@onefootflipper 0 seconds ago I got forced into ebay when I had my leg amputated in 2020. Definitely doing better at ebay than I ever did with a 9-5 job.
People born rich have no idea what the real world is like. And making $17.00 an hour you can work all the hours you want and you wont get rich. And still cant pay the bills . They have no idea. Kind of sickening
some of these Tik Tok girls talk about their bills, and they have a long list of bills they pay, cable, Netflix, whatever. Cut back to the basics and just pay those.
As a Walmart cashier, I see many, many people pay their bill on 3 credit cards. Forget about how many times cards are declined. Jack is right about a person with no debt is a rich person.
Well...I paid for my new roof on 3 credit cards a couple of years ago, but mostly because they all offered 2% rewards (which means, a 2% reduction in 25K roof price!)
the couple living in a free house sound obnoxious...they are the ones that have been extremely lucky but will never realize how hard it is for the remaining 90%
💯 I’m trying to understand why they were even complaining! I don’t get it.. maybe they wanted to be able to buy it on their own, but don’t keep complaining after someone drops a free house in your lap! I’m much older than those people and still can’t afford a house. I have no sympathy for them.
Had to ask my Ex if I could sleep in her car. I awoke many times from the cold because my toes were tingling and interrupting my sleep over and over and over. Now, after years of working and college, I live in a Van 😂
It’s the same with our landlords who own and inherited this property. Each year they keep raising the rents here and our onsite manager said they are an out of touch couple who live in a big home in Colorado with an inside pool. They have no idea what living paycheck to paycheck is like
MusicaMed and everyone hating on the rich for "being out of touch with reality" wish they were also rich, and if they were rich they wouldn't give away most of their wealth to the poor either and most of them would spend LAVISHLY ON THEMSELVES or their OWN family/friends so basically they're just jealous hypocrites 🤣🤣🤣 it's actually pathetic like if you want ppl to be good, be good and altruistic and generous and help people YOURSELF FIRST or else you're just a whiny hypocrite BABY.
...Rich, out of touch? My son, now 38, attended a private Christian K-12 college preparatory school. He knew many kids whose 35-ish and up, parents literally did not ever go to work. More than a few had no idea what the mortgage payment on their home was or what model BMW or Merc they owned. One, a favorite of Fox Business News, Craig, in the 1990's, bragged about paying cash for his million dollars home and having Charles Barkely as a neighbor.
@@azbob1951 Again, they're just out of touch with YOUR and the masses' reality but not their own! and ppl who h8 on them wish they were them cuz everyone wants to be rich and they'd be outta touch too if they were.
@@clayton56tube ~ A old car is beautiful with the low registration and insurance costs, and no car payments. Owning a new car will put you in the poor house quick these days!!
These guys are some of the most down to earth guys on RU-vid. Upfront, no bs, take it or leave it. When I saw this episode I was like wtf double vision two of my favorite channels now they met up?! 😂
They are making money off of your fear. People don’t do anything when they are afraid. Trying to “time” things. So they sit on social media hoping for answers. The answer is to get off of YT & go to work
@@melissal3383So true. And everyone is doing it. I stopped watching a lot of videos because I don't need anymore doom and gloom in my life. Times have always been tough but being a wimp doesn't solve anything.
Its so bad for me that my parents live in the house I'M renting.. with my 3 siblings. Thats on TOP of me, my spouse and my kid. I have NOTHING generationally speaking. They're worse off than I am. Lord help us who are struggling.
I’m a Firefighter paramedic and my wife is a nurse, she works per diem and homeschool our kids. We are having a hard time saving to get a house, I work my butt off and miss a lot of family time. I totally understand the people who were given a house. they aren’t out of touch, they understand if they didn’t have rich parents they wouldn’t have a house. So kudos to them for still understanding the system is broken.
I work in the hospital and no doctor here. I get about working hard and feel for you because I see what you guys do and have total respect for what you're going through.
Curious about your location.. nurses starting pay in My Area is About $80k Up.. firemen start high $90s both with All benefits.. average home under $350 to $450.. Central California.
Kudos to you both! Your family sees your sacrifice and your wife is amazing for working AND homeschooling your kids. I do the same I work full time and homeschool 3 kids and I know it can be a lot. Kudos to you both and best wishes, your kids have great parents ❤😊
As for having children, a child if you wait too long, you won't be able to. A child is very expensive and a lot of work and sacrifice. I have a 24 year old son. I'm still doing just fine. My wife and I worked it out. When my child was born, my wife wanted a bigger house. I pointed at my son crawling on the floor and said, there's your bigger house right there. Everything worked out just fine.
@@jodiekohut9443 For my parents it was almost free, back in the 70s and 80s. They just said no to any request for anything more than basic survival (i.e. a bike to get to school was the most they could permit) until I didn't bother asking anymore. It got slightly better as I got older because I could provide value by babysitting a sibling a decade younger and later looking after a house for two years while it was being prepared for sale. Most of the money my parents made went into buying two houses in different states, which they had paid off in full by 1988 and 1991. The only problem was, they sold both for cheaper places in the late 90s, before prices rose sharply, and against my protests. They would have quadrupled their money if they'd held onto them by now, and neither was sold for financial reasons - just a lack of appreciation of the value of them annd future growth prospects.
Although on the flip side, my husband and I didn’t meet until our late 30s. I was 39 when we had our son and honestly it’s been great because we both worked and saved and already had a perfect house for a family of 3. Baby boy is almost 3 now and I’m 6 months away from early retirement so I can just be a full-time mom. So - being an older parent can work too. I think there will be perks to having kids early in life but I am definitely seeing benefits of doing in later. ❤
This is really good Michael. Thank you for your friend coming on board. I come from generational wealth, but I had major back surgery and I can barely work now. I make really great money when I can work because I'm highly skilled. But now I'm struggling. If it weren't for my family I would definitely be living under a bridge somewhere. I'm extremely grateful. 🙏💕🎶
I am very healthy. I run 8 miles a week. Very fit. Learning to code - C# and .NET. I also have an MBA. I don’t come from a wealthy family. I have student loans. I have 8 years of international business experience. Laid off last year. Having a difficult time finding a decent job. I work two jobs to get by as a barback and customer service in retail. Sometimes Uber. I do own a car, 2016. My mom can’t afford to live on her own. We live together. This should put things into perspective. Money versus having no money. Is health priceless? Would you trade lives?
Russ how did you hurt your back? Was it work related? What is your skill set that you mention that is highly paid? Why cannot you do it with a hurt back? It is not software?
My extended Chevy Express Van is a tolerable space to live. It could work but one needs a pleasant place to park with safety and hook-ups. Hey! Maybe a business opportunity.
My uncle is an aerospace engineer who started his career in the '90s. Guy owns multiple properties, including a huge house on lots of acres as his main property. Meanwhile, a friend of mine who started his career as an aerospace engineer was lucky to find an apartment in a sketchy part of LA. If an engineer barely breaking the 6 figures is barely making ends meet, what hope does anyone else have? Especially out here in SoCal.
The only things I put on my credit card are booze, strippers, and cash advances for eight balls of blow. Aside from that, I’m very responsible with my credit card spending.
We recognized the housing market was broken and had one son move into a rental we had and bought another for our other son. Both of these occurred after our grandkids were born and we saw no hope of them being able to afford a home on their own. They’ll inherit the homes when we pass. We are very fortunate, but it’s tough out there.
Whaaaaattt?!?!? Awesome, seeing you 2 together 😂😂😂 Thank God that I am FINANCIALLY EDUCATED. YES there are LOT OF PEOPLE that are DETACHED FROM REALITY 😅
I used to live in a "gated community" in Florida, mostly retirees who had plenty of money. These people truly do live in a bubble. What's worse they down on anyone who is not 65 or older. I will never live in southern Florida again.
Interesting meeting Jack, subscribed 2 his channel. We are now age 72 and retired at age 52. We cut coupons, and our cars in this life have been a 1978 Dodge Aspen,1985 pontiac Fiero, 2001 Toyota Camery, and a 2005 Grand Caravan. We saved and paid cash for each one. We sold the Aspen with 300K miles to a poor family for a dollar. It still is in use. We sold the Fiero with 200K miles to a collector for $100. We keep the Camry in MOAB Ut for roar trips and drive the Caravan at home with 180K miles on it, All have been reliable cars and we do not need to impress anyone. Spend our time taking vacations or staying in our home I bought way back when I was 35 years old,
Do you feel like property taxes will soon approach your original mortgage cost? That's one of the issues I have with buying real estate anywhere near a city - how high will my property taxes go how fast? I know retired couples that, after owning their house for a decade, are now paying more in property taxes than their mortgage.
Built my house in 2005 ,got a construction loan hired subcontractors and saved a ton of money ,when your in control you get what you want with out wasting money and you supervise every aspect of the job . RU-vid can teach you almost everything to make it happen.
I enjoy listening to you both. I am a late learner about economics and finance. Many people are in the same situation as me. Lost half your assets in a divorce and taking care of elderly parent. It's wiped out my savings and I'm paying down debt. I can't help parent any more.
YOLO. I am mainly surprised how much these houses are. The incomes are not high in Miami. I am assuming its international laundered drug money/proceeds from state capture. This could be a good explanation as to why home prices are so decoupled from people's incomes.
try paying the same total, but pay it once a week. If you can afford $100 a month, send in $25 a week. Don't wait until the bill comes. It reduces the accrual of interest and bites into the principal faster.
I live with my wife's family, we split the rent 3 ways, we have a decent sized house that everyone has their own space. I'd rather live here with them than on our own. We can afford our own place but saving money on rent is nice.
unfortunately, we have a generation who hasn't learned about the difference between wants and needs. Fast Food is a want. For example, yesterday I bought a lb of good hamburger meat on sale for $4.00. I made 4 patties out of it. Bought a bag of frozen fries for $2. Total cost was 1.50 per meal. That same meal at a fast food would have been $5 per meal. I am mortgage and debt free and live on less than 1,200 per month . It can be done.
$5 per meal? Maybe 3-5 years ago. My friend, I would argue you saved yourself a lot more than you realize. At least in my area, burger and fries will now run $8-12. So kudos to you for saving money and I bet it tasted better and was healthier too. 🍔🍟
Well, things can not keep going the way they’ve been going. Maybe a lot of viewers here are too young to remember the 90’s but our standard of living in general has dropped a lot since then. Food was cheap, medical insurance actually Paid For Things without reaching a $6000 deductible and was affordable. I don’t know how this country can go another 20 years on its same downward trajectory. Something is going to break before then. You already have problems recruiting for the military. Is this because no one wants to join the military? Or is it because no one wants to defend a broken political system which has continued to demoralize its citizens for decades?
Your right nobody wants to fight a war where potentially millions die so 5 military contractors from Raytheon or Lockheed & Martin the military industrial complex 🤔
I'm one of Jack's subscribers. Good F ing man! Enjoy his style and highly insightful content. I was with you Michael before and still rockin with you.. Great creators here folks... Thanks guys..
I need to vent about FOOD prices. I lived near two weekend "farmers markets" and regularly shopped Publix and Wynn Dixie. Food was much more costly there compared to the NY, PA. area. Even DELI...I felt like a school lunch was too much. Years ago, $8.00 lb lunch ham. WHY?!!
Good question? Why are we paying so much. I think with inflation they raise prices knowing we have no choice and we can or cannot buy it! Groceries are ridiculous!😢😢😢
Well when the WEF put out a video of 2030 predictions and one of them was "you'll eat less meat." THEY MEANT IT. These people aren't playing games, eventually you're gonna figure it out and we will collectively fix it. Until then, BRACE FOR IMPACT.
@@Mark-pb8kj Honest question: do you really think there's any possibility of fixing this? When all these elites have their dirty hands in every single possible pot and they pull all the strings? How can we, regular, ordinary citizens ever fight them and collectively fix it? How can we successfully bring down the system? All the alphabet agencies are compromised. Who do we have on our side? Not to mention that the mess is not exclusive to the US. It is happening globally. Look at what they are doing to the farmers in Europe.
Food prices have doubled almost in the last 3-4 years. It’s so unaffordable and so ridiculous. I don’t know what we’re all going to do if it continues.
Hey everyone! Don't try to buy / acquire a home. They're really expensive. But if you can get one cheaply, then get one so your monthly costs are fixed. Otherwise just rent or buy an RV. I'm living for just $681 a month in a mobile home park. Utilities included! I might move over to a place that is $500 a month. Utilities included. This is just north of Sacramento Ca. Bout an hour drive. Sacramento proper would be $1200-$1500 a month for a mobile home/ trailer park spot. Too much. Rural is way cheaper. I hope everyone can make it to the country. Plus you'll have chickens, goats, donkeys and cows to keep you company. Russ M.
I'm an RE Appraiser in MI area. I started cutting back everything I can 2yrs ago. Moved office home, saving $1K/mo. Pay off expenses I don't "Need". Know your "Needs & Wants" and start cutting asap! I'm seeing more and more Foreclosures coming across my desk compared to 1 to 2 yrs ago.
@@JamesAllen-xk8bc ummm, I'm neither rich nor on welfare. I make a solid middle class income, in my late 20s, and having my second kid later this year. It's all about your priorities.
Kids are an economic trap. I hear it from plenty. It’s not when they are young, it’s when they get bit older. They cost a lot of time and money. Why lot aren’t having them. Not an opinion it’s a fact. I can retire in 5 years. Most people I know with kids will be working until hell freezes over.
@@night5091 Kids are great when they are young - it's around the age of 20 that the shit starts happening. And in this country your kid will be struggling all his life just to get by (unless he gets and keeps a government job.)
My Mom just passed and I bought out my Sister's half of her house. I had to pay $7,500 just for the attorney and $15,550 for a bridge loan. Yes, I did get a house for half price, but I still have a 30 year mortgage @ 61 years old. I am so sorry for your loss.
Loved the "Miami Vice" vibe! My son, when asked , "Why can't you just learn from my mistakes?" answered, "I'm an experiential learner." 😂😂😂 That's painful.
The government wants real estate "investors" to get their profits. So throw more tax dollars at the wealthy by SUPPOSEDLY "helping" the poor. Walmart employees use more food benefits than anybody else, and Walmart makes $150,000,000,000 profit annually. You can bet a good $100,000,000,000 of that profit came from the government via food and cash "assistance".
I am part of the 'college is the answer' generation. I took a low paying law enforcement job in 2009 and stayed as far away from credit as possible. Two years ago, I was able to get my student loans completely forgiven thanks to the Pub Service Loan Forgiveness program. I'm debt free, but live in an area where it is actually cheaper to buy than rent ($973/house vs $1800/rent). Thanks to Michael, I've learned so much about the mistakes I don't want to make versus the risks I need to take in my position.
I grew up eating food from Dumpster’s. Now I am a multi millionaire. It took a lot of hard work but a hell of a lot more luck. I feel for young people today. My children are in their 20s and they still live at home.
@@7000x Something seems like B___ S____ with this comment. For one - nobody eats from dumpsters. Then he turns into a millionaire. Don't believe everything you hear or read. LOL.
It took me until my late 20 to figure out I was the talent behind a business and that I should start my own business and taking a greater share of the profit. Because of this decision, I’m able to support our five piece family.
We have 3 kids, one income. It’s tough! Had them from 26-30 years old, it’s even more expensive than when they were babies because they eat way more. But no diapers at least!!
They did. In 1981-82, you couldn’t get a job at a gas station for 3 bucks an hour and interest rates on a home were 12 percent and that was when places actually did indeed pay minimum wage, not five bucks above minimum wage like they do today. Our government unleashed imports and I remember half the kids dads lost their jobs at steel mills and auto plants and they got free lunch at school. It was bad, worse than anything I’ve lived.
@@phuchyouh7171 They moved on to low paying service and retail economy for the working class. Then again, I feel like working class people no longer exist because no one really wants to work a job where you actually do physical labor. If these places where still here, they probably wouldn’t have the workforce they need people are so lazy. Everybody today is so rich they can just opt out of work if they don’t like the job or wage.
2008-2011 was some of the lowest and hardest times of my adult life. What I learned from that time was to be more than prepared. Today, I am in such a good place by not getting into debt and making good money decisions. I have saved more than enough for a rainy day. While I don’t hope things come crashing down, I sometimes believe it’s the only way learn. When fight or flight mode kicks in and do what you need to do to survive. In the end if you come out on the other side you will have hopefully learned from it. It’s very humbling.
I had a son when I was 34 a year after marrying. It has been the best thing that ever happened. Changed me from being self centred and perhaps selfish. He is at university now in the holidays we hike together, surf, mountain bike, snowboard. I never thought about the money I just wanted to bring someone into the world and teach them and bring them up. Best gift of my life alongside of my wife.
Having a child is the best thing in the world. I had a child at 40. I guess it was the last minute. (Mohammed is my husband's account) My baby is my world, and I love raising 1 child.
I never thought, growing up in the 80's- that I'd have children. I wasn't interested. However, I changed my mind at 33 yrs old and had 2 beautiful children. The most incredible, amazing experience - don't miss it!
Michael, you and Jack are really telling it like it is, and not pulling any punches. In this day and age, I have a hard time believing what most people say, especially on TV and on the Internet. You and Jack, I truly believe, are being very honest and very "down to earth", about telling your listeners the "real" truth! Keep sharing with all of us (especially this 77 year old "learner") about "the facts of life". I really admire both of you for speaking out about the different financial problems that most of the public is going to face, in the near future. Joe.
MICHAEL AND JACK NICE TO SEE YOU BOTH TOGETHER, I DID'NT KNOW YOU BOTH KNEW EACH OTHER THATS GREAT CAUSE I ALWAYS WATCH YOU BOTH, I LOVE BOTH OF YOUR SHOWS, YES THAT LADY AND MILLIONS OF OTHER PEOPLE ARE TOTALITY OUT OF TOUCH WITH THE TRUE STRUGGLES THIS YOUNGER GENERATION HAS TO GO THRU TO JUST EAT AND BARELY PAY RENT AND THEN NOTHING IS LEFT OVER. BOTH OF YOU KNOW THE REAL FIGHT. I HOPE WE CAN GET THE POWERS THAT BE TO CHANGE THIS PROBLEM.
LOL Jack is hilarious! Even his walk and look har har! i've gotta find his channel. I'm already locked into yours Michael and appreciate you too, don't cry.
New member…. Love your style, content and delivery…. The information being shared on your platform resonates with me… I wish I had this knowledge earlier in life…Keep dropping those gems…Love you here in Chicago 🍷
So happy you guys did this video together! I’m subscribed to both of your channels and loved how we got a mix of information + comedy relief because we all need to be informed of what is really going on but man this stuff can be depressing :D
I am so mad at myself. I could have rented out my house & cleared $1,500 profit after paying the mortgage. Then I could purchase a smaller place & I would have made at least an extra $200,000 in increased equity over the last 10 years. My kids are grown - I don’t need this big house - like Jack I missed out on making a huge amount of money because I didn’t see an investment opportunity. I live in another nice place in Scottsdale, Arizona🌵, Mike.
BTW - please have a child. It is a big responsibility, but makes life complete. When that little angel smiles, it is worth all the hard work.👶🏻 Michael - you are so handsome - you need to give our world another little Michael with those great genes.😜
Biden gave all his rich friends who financed his campaign a bunch of business, buying crap we don’t have the money for as a park back ( don’t worry, GOP is just as guilty). This is ruining our country - debt our great grandchildren have to pay.
Hubs is a retired Marine. Obviously, we moved around often and did not build any equity in a home. We did buy a new home in Jacksonville, NC, but sold it when we got orders back in 2008. We were sent to Indiana on recruiting duty for his last 4 years. After he retired, he went back to school. We rented the same place for 13 years. Honestly, it was great. In 13 years, the rent on a 3/2 only went up $100/month. The landlords loved us and fixed things immediately. We finally moved home almost 2 years ago. Bought a 1951 built tiny house (658 sq ft) with 2 acres for $50/sq foot, great deal. We've already replaced most plumbing, new well pump, new furnace. We still have to update pretty much everything, and we're doing an addition. (It is a 1/1, no kids left at home) I'm happy, and we're fortunate, but gd is home ownership expensive.
The average person learns from their own mistakes. A successful person learns, from the mistakes, of others. A Fool, doesn’t learn, at all. Jerry, from Anaheim, California ❤
I guess it all depends on your lifestyle,, evidently Mike is one of these people that don’t want to be tied down, go when you want he does a lot of traveling, no baggage, except for the wife.. big difference.. and another thing, if you don’t have kids, you don’t miss them.. They are very expensive to raise these days., Especially by the time they get to college… But I agree, Marriage is nothing without kids.. especially when you get Older in life, They are your best friends to the end… And grandkids are a blessing…
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Wish all parents were you ..most parents are by accident and irresponsibility
OMG, the closing costs on a house are KILLERS! 2019 I stretched to buy a mid century house. At closing I had to fork up multiple checks of almost $40,000 - over the deposit! I was shocked and not prepared. Nobody talks about the closing costs
You just mentioned my cousin! lives in her family childhood home in California! It's paid off! 3 Bedroom with a yard!. Pays "rent to her mom" you know that wasnt expensive.
One of my friends just got 225k from his parents and he will get more for inheritance. My parents cut me off when I was 16 when I started working and the only thing I ever got from them was $1200 to help with Uhual when I was moving cross country. 225k would absolutely change my life....I would be set for life...Some ppl just get lucky I guess. I'm still hustling to try to get a paid off house someday. I'm prob be 50. My parents live in a trailer that's worth like 20k. No inheritance for me lol.
Once you have a child, it's for life. Raising a child costs more than $250k. Monthly expenses for diapers, baby food, doctor's visits, daycare. It's not even a serious convo today. * Liberals drive Range Rovers. *
Enjoyed this collab! To all wondering, hesitating to have children - they are the biggest motivation and push you will EVER have. We have 4 kids, and it gets tough - but it ALWAYS WORKS OUT. The world needs a ton of more down to earth, common sense, GOOD people - so if that's you, please procreate 🙏🏽
