Your First $100K Will Be Saved, Not Invested
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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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Me investing in selected stock 🗿🗿
I saved over 50K in a year just living with my parents and still eating out a lot (i’m from eastern europe). Still feel poor AF
Take your Parents out to dinner (by thanking them) and buy some groceries for the household and stop eating out!
Move out and stop free-loading…your parents deserve a break.
@@aarontsika1519Notice how south asian cultures don’t have this mentality, thats why they’re wealthier. They dont kick their kids out for an arbitrary reason.
Where does the 4.5% return come from if you are just “saving” it.
It’s actively getting inflated past that number in a savings account.
He’s still investing every dollar he “saves,” saving in this context doesn’t mean putting in a savings account, in means earning that money in income and then not spending it and instead putting it toward your financial goals
HYSA
I mean…there are still people who don’t bother taking advantage of High-yield savings accounts with 4.5% interest…it’s mind-boggling.
I just wish I learnt this sooner at 20. Lost 10 years of time just being careless with my money. To people in their early 20’s, capitalise on the time you got. Make every saved dollar count!
I chose to start at 40 and it’s working just fine. I never wanted kids and marrying someone so they get half my stuff never made sense. All my peers are in their second marriage and won’t retire till they are 70….unless they get divorced again…. my way is not for everyone.
So you are saying “money makes money”
This piece of advice was first stated 27 years ago. I think we need to inflation adjust this number. I have heard $250k as an inflation adjusted figure and I think that’s accurate.
Love the friction analogy
Just like most things in life. The beginning is the most difficult.