If you have ever been NFPA certified you have seen breaker manufacturer videos of workers getting their hands and face flashed - fried . Some of these people will never work again. Some died. Yes he makes sense sometimes, but be very careful! Electricity is invisible. Fact : number one cause of electrical deaths in America is residential . Paying for some help is way cheaper than a serious injury or death. Take care people and be wise.
Have been studying all the videos about the subject, from Dave Ramsey to Teresa Gardalucci to pbs money sense to mr money mustache... and they all have something in common. They skim over important bits so fast you miss it. The number one thing they skip or skim past at light speed is "you have to start at age 22 because it takes 40 years for compounding interest to work". They then fill all of their time talking about all kinds of things that exist around that little reality. Another thing that gets skipped is "we saved like crazy for 9 years (under breath) with our engineering jobs...". Another one is he seems to have found a neighborhood that isn't expensive while at the same time doesn't have nasty neighbors. I work 3rd shift and could never ride a bike in the area I live in at night. Another one is assuming I'm broke because I over spend on nice things. And another thing they all have in common is this: they talk and talk and talk for hours and never actually get around to what you actually need to do, step by step, what you actually do.
Exactly if I made 300k plus minus tax is 220k a year I would be able to save and invest 180k and live off the other 40k for 10 years and have millions . Its a way diffrent story if your income is 35k and wife is 35k thats 70k minus tax is 50k minus 40k fo live = 10k left .
Interesting, I do keep cash in my brokerage account that’s earning a high interest for opportunities. I guess that could be a form of emergency funds. However, if there’s an emergency, my dividends will pay for it.
30 is way too young to retire. What is means is that someone is in a career they don't like and want out as soon as possible. Find your passion and you'll enjoy working.
I retired at age 42, but after four years I went back into the workforce. I just missed working with people. I had a farm and did that but there was just no one to converse with but my wife and kids. I am not saying don’t retire early, I am glad to be working again, but it’s totally different now because I am not working for money as much as for other reasons. A mistake for me was telling coworkers this. I wish I had played up being poor as now they treat me different, or what they call a “short timer”. I plan to stick it out, but I cannot convince them of that because they cannot fathom working for any other reason than money.
You mock the agrarian way of life yet want privacy and safety from prying eyes. You breathe in smog on your bike ride and don't go to more than half the city because you are afraid. You admire honest work and good faith yet think everyone will have the same expectations of life as you. You enjoy the best of the system and watch your community drift apart. You are not holy enough for your own, you will be eaten by your own.
Mr money mustache (Pete Adeney) is like a rock star in the FIRE (financial independence retire early) world. Everyone is laughing because they feel a personal connection to him and they wholeheartedly share his values. It’s like a housewife meeting Oprah or an entrepreneur meeting Warren Buffett.
I had an old friend that was quite wealthy. For a time I stayed at his skyrise apartment while he was abroad. I thought, wow, this is the epitome of success. This is where rich people live in the movies I watch (in fact, there were quite a few rock & movie stars that lived there). Plush decorations, roof top pool & jacuzzi, a Viper in the parking spot. After 6 months, for numerous reasons, I couldn't get out of there fast enough. It was all an illusion. Also, for a used car, I'd recommend buying from a legit rental car place like Enterprise (fuk Hertz). I got a used Toyota Rav4 that will last me for 20 years dirt cheap (because it was a rental) with only 5,000 miles. And I am sure they did a better job of cleaning the boogers under the seat then the guy with the craigslist car.
10:40 I mean I am 18 so it is sus though, but why not being able to enough life and materialistic things. I would rather like it if money would dissappear
Do the same. 2001 Toyota sienna 307,009 miles Use it for my business , renovations and family trips. Never bought a new car in my life. I like taking care of things and wearing things out. I see a lot of new cars on the road today it’s really a sign of easy credit and lack of resourcefulness for many of the drivers.
I just don't know how people afford medical care with FIRE? My wife has had surgery every 2 years for the last 10 years with medical problems, if I didn't work, no way I wouldn't be bankrupt!
I am in my early 60s and retired at 53. Lots of people gave me pushback because they had difficulty grasping the concept of not working if you don’t have to. I looked at my life as stages. I earned everything I have now through a lot of hard work, but I owe it to myself to “stop and smell the roses” in my final stage of life. In my case I left the country after I retired and live in Latin America. It allowed me to get away from all the negative things happening in America while appreciating my new environment. I have yet to meet anyone who regrets retirement.
Nice way to retire. For me, I believe retirees who struggle to meet their basic needs are the ones who could not accumulate enough money during their active years to meet their needs. Retirement choices determine a lot of things. My wife and I both spent same number of years in the civil service, she invested through a wealth manager and myself through the 401k. We both still earning after our retirement.
This is true. I'm in my mid 50's now. My wife and I were following this same trajectory. Last two years, I pulled out my money and invested with her wealth manager. Not catching up with her profits over the years, but at least I earn more. I'm making money even before retiring, and my retirement fund has grown way more than it would have with just the 401(k). Haha.
It's unfortunate most people don't have such information. I don't really blame people who panic. Lack of information can be a big hurdle. I've been making more than a million by just investing through an advisor, and I don't have to do much work. Doesn't matter if the economy is misbehaving; great wealth managers will always make returns.
I think this is something I should do, but I've been stalling for a long time now. I don't really know which firm to work with; I feel they are all the same but it seems you’ve got it all worked out with the firm you work with so i surely wouldn’t mind a recommendation.
I definitely share your sentiment about these firms. Finding financial advisors like Natalie Noel Burns 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.
He’s proof you can’t retire early (unless you’re in the 1%). He makes it very clear he’s still working! However the idea of spending your money purposely or intentionally is still good
Thanks Pete for such an inspirational presentation. Watching it for the second time. Now 43, have a corporate job (not from developed world, btw), have enough assets that generate passive income covering my lifestyle, however stil hesitate to quit my job that I hate and seasonal business that I hate less.
No one retires. You just switch tasks. We like to do stuff. Also the grablers make it very difficult to be financially free. Everything becomes more expensive over time. It's build into this scam we live in.
I retired at age 50 after planning for that at age 13. I remember a 1977 AD in a magazine: "Retire At 50", and I sent for the booklet. Guess what? SAME INFORMATION - more or less: Generate Money - Live Beneath Your Means - Invest Simple formula, and yet so few do this. Anyway, I am entering year 61 in a few weeks - no regrets and life in retirement is wonderful! My second oldest son will retire in his 30's. My oldest is making great money but living paycheck to paycheck. Wealth generation is simple but hard, because spending money needlessly is so much fun and brings such joy into life in the moment. Oh well, enjoy, and stay healthy, because you'll be working your whole damn life. I would never trade my security and autonomy for those fleeting pleasures - NO WAY! Some get it, most do not. FK 'em ALL!
I think the retirement crisis will get even worse. A lot of people can’t save because of low paying jobs, inflation, and insane rental rates. And now that home ownership is out of reach for middle class Americans, they won’t have a house to retire with either.
Rising prices have affected my intention of retiring at 62, working part-time, and building my savings. I'm worried about whether individuals who weathered the 2008 financial crisis found it less challenging than my current situation. The stock market's volatility, coupled with a reduced income, is making me anxious about having enough for retirement.
This is precisely why I like having a portfolio coach guide my day-to-day market decisions: with their extensive knowledge of going long and short at the same time, using risk for its asymmetrical upside and laying it off as a hedge against the inevitable downward turns, their skillset makes it nearly impossible for them to underperform. I've been utilizing a portfolio coach for more than two years, and I've made over $800,000.
'Carol Vivian Constable, a highly respected figure in her field. I suggest delving deeper into her credentials, as she possesses extensive experience and serves as a valuable resource for individuals seeking guidance in navigating the financial market.
I'm hoping to retire next year at 55. My goal next year is to be more serious and consistent with my investments I've been investing since I was 22. 2024 is going to be more serous for me investing consistently for the long term. starting to save for a house down payment. I want to invest more than $105k, but I'm not sure on how to mitigate risk.
Its unclear which stocks and sectors will lead the market in the next uptrend. It is advisable to diversify while retaining 70-80% in secure investments. looking at your budget, you should consider financial advisory.
Safest approach i feel to tackle it is to diversify investments. By spreading investments across different asset classes, like bonds, real estate, and international stocks, they can reduce the impact of a market meltdown. its important to seek the guidance of an expert
Bro i am a qualified journeyman and even if was doing a side job of something simple for EV charger i would Never cut WITH A GRINDER there are other electrical tools thatll do it safer . You crazy
Great video to help home owners do some of these easy things without having to pay someone $500 to do it. I do have one comment though, That Leviton connector is only good for someone who is plugging in, say a dryer, and it will never get unplugged. That Leviton connector is cheap because like i mentioned, its designed to have something plugged into it maybe a handful of times in its life. If someone like myself who has an electric motorcycle was to use this setup and plug and unplug every few days, that would be an issue and could, over time, result in a fire. They make other similar connectors that are designed to handle repeated plugging and unplugging, but they are around $80 instead of $12. Could save you from disaster later on though.
