARNING: LOOKOUT FOR SCAMS IN THE COMMENTS! There are many fake accounts impersonating me, and there are many bots promoting fake/scam investments. I will NEVER ask you to contact me through YouTube comments, telegram, or WhatsApp. I have a checkmark next to my name and my comment will be highlighted. Fake accounts do not have that. Please be aware of fake accounts trying to scam you using my name and picture!
One major misconception is that retirement is an age when it's really an ability. You can retire whenever you have the ability to retire.
thank you random guy on youtube
1.5 x speed seems slow, but hear me out. This man knows how to educate. No fluff, no mess, no fat. Worth saving for a rewatch later or sharing with family.