7 Things You Should Avoid If You Want to Be Rich
These are some common mistakes people experience when on their way to financial freedom and getting rich – enjoy!
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WHO AM I?
Hello š Iām Humphrey, I used to be a financial advisor, worked in gaming/tech, and started my own eCommerce business. I make practical, rational content on investing, personal finance, the news, and much more with a data-backed approach. My goal is to help you with financial literacy and creating wealth.
PS: I am no longer a current Financial Advisor, any investment commentary are my opinions only. Some of the links in this description are affiliate links that I do receive a commission for & they help support the channel!
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ā±ļø Timestamps:
0:00 – Start Here
0:20 – The Wrong Advice
2:37 – Paying for Status
4:07 – Dunning Kruger Effect
7:23 – Short Term vs. Long Term
8:49 – Buying Too Many Liabilities
10:57 – Single Source of Income
12:14 – Stuck in Comfort Zone
Thanks for watching all! What other videos do you want to see, should I cover some more news-worthy topics? Let me know in the comments!!
BRICS and money flow
Hey man dont quote robert kiyosaki you’re just gonna make the people new to finance think he’s a reliable financial guy and get proned to his scam
M1 finance tutorial?
Can you make a video about funds like VOOG, VGT and SCHG? Moderate-High to High risk etfs and maybe some index funds.
Having a significant other who has different values about money is a major mistake too.
why does it matter? Don’t you manage finances in your household?
Yes. That’s my parents. They both are completely different in terms of finance.
Definitely have to be on the page and path for sure
This
Having a significant other, could be a major financial mistake. lol (mostly being sarcastic)
I also play a lot of high competition video games. Players at lower ranks tend to blame everyone else. They have an external locus of control. They flame everyone else for what’s going wrong and never take the time to look at themself, look at what they can do to improve the situation. Even if the obvious issue is someone else’s performance, there is always something YOU can do to compensate. When you get to the top 10% of players, people stop commenting on other’s gameplay. They communicate useful information and trust that other’s will know what to do with that information. They communicate and discuss what can be done for current issues, rather then telling someone they’re crap at the game.
100%
Before watching this video, Iām gonna take a wild guess and say that designer clothing, a car loan, and looking rich over being rich all get mentioned within five minutes
Got really sick retired early and the low stress lifestyle completely turned around my health nightmare and now I can enjoy bike riding on the farm roads or 30 minute drive to the Surfing area
I think these recent videos are making it more apparent that I don’t need to be rich. Being stable and comfortable is more than enough.
you were a pretty good football player. That should be enough š
8th thing you should avoid: EGGS!!!
Have y’all seen those prices on eggs!!!!
Robert Kiyosaki isnāt a great resource to reference, otherwise love the vids
If you want to be rich, avoid living beyond your means and falling into lifestyle inflation. Start investing early instead of relying solely on one income source, and always prioritize financial education to understand investing, taxes, and money management. Even investing $100 per month can compound to tremendous wealth over decades. The key is to keep going!
This isnāt another self-help book. Itās a manual for breaking free from the system. The moment I finished book Hidden Codex of Wealth, I realized how blind I had been.
W book!
Lifestyle inflation hit me hard when I got job promotion and bought a new 2023 Tacoma trd pro. Good bye promo
yeah new truck is always the wrong answer. but really any new car is a bad financial decision. i just did my taxes my AGI is 240 k. I never bought a new car.
@ my truck I drove 17 years is on last leg. Figured I would treat myself. I keep my vehicles long term. Hoping to get 15-20 years out of this vehicle
Mr beast is a crazy exploitative employer with questionable ethics in every area of his business, not including lying with sweepstakes. No I won’t take his advice. Implementing your rules, don’t take advice from the wrong people and do your research on people who look good on the surface
I choose SPMO, PFIX, SPHD, SPYD as standout ETFs to buy in 2025. By investing in equal parts of each stock, you can expect to earn a 3.8% yield — which is roughly 3 times higher than the S&P 500 yield of 1.2%. I’m seeking ways I could divest some of my portfolio, maybe around 150k, to include digital currencies. What’s your take on that?
A long-term approach can definitely help with navigating market volatility, set clear goals, focus on quality Investments, stay patient and avoid emotional reactions but i always advise getting a financial professional to avoid terrible mistakes. A financial advisor can provide valuable insights and help ensure that your investment portfolios are aligned with your long-term financial goals. I currently have a $1.8m in a well-diversified portfolio that has experienced exponential growth, all thanks to my financial adviser
This is incredible. Could you recommend who you work with? I really could use some help at this moment
My financial adviser is Gabriel Alberto William, a renowned figure in his line of work. You can make a research online with his name. He has many years of experience and is a valuable resource for anyone looking to navigate the financial market
He appears to be well-educated and well-read. I ran an online search with his name and came across his website, thank you for sharing
When you were talking about the Dunning Kruger Effect, it made me think of one of my favorite sayings. “The more you learn the less you know.”
3 things I started doing last few months:
1. I stopped believing in those ‘get rich quick’ nonsense. You need to build real skills
2. I read the book Invisible Laws of Prosperity, and I implemented all its lessons into my daily routine
3. I started embracing all opportunities and challenges
Will definitely check it out
I got it, truly a good book
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There’s a book called The Gilded Nexus of Prosperity, and it talks about how using some secret techniques you can attract a lot of money, it’s not some bullshit law of attraction, it’s the real deal
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Finding the gilded nexus of prosperity ebook should be your top priority, even if it’s the last thing you do in life
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the book that changed my approach to money is The Gilded Nexus of Prosperity all recommendations… It’s completely different from anything I’ve read so far
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This video is a game-changer! So much helpful information packed into one clip. I personally don’t like promoting anything in comments, but I simply have to share with you a book called The Gilded Nexus of Prosperity, that book changed my approach to money, the methods in that book are impressive
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