How to Get Richer Than 99% of People By Age 40
Here is my three step framework on how to get richer than 99% of people by the time you're age 40, 50, 60, or even younger.
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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!
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⏱️ Timestamps:
0:00 – Start Here
0:29 – Defining the Top 1%
1:43 – Leverage
7:27 – Your Money Works For You
9:20 – Income Sustainability
10:30 – What To Do
12:15 – Takeaways
As a member of Gen Z, the power of compounding interest for us cannot be underestimated. The sooner we start saving, the more growth opportunity we have!
*Investing
@ true that. Saved money sitting stagnant in an account does the opposite of what we want
@@New-GenFinance- psyched for you! Army Reserves, my own business, and investing early (Roth IRA first and foremost, at a minimum) were my biggest catalysts that I could readily control (24 yo now). High school sweetheart helps a lot, too.
I started with nothing but have most of it left! LOL Man, age 61, 900k in retirement, setting aside $50-100 weekly, for 3 decades. Slow but steady, and frugal living, which I’m comfortable with.
@@kevinbrewer1399 – the only couple issues I’m looking at now with concern is the steady erosion and divide of traditional America and the fact that, by the time I’m ready to retire, $1million now is calculated to have the buying power of $250k today… so… fk it I guess? 🤷♂️
Your video does a great job breaking down what it truly takes to be in the top 1%—not just working harder but using leverage, equity, and smart financial strategies. The emphasis on thinking differently and making intentional sacrifices is a key takeaway. That is something that i mention in my videos as well. It’s a great reminder that wealth-building isn’t just about income but also about making your money work for you!
Glad it was helpful!
Seems like another unifying factor here is the willingness to take charge. Not even good leadership skills, per se, or charisma, just the willingness.
many people arent willing, its hard to do it. I have a hard time with motivation a lot of times.
As an over 40 person,I think this was the most depressing video Ive seen in a long time lol.
I think I will have to aim for and settle being in the top 50% instead 🙂
Interesting info anyhow!
top 50% still good
Dude, I’m 50 now! Imagine how depressing this one was for me. Going to unsubscribe now…
@@crocodile172 L
@@humphrey What is Top 5%/10% net worth by age 40? I have not as much desire to be at very top as much as doing “well above average”, and having more things in balance
@@crocodile172 why would you unsubscribe? He didnt place you where you are economically lol.
Dont take it so hard, just do your best and focus on where you need to go.
Nicely done Humphrey you do a great job.
Thank you kindly
Damn, I shoulda been a division one college football coach…or Taylor Swift
If you’re behind and you know it clap you’re hands.
Its ok! its really touhg to get to top 1%, just do what you can
Sad reality of life is that when you earn just those few hundred bucks more you move from lower end of the median, to the higher end. So now you are richer than 50% of people you pass by, yet you are poorer than the other 50%. But you don’t feel that way whatsoever.
Uh oh… in 5 months I’m 40. Better get on this!
This video is depressing for 99% of viewers
Because you have a “poor man’s” mindset.
Im in top 20% and I feel plenty comfortable. Thats mainly due to DINK.
I just want to afford a house without 3 jobs and a side hustle.
Thank you for your impressive and knowledgeable video! Please kindly make us the VIDEOS about “Private Equity Funds” investments in the future , thank you so much! Will be waiting for your new videos
Outstanding video as always! Being passionate about investing and digital entrepreneurship, discovering authentic creators like you who share such powerful insights is truly refreshing. Your channel is an incredible guide for those of us navigating the exciting world of content creation. Keep inspiring others! 🌟
The amount of times I’ve seen that clip about earnings average returns for an above average amount of time on this channel lmao
Quick note, 1:07 it’ actually less than half of that for single. Never would you calculate it to be greater than half.
I’m almost 40 and I got to a million net worth with a 100k household income by following basic financial advice. Make a budget and stick to it, don’t waste money on starbucks, have no college debt cause my parents paid for it, don’t take out debt on cars, set savings goals and work towards tehm, inherit $500k from my grandparents, and cook meals at home. It’s so easy, I don’t know why more working class people aren’t wealthy.
Yeah I had a leg up (inherited 80k-90k from a parent in college, no student debt since grandparents paid, and had around 8k provided to me before graduating), and that has launched me well beyond my peers. I made around 15k for 2 years and was able to max out my ira because of that extra money and when I had a real job at 40k, I shared rent and bills, but lived frugally and didn’t touch my funds, and from then on started maxing out my IRA on my own. Once I was 401k eligible, I put 15% in and now I’m at 55k a year with a 230k net worth. Without that leg up, I would probably have like 5k in an emergency fund and 6% to my 401k, and maybe not maxing out my IRA if I still had student loan payments (although I would qualify for PSLF).
@@sourdoughsavant22 Despite being honest it was also a bit of a joke. We are very careful with money and live within our means but childcare and healthcare is an absolute budget killer even with good financial discipline and without some major advantages in life (paid-for college and a large inheritance) we’d would be on-track for a Wal-Mart Greeter retirement.
i know you’re joking but there’s also truth in it. while having help from parents matters, there are people who make more money than me and have inherited more than me who have less money than me because they don’t have a good financial plan.
you work with what you got, and if you work it well you’ll have a good outcome even if it takes longer
Actually Taylor had to record it at least twice since she released a new recording that she owns lol. 😂 you picked the one artist that is known for that
Was thinking the same thing 😂
Money doesn’t grow overnight, but with the right investments, it can grow exponentially over time.
Patience is key in investing, just as it is in gardening. Watch your wealth grow over time!
Thanks to my financial adviser, I’ve experienced the benefits of being in the market long enough to see substantial growth.
Mind if I ask you to recommend this particular coach you using their service? Seems you’ve figured it all out.
Lisa Grace Myer can’t divulge much. Most likely, the internet should have her basic info, you can research if you like.
Thanks for sharing, I just looked her up on the web and I would say she really has an impressive background in investing.. I will write her an e-mail shortly.
I have the saving and networth at the age of 43, but I took a big pay cut for a potential better position in the long run, I took a big gamble here.