If I Wanted to Become a Millionaire In 2025, I’d Do This
In this video I detail 7 proven steps to make your first Million! It may take some time, but if you follow these steps to a T… there's no doubt in my mind that it will guarantee the path to wealth. Make sure to also follow on Twitter for daily tweets:
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WHO AM I?
Hello 👋 I’m 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!
⏱️ Timestamps:
0:00 – Start Here
0:18 – Invest Aggressively & Often
3:40 – Tax Advantaged Accounts
5:54 – Cost of Debt
7:06 – Increase Income
10:11 – Track Your Progress
11:32 – Bonuses or Windfalls
12:51 – Staying Consistent
Dropped some heat in this
thanks Brian!
I laughed out loud at Graham and Humphrey. Great video!
Glad you enjoyed it!
If you bought a home in 2023-2024, even the mortgage should be considered as high interest debt since the interest rate is so high!😂
Living with parents is underrated.
I’m saving about 36K USD per year on rent & and bills, and I’m investing every penny of it ON TOP of what I’m earning.
Very. I stopped giving af what ppl thought and moved back. Ofc i contribute bc i work full time, not perfect and it takes sacrifice but it’s so worth it.
My family and I are originally from Ghana. It’s a very common thing to have multiple generations in a family home
It’s kind of a sad state of affairs that not everyone has a healthy enough relationship with their parents to tolerate living with them. Living with roommates would probably be the next best option by default
@@BeautyToTheMax99 in italy it’s pretty normal to stay at home with parents until at least 19 when you go to university.
Also very common to stay until 30 if your parents live close to the city where you study/work.
What’s the point of spending more just to move out? doesn’t make any sense, only if you have a bad relationship with your parents
Hit my first 100k a couple of weeks ago! Hopefully in the next ten years could see my first million! Hopefully you all see lots of gains and prosperity in your portfolios 💼
A couple years ago, my net worth was -$50k. I just hit +$100k a few weeks ago too. We got this.
Once you get the snowball rolling then there is no stopping anymore. We got this 💪@@thomaslunden
Following you for a year, made $10K in profits.
Nice!
At the very least, I now grasp the concept of leverage. Creating wealth and financial freedom isn’t as tough as many people believe. Building wealth and remaining financially stable indefinitely is a lot easier with the appropriate information. Participating in financial programs and products is the only true approach to make a high income and remain affluent indefinitely.
Starting early is simply the best way of getting ahead to build wealth , investing remains a priority . I learnt from my last year’s experience , I am able to build a suitable life because I invested early ahead this time .
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.
That does make a lot of sense, unlike us, you seem to have the Market figured out. Who is this consultant?
Finding financial advisors like Stacy Lynn Staples who can assist you shape your portfolio would be a very creative option. There will be difficult times ahead, and prudent personal money management will be essential to navigating them.
Thank you for this tip. It was easy to find your coach. Did my due diligence on her before scheduling a phone call with her. She seems proficient considering her résumé.
Would you recommend not contributing to retirement account temporarily to save up for a house down payment?
You should never not do the match (minimum)
Started both my kids at 16 to focus on their Roth IRA with my $1-$1 match.
21 y/o has $35,000 and 18 year old has $18,000.
They will be ahead of the curve. I started my kids in high school and gave both of them $2,000 to start their Roth IRAs. The both had $10,000 by end of senior year. I am hoping they can hit $20,000 in their IRAs by the end of college. They also both hold $20,000 for school expenses. I covered their college tuitions through 529 plans. I hope they will be millionaires early in life.
Thanks for watching! What was your favorite step? Let me know in the comments
Thanks for another great video, Humphrey. Could I request one on your take of net worth vs cash flow please? 😊
A Bank error in your favor? I forget was that a chance card or Community chest?
Honestly I didn’t think of bonuses as they should be invested. I was just going to use it for vacation lol.
But this is such a good idea of spending 10% and investing 90%. This way it doesn’t throw off my budget and also doesn’t change my mindset that I’m ‘rich’ lol
October marked our one year anniversary of using your networth tracker. We do it every month with my husband and we love seeing our networth going up steadily. Thank you for the freebie. ❤
Your templates are great! Been using them for months now and I’ve been seeing a steady increase in net worth, savings, and a decrease in random spending
The continuously changing economic conditions in our society have made it necessary for people to find additional sources of income; thus, I am looking at the stock market to fuel my retirement goal of $3 million.
Keeping some gold is usually a wise decision. You would be better off keeping away from equities for a bit or, even better, seeking advice from an expert given the current market conditions and everything that is at risk with the current economy.
Agreed, despite my rookie knowledge of investing, I have a financial advisor who did the trick in a bit more than 6 months after a lump sum capital of $500,000, and I’ve so far made a fortune. I’m now buying real estate, gold, and silver as advised by my FA.
I truly appreciate the implementation of ideas and strategies that result in unmeasurable progress, thus the search for a reputable advisor. Mind sharing info of this person guiding you, please?
Caroline Suzan Olson is my financial advisor. Just google the name, and you’d find the necessary details. To be honest, I almost didn’t buy the idea of letting someone handle growing my finances, but so glad I did.
Very much appreciated. I just searched Caroline Suzan Olson on the internet, spotted her consulting page ranked top, and was able to schedule a call session. I’ve seen commentaries about advisors, but not one looks this phenomenal.
Retiring early! I wonder how realistic it actually is. It’s one thing to have that goal, but if you don’t have a plan, things can go sideways pretty quickly.
True! I’ve heard some real horror stories—folks who jump into early retirement without enough saved up and end up struggling a few years in. My friend tried it but found that health expenses alone took a huge bite out of his funds. It’s not as simple as just saving up a lump sum and calling it a day.
Exactly. A solid plan is essential, especially if you want to avoid those unexpected pitfalls. I actually know someone who spoke with KRIS LIZETTE DORNBUSH, a financial advisor who’s been around the block with some big names. she’s helped everyone from politicians to people like us, and her whole thing is avoiding flashy, high-risk moves. She’s more focused on making sure people’s wealth lasts the long haul.
Oh, Kris Lizette Dornbush? I’ve heard about her. A friend of mine who owns a small business consulted her, and she came away with a way more sustainable strategy. Kris helped a lot of people, even some top executives and celebrities, but she also works with those who aren’t wealthy. What I like is that she’s practical—doesn’t push for these big, risky investments just for the sake of higher returns
Oh! Right, because those high-risk moves can really backfire, especially when you’re retiring early. Some people think they’ll make big money fast, but that’s a dangerous mindset. And if the market takes a hit, you could be left with a lot less than you planned for.
Exactly. It’s not about getting rich quickly; it’s about making what you have last as long as possible.
Waking up every 17th of each month to $210,000 it’s a blessing to I and my family Big gratitude. Started with 14k in last month 2024
I want to compliment you, you have said it all. I am a little business owner and I really want to expand my business to the next level by making myself an investor but I really don’t know how to go about it..
Assets that can make you rich
*FX
*Btcoin
*Stocks
*Gold
*Real estate
Ms adriana understanding of market indicators is impressive. She knows exactly when to enter and exit trades for maximum profit. her siignals are top notch
Wealth is built in both bull or bear market and also wealth transfers from the impatient to the patient. One of the best ways to succeed in crypto is by trading your assets with a good strategy.
hello from norway I’m retired at 47, went from Grass to Grace. This here reminds me of my transformation from a nobody to good home, honest wife,$35k biweekly and a good daughter full of ❤ I’m forever grateful Adriana Katherine
I started saving aggressively in my 20s and it’s made a huge difference. My financial advisor says it’s the key to achieving financial freedom.
I wish I had started sooner. But I’ve been making up for lost time by maxing out my 401k contributions.
I’ve been exploring other tax-advantaged accounts, like Roth IRAs. Have you considered those?
Yes, I have. My CFP recommended a combination of traditional and Roth IRAs to optimize my retirement savings.
I’ve been trying to hire a CFP for a while now, but no luck finding any. Any recommendations on how I can find a CFP?
Nora Jean Erickson, CFP, was recommended by a friend. Her expertise and personalized service have improved my financial stability and confidence
Sincere thanks for your spreadsheet. Love your video series on the Pamp Gold factory visit! Collector of Pamp gold myself too. 😊
Both of my kids had $10,000 in their Roth IRAs by age 18 and contribute $2,500 each year. Once they graduate from college they will begin to max out their accounts. They also have a cash savings of $20,000. I will show them your video and have them increase their contributions to $3,000. Thanks!
Amazing video, A friend of mine referred me to a financial adviser sometime ago and we got to talking about investment and money. I started investing with $150k and in the first 2 months, my portfolio was reading $274,800. Crazy right!, I decided to reinvest my profit and get more interesting. For over a year we have been working together making consistent profit.
Hi. I’ve been forced to find additional sources of income as I got retrenched. I barely have time to continue trading and watch my investments since I had my second child. Do you think I should take a break for a while from the market and focus on other things or return whenever I have free time or is it a continuous process? Thanks
@@Donnafrank-k6e However, if you do not have access to a professional like Clementina Abate Russo, quitting your job to focus on trading may not be the best approach. It is important to consider all options and seek guidance from reliable sources before making any major decisions. Consulting with an AI or using automated trading systems can also be helpful in managing investments while balancing other commitments.
@@Bestjudy001 Oh please I’d love that. Thanks!.
@@Donnafrank-k6e Clementina Abate Russo is her name.
Lookup with her name on the webpage.