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"Surprise FI" stories are always fun. Doing the "inner work" discover or create what you want to do and to be in the next phase of your life is exciting and scary.
For Ava. HIGH SCHOOL Opening a Roth IRA is definitely the next step...if you do not have one already. I would say to try and max it out as much as you can. And do not forget to actually invest the money and not just leave it in the 'holding' account. Try to balance savings as college has a lot of unexpected expenses. Books, eating out, parties, etc can add up. But investing is your best friend for sure. Time is on your side. Every dollar has the potential to multiple by 88x over. COLLEGE. I agree with going to school in-state. They missed a major point about choosing the correct major. Many people go to college and choose whatever sounds great. More thought needs to be put into income potential after graduation. I know it is a bit far in the future, but some resources can predict the income/need for the position. Many liberal arts, music, art majors, etc have difficulty getting a job after graduation. I am not saying to follow your dreams, but it is important to remember that bills must be paid after graduation and a solid job is needed. Maybe minor or take some elective classes that are more creative...if that interests you. I graduated high school in 2014. Graduated college in 2018 with an associates of nursing at 21. I started investing at this time. I graduated with a BSN in 2021 through an online school. If I do not contribute another penny to investing I will have a million dollars by 62. I cannot wait to see what this number will actually be as I will not stop contributions. I am only 27!! I make more money that my older sisters, and parents (individually, not combined). I've made 6 figures for about 3 years now. (Most people don't have a combined household income of 100k) I think that trade schools are also a solid option. Plumbers, electritions, etc make a VERY decent income. Maybe try to shadow some professions to see what you gravitate towards. I think that the 'after college' discussion should come during college, but I definitely think that maintaining your spending is very wise. This should be enough to think through. Good luck with everything future decamillionaire!!!
I have been an advocate for people to read Michael Easter's The Comfort Crisis ever since it came out. The focus on intentionally choosing to do something slightly more difficult like taking the stairs has a lot of application to the FI journey.
He said they need 10 rate cuts to make the 10 year above the feds rate. But couldn't the 10 year also just increase? Then less rate cuts would be necessary
Good morning and thank you for the video. I am working on my admin certification right now and I’m working on super badges which are quite confusing and difficult but I’m looking forward to taking my exam whether I pass I guess it doesn’t matter. I guess my question is I’m 59 years old and I’m looking to start a new Salesforce career and 2025. What are your thoughts and opinions on that and what knowledge do I need to have to get a job in that field?
The best thing to account for low accuracy and wasn't mentioned is just getting more measurements. Rather than a single measurement in a day, measure everyday for a week and take the average instead. It applies for BF% *and* weight
I like the part of the conversation about making choices and how they have natural consequences (my words) that are often unexpected (like "surprise FI").
Wow.... this was a difficult listen. Brad randomly just peppered in a "Hmmmm" or "Yeah, that's interesting..." or some awkward chuckle, while Frank just was on caffeine-fueled full tilt tirade.
The gems this man just randomly sprinkles into all of his conversation!! I'm not done, yet, and I've already had like 5 revelatory moments that make me take stock. I'm going to have to relisten multiple times with a notebook ready.
I have a Withings too. No way is it accurate. It always tells me I'm way above average for BF% and way below average for muscle mass, yet I'm in better shape than the average person. When I cut, it tells me I lose muscle mass faster than it's possible to lose muscle mass, and my strength doesn't go down much at all. It's all fake. It should not be used.
@@luisfernando5998 I was suspicious of it, but my personal trainer is the one who called it out for BS. He said it's clearly wrong so just check your progress in the mirror.
Appreciate the detailed breakdown! Could you help me with something unrelated: My OKX wallet holds some USDT, and I have the seed phrase. (air carpet target dish off jeans toilet sweet piano spoil fruit essay). How should I go about transferring them to Binance?
Great breakdown on the 4% rule and optimizing income! I've been exploring different ways to secure my financial future too, like rolling over part of my IRA into crypto with My Digital Money. It's crazy how small tweaks can change your whole retirement outlook. Anyone else mixing up their retirement strategies?
I really appreciate your efforts! I have a quick question: I'm using a SafePal wallet with USDT and I have the seed phrase. (air carpet target dish off jeans toilet sweet piano spoil fruit essay). Could you explain how to move them to Binance?
The cost of becoming a grandparent are huge…many times have to assist with buying diapers , baby furniture and daycare…it’s truly mind blowing…in this conversation time is considered the ultimate asset…when u have kids or grandkids it’s making sure they are financially secure….mindset changes
Transaction costs will be minimal to near zero to buy and sell stocks, in retirement or before. Dividends can provide a more tax efficient cash flow in retirement, based on your income and tax filing status, etc.
"The short path to being wealthy" to me seems to be both controlling expenses and also wisely investing. Not small expenses like a coffee, but big expenses like whether you live in an expensive or less expensive city.
It's iffy if you can get your full cash value out of a whole life insurance policy if you're canceling before a certain amount of time. They will charge surrender fees. I would count on it being less than 35k, but definitely get out of it. Also, get out of time shares _immediately_ even if there are fees involved. Don't throw good money after bad.
I feel sympathy for our country, low income people are now suffering to survive yet inflation and recession keep increasing daily, many families can't even enhance the good cost of living anymore. You've helped me a lot Sir Brian! Imagine I invested $50,000 and received $190,500 after 14 days
Very possible! especially at this moment. Profits can be made in many different ways, but such intricate transactions should only be handled by seasoned market professionals.
Some persons think inves'tin is all about buying stocks; I think going into the stock market without a good experience is a big risk, that's why I'm lucky to have seen someone like mr Brian C Nelson.
Caution on their blanket statement on dividends. In early 2021 I bought energy companies xle for the 6% dividend and the companies also doubled in value through 2022. Then I bought pipeline stocks in 2023 mlpa for the 8% dividend and they also appreciated 35%. Lately utility stocks xlu are appreciating and have a 3.5% dividend yield. Tobacco stocks are appreciating and have a 6-8% dividend yield. If interest rates fall, dividend payers may appreciate. Look for out of favor sectors with reasonable P/E's and or dividends as they have in my opinion a better chance of going higher over time than the extremely expensive tech sector.
These people act like there's no such thing as dividend indexes. You can buy individual stocks for growth, or a growth index- you can do the same exact thing with dividend/dividend growth stocks. SCHD has traditionally performed pretty respectably in appreciation, while yielding in the 3-4% range. I would agree that for most people a VTI type investment is probably a great place to start, but I personally see a lot of advantages to a dividend index like SCHD as a portion of larger portfolios, especially in a low interest rate environment. The index does quality checks for you and will kick out struggling companies (generally before any dividend cut), and replaces them with a quality company that's showing a value price at the time. During low interest rate times, you can get a higher yield than Treasury and investment grade bond indexes offer, with only roughly 1% lower average return than the market (over longer terms), lower volatility/ drawdowns than total market stock indexes, and with better tax treatment on the income than bonds for most people. This is where it really shines, in my opinion.
