@@niraldamendonca7513 All your comment does is ignore the fact that understanding English, as well as maths, will only enhance the maths class. ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-HYSwQ1tZ5Aw.html
1. Stop getting cars (Audi & BMW's) on finance. 2. Stop looking at Rappers to compare how to spend money 3. Stop spending mad money on trainers and belts. 4. Don't live off of credit cards pretending to be balling... When you work in Carphone warehouse or Sainsburys.
Number one rule in life dont go broke trying to look rich. But a car on finance or lease makes more economical sense than buying right (unless its second hand market )
@@leonpalmer2429 i hear you... But I say buy second hand... i'd rather own it outright with no liability to some finance company or whatever for however many years. A lot of rich people by second hand cars... cos they understand that a car is of no value. I'm mean if a person ain't earning a solid wage - they need to not be thinking about a Bimma or an Audi. Paying more towards the finance company in repayments than they are to helping mumsy out towards rent or towards paying off the mortgage. Struggling to put petrol in the car. Llow that.
@@SenszRyes...and a statement. People need to re evaluate how they spend their money based on the context of their lives. But more so what do they regard as important in their life and why...money...materialistic items... or relationships...passions. I see a lot of vanity slaves in our community unfortunately.
A 9-5 can make you rich if you have the passion for it and you take the right steps, and by steps I mean eventually using your experience (10 years plus) to start your own firm or your own business. (law firm, bank etc.) The problem with people today is that they do jobs that they don't like in order to fit in and go with the flow. If you are passionate about the field you work in a 9-5 isn't as bad as this new age of 'entrepreneurs' make it seem. People just want to blow overnight and aren't willing to put even 5 years into something without giving up on it. Everyone wants to get rich quick. btw i'm not knocking entrepreneurs, my main message here is find what you are passionate about, learn how you can make with it and be patient.
@@geturbreadup376 you started that business FROM the connections and experience gained through your 9-5 that's why I used a bank and a law firm as an example.
papi chulo your right ! People don’t have long term plans. Even working in trades etc it’s good to get 3-5 yrs experience then go and start up a company! I know numerous friends who got money and opened up businesses with no knowledge and thought they could employ someone to run it ! Entrepreneurs on YT are not telling people the full story with their upbringings/knowledge built over years towards a particular business which they used to expand into other businesses etc Kids coming from the road are not taught business and think there is a quick route to success
@@purequartz8539 exactly, we are programed to rush the process because we don't usually see the journey of successful people. We just see the material things. Unfortunately in addition to not being mentored, people from the roads are forced into looking for the quick route to money because of their financial situation at home and the need to have things like designer shoes etc.
Pure Quartz/ Papi chulo I 100 percent agree with your point in the sense that you can use the 9-5 to gain experience and after years of essentially training, you can make millions from capitalising off of the skills that you have acquired. (Through the businessman method of bringing something to the market or the Entrepreneurial method of creating that market yourself.) But in the literal sense that you can become rich through just the ‘9-5’ itself, I disagree with. Which 9-5 can you make 1 million+ a year from? Yes there are 9-5’s that you can make 100k or more annually from but a lot of that money goes to other expenses. What 9-5 job ensures that you will have 100k or more spare money in your bank account every year? (I personally don’t class a person with 100k as rich but most people do so thats why I used that as an example.)
There's this really useful spreadsheet bugeting template on excel that I use called ’personal budget’ you just input data and it calculates your income and expenses. Has a fancy pie chart and graph as well and it's free to use
@@SuperMuneera And with that app you are giving all your personal finance info to some company that have an app. I don't currently use either for that but just a thought.
A 9-5 can make you rich, as rich is subjective. But if we’re going on that £81k a year definition than many people on 9-5’s are ‘rich’. The other factor is ‘when’ someone can become rich, as lots of people want it while young, when it’s more likely to happen in 30s-50s. Budget, live within means, push your career boundaries, save, and invest and the chances will increase for sure!
1st let me say it's refreshing to see young black men discussing finances. 2nd to answer your question, no a 9-5 will not make you rich but a 9-5 will be a solid foundation to you getting there.
@@arjenrobbed1294 why do these basic white people always got to hate when black folks give recognition to other black folks??? Are y'all that miserable and pathetic? Go get lice scraped out your scalp and worry less about black folks being great... DONT START NO SHIT, WONT BE NO SHIT
Actually a 9-5 can make you rich, it depends what field you get into. Most business people are not rich and work long hours, that’s something to remember.
Given me a lot to think about!! Urban Financier is eloquent and is bringing knowledge from the other side to the community. Good to see that as he’s progressed he hasn’t forgotten his roots. Another great podcast Chukky!
We can do a whole lot better with our finances. I knew a lady who worked a regular job and put in a good few hours so that she could afford to buy her 2 apartments in Gloucester Road. You can work a regular job and just flitter your money away or besmart and learn about investments.
Chuckie, thank you for bringing him back. Before watching this I was thinking “I’m 25 and don’t have much”, now I know there’s a much more pragmatic way to approach life.
Brilliant video! Looking forward to seeing him again. Perhaps he could speak more in-depth about property investment, lessons we could learn from the rich about managing money and creating generational wealth. Inheritance tax is such a depressing topic to speak on when we don’t have the best information about how to reduce how much tax we pay on it.
Chuckie...You are SO on point with your questioning; I love your technique, precision and openness to showing your vulnerability as a strength. Your guest was FIRE! Each One Teach One... That ONE Will Teach Many.
It depends what you do for your day job, but in my opinion I’d rather be rich in health and life over money. Money doesn’t crave me, my family is more important than money. Yes money helpes but not in all cases.
What does being rich mean to you? do you model your idea of being rich around the wealth of a celebrity/high profile banker/investor/people on the forbes list?
Richness is subjective, however in terms of health and comfort and access to food and and having a place to stay Most of us are wealthy as opposed to people living in third world countries, war zones or terminally ill people, but again social media will make you sleep on your blessings BiG TIME, having said that though, depending on the type of person you are and your priorities you shouldn’t settle for less and always aim high to always have a back up in the future for yourself or/and your kids
I'm in my mid-30s and have had an interest in finance and economics for some time now. Out of the all the videos, this happens to be the best and something I can share. Please do more educational videos like this, you'll be helping a lot of people. P. S. I knew what it meant, but I thought "old money" was American slang 🤣🤣🤣
Great video! More business like podcasts like this would be much appreciated! I love the open chats about real things like this that people don't really talk about but should, the younger generation are getting lazier n ain't wanting to research into the business side but if they do then its very complicated n overwhelming with many big words you've never heard of lol so I love your podcasts because the chat is very down to earth, real and easy to understand. Always learning from Halfcast, thank you :)
You can never answer this question on a surface level, I commend those in the comments saying things like using your salary to invest, starting your own company and so on but let's look at what the definition of being rich is. The definition of being rich is *"having a great deal of money or assets"*; this is subjective, let me tell you why: A billionaire can own as many assets just as a thousandaire can, the amount of assets may be smaller for thousandaire due to less capital but the assests him/her has is still a great deal him/her *(subjective)* as it can still bring in a lot of income. To answer the question *"Can a 9 - 5 job make you rich" the answer is it depends; A bank chief or CEO's daily duties or responsibilities that are part of their job may revolve around a 9 - 5 yet their salaries are in the thousands - millions plus bonuses which means *yes* their 9 - 5 can make them rich. If we look at contracting jobs for instance where some people can earn £500 a day, if we do the math (without tax) assuming they start contracting after 5 - 8 years with experience in their field (business consulting, software architect, consults or whatever) up until average retirement age *(65)* For Example: Age 26 - 28 can make up to £4.44mil - £4.68mil in their lifetime. That sum is made up of purely saving everything you have, if we were to add their expenses, living situation, investments and so on their wealth would purely become subjective, someone please add to this because I'd like to stir up more of this conversation.
The biggest issue is we live in a society of consumers not creators, consumers need money to have things, creators create them for a fraction of the cost ( unless you factor in the cost of learning).
@@_S-t-a-r-z I like that you stated this. Also I think light needs to be shed on how difficult it is to be a creator, especially in the black and urban community. Industries have been set up a long long time ago by those who are against us for no other reason than our color or maybe country. Yes we can do this ourselves by single handedly is not only difficult but time consuming and you will eventually fail
I hear what you're saying, what we have in our favour though is technology which is slowly destroying boundaries. For example if you have £100 to spend on a Balmain or Gucci t-shirt, why not make your own custom, at a fraction of the cost. Forget in order to sell but just to have. Trainer companies including Nike are 3d printing trainers to sell for £200 but a 3d printer costs the same... I know what I'm buying.
I've worked in a high street bank a while ago and I can categorically say you can be "rich" from a "9-5" (a job that pays you a salary). The people with healthiest accounts were lawyers, plumbers, business owners (small & medium), media peeps etc.... The broke peeps were the creatives i.e musicians, dancers and road men/gyal ..the list goes on. It was eye opening
As always, i enjoy listening to your channel so keep it up man. As a young man who never came from wealth, i spent years learning how wealth is generated. This year i started my RU-vid channel practically showing people how to budget, invest in stocks, index aka S&P500, ETFs, commodities long term. These are things i was not taught in school and by my family but it has helped me tremendously. I intend to help my community no matter how small it is hence why i started my RU-vid even though i am introvert. Ownership of a property is a great way but it is not the only avenue, your money needs something called compound growth, which is a powerful passage to wealth. There are 5 main asset classes, Equity like stocks and shares, Commodity like gold, crops, agriculture, fixed income like government or corporate bonds, Cash equivalent like the money you have in your account in line with the current inflation and lastly property ownership. Most finance gurus believe that Cash is not part of the asset class because it is the benchmark to measure your assets. The reason why cash is a potential asset is because it is liquid which means that you can easily exchange it for another asset while with other assets take a little longer to liquidate due to their supply and demand. Wealth preservation is essentially avoiding the tax man and protecting it from fees, reckless spending, interest rates and inflation which is the rise in goods sold.
Great value adding content. To be successful become skilled, be a solution provider, save and invest. I work 8 to 5 save and am into real estate. I am 29 have faith and take action anything is possible,! So many resources out there.
Had to pause it to just say, Chuckie you are a G for this! we need this more often, He just said 1 sentence that completely resonated! This is a very important message! Keep it going bro. Thanks
Great Podcast! On a low income you can become a millionaire. Example of the black car attendant in the USA, who died a millionaire. The key was he invested his money in the stock market at at a very young. If you are 25 set up a Vanguard stocks and shares isa and put within it the S&P 500 and pay £100 per month consistently until age 50 you will be pleasantly surprised. No matter if goes down, always continue to put in. In addition always do a pension also, to assist in your wealth wellbeing. You will most definitely be very comfortable.
This was extremely constructive. Great Pod. Bare gems for those who don't know! One thing tho. Money is power in the material world...and based on what you place value in.
People look down on 9-5s because they think it's just retail, teaching and social work jobs not knowing that there are many 9-5 jobs where you can earn not only six figures but millions. My sister is earning 6 figures as a investment banker for Deloitte. She got it through getting good grades in school and going to a good uni. Wasn't easy but it's worth it bc she's rich and she's only 26. Personally I prefer a 9-5 over entrepreneurship. 9-5 gives you security and a structure.
@@virtualoathstudios5484 directors, CEOs of big companies are all millionaires. The Google CEO makes £50m a year. Many investment bankers are millionaires too. Most of those working in banks and firms in Canary wharf are stupidly rich. All 9-5 salary based jobs.
Gives u security and structure what about happiness gettin out ur bed every day doin suttin that u dnt like it im not sayin thats u but like its just tekkyy cah im 16 just finished school nd my mum is on me about gettin a job but i dnt wsnt even tho i get psid its just thr feelin of doin suttin that i dnt want to do nd it almost feeling like school cah certain stiff at school was pointless man didnt need to learn the percentage yield but i learnt i need to leard about this stuff but we aint taught we arent taught it nd i was gettin sick nd tired of school because its not beneficial nd u can make a mentality nd say this suttin u have to do but eventually u realise this rubbish to the point where i was faking sick to come home nd tryna buss it at home moreless every other day because i became social recluse where in school i wasnt bussing convo it was a punishment some man might tjink im draggin it but it just was like i was dreading goin to school nd i dnt wanna have to relive that through goin work nd in the work place u cant hide there aint x amount students bein looked after my attitude will show even college seems like another big drag but through Gods grace i hope mans banging ball so yh but it gets to the pont where even most people my age dk what they wanna do esspecially wit af parents they aint hearing nuttin about baller nd that all they are doctore lawyers nd that which makes it harder for some1 like me im good at ball but i have never played a sunday league gane in ny life nd i can go hack it wit man in academy or who are released but my parents dc bout nd its jot their fault ofc man will still make it but its just becoming a dragg man
Mae Runway working in banks stupidly rich ? Like 100k a year ? But your earnings are still capped if your in a job. Plus what’s the point of making so much if you hate it?
@@virtualoathstudios5484 firstly why do you assume bankers hate their jobs? Also I listed job roles that could make millions in banks yet you chose to ignore and say £100k? Many investment bankers as well as traders are making millions
I really enjoyed this and learnt from it. I think this should be shown in schools especially to the young ones who think it's all about get rich or die trying mentality.
I hate how his natural reaction was to think that an income of 100,000 is low. When did our standards get so high that you dont consider a six figure salary as rich? Are we not satisfied with having enough to keep the mortgage at bay and travelling the world at least once a year?
This sentiment is definitely relative to where you live. In London 2019+, to buy a 3 bed house, in a decent area with low crime stats, surrounded by good schools and amenities, really and truly you do need to earn at the very least £80k. The people I know earning less than that are 1. Not buying in London 2. Buying a 1 bed cardboard box in a not so great area (that arguably will be going through gentrification). £100k doesn’t sound rich when you live here.
To be clear (not that he said otherwise) a 9-5 is also rarely a 9-5 if you want to get anywhere in it, most of all in those type of city firms, I e. banking, professional services where you've got to dedicate yourself to fitting into a business culture, the late nights, exhausting travel, sucking up etc etc. You can be an entrepreneur (a real one and not a self-proclaimed one just posing in front of cars on IG) and make your money and not shout about it.
Being rich by definition means have a lot money or valuable possessions. Can you earn a lot of money from job well of course. Can you obtain valuable possessions from a job well of course. The most important take away is you can use a 9-5 as a tool to a very successful financial future.
Depends what kind of 9-5 your doing! Plus if your still living at your mums “by choice” to stack a certain amount of money and have a goal your tryna reach then yes it can work for you! If your just working a dead end 9-5 and you know you can do better, and your just lazy living at your mums house with no goal in sight then no it work for you! Spending your money on trainers, and clubbing every weekend how do you expect to save money or achieve anything in life?
Change your mindset. Start by decluttering your room/space. A cluttered space is a cluttered mind. Make up your mind on what your goal is. Become a minimalist. Buy nothing except the nessesities. Look for cheaper alternatives. Delete your social media. Look simple and clean coz nobody really cares how expensive your outfit is. Cycle to work, don’t buy takeaways or go out for drinks with friends. You need very little to survive. Stop trying to keep up with anybody around you. Find something to service people. You will definitely reach your goal. Use your money to earn some passive income. Thoughts become things.
In this world, being financially free/stable shields ppl from a significant number of problems which can negatively effect mental health. That’s not to say money can buy happiness but it can buy comfort which can prevent serious mental issues.
Mikes S I don’t completely agree, I’m not advocating for people to be financially reckless and just focus on being happy but balance. Depending on how you want to require your wealth it will effect your mental. Yes money can shield you from some problems but it can also make others arise, really my point is don’t just focus on accumulating wealth, you’re taking about being shielded from things not creating happiness.
True, $100,000 isn’t a lot in some cities in America. Also, everything depends on the lifestyle you have. Some people on low income are better at managing their money than rich people who spend it all on stuff!
Thank you so much for this podcast. These are the type of discussions we need to be having especially with us young people! The main thing I've taken from this is the inheritance tax from @51:15 Fam I've always said to myself that I don't want to leave any debt. I want everything paid off. But I didn't know the government could possibly tax 40% on my assets if its above £325K. Naaaaaah allow that 😂😂
