How to Build Wealth With $0 Dollars (Seriously)

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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!
⏱️ Timestamps:
0:00 - Start Here
0:32 - Earning Money
4:03 - Investing
7:07 - Money Matters More Early
9:00 - Multiple Income Sources
9:42 - Investment Income
10:44 - Capital Gains
11:14 - Rental Income
11:37 - Interest Income
12:28 - Side Income
13:30 - On a $40K Salary

Опубликовано:

2 июн 2024

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Комментарии : 180

@humphrey 2 месяца назад

Thank you to our friends at Empower for sponsoring this video! Click our link: bit.ly/HumphreyEmpower to download Empower and get approved for the Empower Thrive line of credit.

@GoPractic4 2 месяца назад

Could you please talk about how to reach from 100k to 1M? I could not find any video talking about it. Thank you!

@michaelstewart1838 Месяц назад

@@GoPractic4Ha, you mean of his or the tuber in general? Tillbury( like Cadbury has good eggs* 😉, maybe one L I forget. First names are a tricky Mark( Humphrey is good too. 👍

@Andrei-uw5vz Месяц назад

No thanks

@mikey43221 Месяц назад

Creating wealth entails establishing positive routines, such as consistently setting aside funds at regular intervals for sound investments. Financial management is a vital subject that many avoid, often leading to future regrets.

@tmer831 Месяц назад

Indeed, currently I'm managing my finances wisely and being frugal. In the last 19 months, my investments grew by 43%, adding over $650K in profits. However, I've had losses in the past month, making me anxious. I'm unsure whether to sell everything or wait.

@WillieNickell Месяц назад

I think having an investment advisor is the way to go. I've been with one because I lack the expertise for the market. I made over $490K during the recent dip, highlighting that there's more to the market than we average folks know.

@DavidCovington-st2id Месяц назад

My partner’s been considering going the same route, could you share more info please on the advisor that guides you.

@WillieNickell Месяц назад

'Vivian Carol Gioia' is the licensed advisor I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.

@DavidCovington-st2id Месяц назад

I find this informative, curiously explored Chrystal on the web, spotted her consulting page, and was able to schedule a call session with her, she shows quite a great deal of expertise from her resume.. very much appreciated

@stephmeldrich6765 Месяц назад

Not at all, I am saving and investing around 40 percent of I and my employer contribution. I have a high paying engineering job, and I live in CA. With covid 19 my expenses are extremely low. I have zero debt on a 7 figure portfolio, no rent and car paid off and it helps me a lot to just save. I feel lucky and grateful my adviser Anna Rounds Fay came into play.

@taylorgreen5908 Месяц назад

That’s some good values. sounds like you got something going for you

@LanceyRoche Месяц назад

She appears to be well-educated and well-read. I did a search on her name and came across her web, thank you for sharing.

@simonomilan Месяц назад

Love this, i just looked her up. I'll work with her too. Thanks for the tip

@YelloDuzzit Месяц назад

"Broke? Have you tried sellin million dollara homes in Hawaii?" 😂🤣😂🤣

@empower Месяц назад

A great video with some great advice!!

@humphrey Месяц назад

Thanks so much!

@paulbeasley1296 Месяц назад

Your laid back style is soothing, you have the great gift of encouragement with that hope

@F107 2 месяца назад

Always appreciate your videos, bro. Thank you for the wealth of tips 🤝

@punisher6659 2 месяца назад

Thanks again for your content.

@Bangpaulxu 2 месяца назад

Been watching you for three years, really appreciate your content and learned a lot! Thank you Humphrey! Moving back state side after two decades overseas and each of these videos are making me transition back to living state side haha. much love from Shanghai China.

@alexamelodyleon7862 2 месяца назад

I love your vids. Always so informative and entertaining

@humphrey 2 месяца назад

Glad you like them!

@johnli.notlee 2 месяца назад

Hey Humphrey, when you say that its easier to grow your wealth after th first $100k, does thar include your retirement savings, and investments or liquid cash?

@thatguythere98 2 месяца назад

I can't wait until I can start putting significant money into investments. I'm currently in the process of paying off my student loans and it should take 2 years at the rate I'm going. Luckily I was able to get a couple thousand in seed money invested before student loan payments resumed. Great video!

@nomadicpugilist3480 2 месяца назад

Just my obligatory comment for the algorithm so Humphrey can get his. I always learn from you man, thanks for another video.

@humphrey 2 месяца назад

I appreciate that!

@hunterandchavy 2 месяца назад

I would start with $1000 savings that is $83.33 per month. I think with the amount we spend on Netflix or Cellphone bills… we should make it a priority to have an emergency 🚨 fund. Now we have different ways we get extra cash from side hustles like grub hub, uber driving or Amazon drivers . Thanks Humphrey

@ZealousWins 2 месяца назад

Emergency funds are key to making sure you don't go under. Smart move.

@rssmith289 2 месяца назад

I really enjoy your videos especially the one about the Chinese and how they save money. We started saving for retirement at age 25 and we are now in our mid to late 50's. The $25K that we started with is now about $850K. Of course, we endured the 2008 financial crisis and even with that horrific time we were able to stay the course. I will never use a stockbrober anynore. Videos like these can educate better than someone making a commission. No one is going to care about your money more than you! Also, I meal prep all my meals because I am a homemaker and food is one area that I can control for my husband and I.

@teachersherrie8420 2 месяца назад

Do I count my state pension when adding up my retirement savings? I also have 401K & Roth IRA.

@Millennial-Investor1914 2 месяца назад

Damn that ice coffee looked good 👍🏽

@the.true.mjdavis 2 месяца назад

I just hit $100,000 net worth this last quarter! 💪

@humphrey 2 месяца назад

Let’s go!

@Hinru13 2 месяца назад

Congratulations buddy!

@LeveragedFinance 2 месяца назад

How did you do it before age 30

@mp22422 2 месяца назад

Congrats!!😁

@the.true.mjdavis 2 месяца назад

@@LeveragedFinance I didn't. I am in my early 40's. I didn't start my career until 10 years ago. Having a stable income that I could really budget on helped a lot.

@user-my8pq4eq3c 2 месяца назад

That mower took that flag out.

@humphrey 2 месяца назад

Lmao!

@CelesteMSun 2 месяца назад

I liked it even when the ad is still playing 😂. I followed this channel since last last year when Humphrey made a clip on which stocks to buy. I followed him and bought *** ETF and it grew 60% in one year… so I don’t care if people leave negative comments. I just want to say thank you and please continue to be you and say what you want to say. I have been wanting to write this comment for a while. 😊

@Mabena430 Месяц назад

What etf did you buy

@spongebobubu 2 месяца назад

Would like to get your advise on whether it’s correct to use compound interest calculator to calculate potential returns of a dollar cost average strategy on an index fund? Thank you.

@ljaaraica3372 2 месяца назад

Moral of the story, get a hold of a million dollars, bam!

@hanneman4509 2 месяца назад

I haven't watched this yet, buy are 3 of the steps 'stop eating out at restaurants', 'get a side hustle/job" and "open an HYSA"? Am I close?

@joshuairvin9661 Месяц назад

😂

@Jungernaut 2 месяца назад

This was 🔥

@humphrey 2 месяца назад

thank you sir!

@cyclingbroshk4940 2 месяца назад

I am interested to know if you consider a 6 months time deposit at 5% an investment?

@deejkeithanmusic 2 месяца назад

What is your take on US bonds?

@OlasunkanmiAdeniyi455 2 месяца назад

Very helpful video... Thank you

@humphrey 2 месяца назад

Most welcome 😊

@kristofferestrella7195 Месяц назад

Why only 2.1k likes?! This guy gives solid advice!

@chrisdurig-oq6ve 2 месяца назад

How do you open a brokerage account?

@toothybj 2 месяца назад

My main retirement portfolio is just under $170k and i’m going to try implementing some of these things. It really does start to grow faster as it gets higher. Getting it over $100k seemed to take forever. Setting a goal for myself of getting it to $225k by end of 2024.

@cdzubnar 2 месяца назад

What is your advice on keeping your 401k account from a prior job separate or rolling it into the new company’s retirement account. Also say someone had 70k in a former employers 401k account and has 30k in there currently new employers 401k account does that still count for getting the benefits of reaching your first 100k even though they’re in two separate accounts?

@edwinroyal9734 2 месяца назад

It doesn't matter how many accounts your investments are spread over. It's just easier to manage less accounts. The only reason I would avoid rolling over a 401k from a previous employer is if it had lower fees or better types of investments to choose from. Otherwise, I would just roll it over so you have less accounts to pay attention to.

@Saustin97 2 месяца назад

The fact he does this for free

@Courtney-Alice-Gargani 2 месяца назад

❤ this video. I am working on an online business.

@humphrey 2 месяца назад

nice Courtney

@PhongNguyen-rc8cw 2 месяца назад

Does saving in a 401k count? Or are you talking about savings that you can use anytime without penalty?

@tamizhkadhir7613 2 месяца назад

Hello Sir, am from India. How to contact you Sir??

@zaidkvex3339 2 месяца назад

Hey Humphrey I’v been watching your videos for a while now, and I have a question don’t know if you will be able to answer but I thought I’d give it a shot. I already started investing in ETF funds, but I have 25k on car loan that is taking a lot from my pocket, interest rate is at 10.4% because I’m 23 years old I do wanna keep investing now that I’m young what would you recommend me to do, Should I focus on pay my debt or keep investing ? Or should I do both ? Thanks for reading it

@Defy_Convention 2 месяца назад

Pay it off that's a guaranteed 10 percent return on investment.

@edwinroyal9734 2 месяца назад

If your company has a 401k match that's the only investing you should be doing until your high interest debt is paid off. Pay that car off as fast as possible. If you don't think you can pay it off in a reasonable amount of time, you might want to consider getting a cheaper car or even going without a car if you're lucky enough to be able to walk or use the bus to get everywhere. Cars are expensive, but most of us need them. Just try to spend as little as possible on them so you have more margin to save and enjoy the rest of your income. Oh, one more thing. Don't be like my dumb friends who avoid getting their cars properly serviced and maintained and then always complaining about how they always have to buy another car because the last one wasn't reliable... yeah, go figure 🙄. Anyway, good luck!

@MrBraceface216 2 месяца назад

Right now I’m maxing out my Roth IRA and saving the rest in my high yield savings account. Hopefully going to buy a second property to rent soon🤞🏼

@by9199 2 месяца назад

When you say save 100k, does that mean you have 100k liquid or 100k in assets (retirement, stock, house etc.)?

@humphrey 2 месяца назад

assets

@by9199 2 месяца назад

Appreciate it

@brigibb Месяц назад

Ay unintended pun 😏

@noreenn6976 Месяц назад

Great seeing you on George Kamel's channel, how was the donut?

@Ronald-de9yj 2 месяца назад

Doesn't matter if $1 or $100. Be frugal to get rich.

@ddc93760 2 месяца назад

🎉🎉🎉🎉

@owenkariuki4438 2 месяца назад

Never been this early tbh 😂

@humphrey 2 месяца назад

welcome :D

@matanyaholmes3964 2 месяца назад

Same lol

@Courtney-Alice-Gargani 2 месяца назад

Happy April Fool’s Day. Do you play pranks on people on April Fool’s Day?

@humphrey 2 месяца назад

no haha i am straight-forward

@SmugRabbit 2 месяца назад

@@humphrey Thats what someone who plays practical jokes would say

@deanszymanski2031 Месяц назад

Get a job !!! Why didn't I think of that 🤦 😂

@LuisHernandez-rk2tp 2 месяца назад

I reached 100k 8 years ago and threw it all into buying a house. I just saved another 100k.

@OneTimeImp902 2 месяца назад

I fully expected this to be an April's Fools but it doesn't sound like it so far haha

@humphrey 2 месяца назад

haha its not!

@jakefarmer3122 2 месяца назад

"graham stephen has made a great name for himself" - sure sounds like april fools to me.

@KarenLynnOlsen 2 месяца назад

I was advised to diversify my portfolio among several assets such as stocks and bonds since this can protect my portfolio for retirement of about $750k. I want to know: Do I keep contributing to my portfolio in these unstable markets, or do I look into alternative sectors?

@user-fb2hk7vu3q 2 месяца назад

In my opinion i feel right now e commence among other sectors are expected to really see growth but who know i might be wrong, These days the market is filled with surprises.

@rineleff2009 2 месяца назад

With the current market activities My advice to anyone starting out in the market is to seek guidance as its the best way to build long term wealth while managing your risk and emotions with the passive investing strategy.

@KarenLynnOlsen 2 месяца назад

Interesting, I’ve actually been looking into getting one, lately the news I've been seeing in the market hasn't been so encouraging. If you don't mind me asking who's the person guiding you?

@rineleff2009 2 месяца назад

She goes by ‘Wendy Birkett” I suggest you look her up. To be honest, I almost didn't buy the idea of letting someone handle growing my finance, but so glad I did.

@filipxavier1041 2 месяца назад

This is crazy If anyone ever told me I will be randomly be surfing on the net and come across individuals talk about Wendy Birkett will for sure doubt but this is crazy I know her and love her strategy so much wow thanks for preaching the gospel…

@SmugRabbit 2 месяца назад

Also, saved/invested 65K this year so far. On track to hit my first 100K saved in the next 3 months

@bottomtiercollector Месяц назад

I have a $250k net worth together with my wife according to my financial planner. It sure doesn't feel like it because the emergency fund is considerably low and the IRA account I have is pretty low (40k) for my age (34)... Working towards more income streams, paying off debt and staying away from debt and building that wealth

@SmugRabbit 2 месяца назад

Is there a reason why you prefer Wealthfront over betterment?

@redWeddings 2 месяца назад

Be frugal and jeah, here is this app so you can get some credit

@soapa4279 2 месяца назад

Build wealth with $0 *Bank robbers liked this video*

@siakelley2345 2 месяца назад

I seen this video before

@edwinroyal9734 2 месяца назад

Yeah, literally just last week! I was expecting it to be new content...

@beardedpanda5086 2 месяца назад

I hear you say that 100,000 dollar mile stone a lot, but are you referring to having that consolidated in one account or does it matter if that is spread across multiple accounts? It seems in one account it will give you the compounding you keep talking about.

@edwinroyal9734 2 месяца назад

It doesn't matter how many accounts you have. Compounding will work the same either way. It would be really cool if you could have it all in one account like a Roth IRA, though. But most people have an employer sponsored 401k or another type of account.

@beardedpanda5086 2 месяца назад

@@edwinroyal9734 interesting. It seems the wisdom is that 100k will compound faster on itself if it’s in one place. But I’ve not heard anyone say that out right. I have mine spread between high yeild 401k Roth IRA and investment account. So was trying to find the optimum strategy.

@Gayle0001 Месяц назад

I was listening and engaged until you promoted lines of credit. Nope!

@llchew7784 2 месяца назад

❤

@humphrey 2 месяца назад

thank you for the heart!

@llchew7784 2 месяца назад

@@humphrey I still use the McD app for 0.99 ice coffee and fries deals😂

@supercruchynoodle 2 месяца назад

Do you really have to plug in an ad in the middle of the video and not at the beginning or end? I pay 20 bucks a month for NO ADS. Why don’t you have premium settings?

@Poo-zg8ot 2 месяца назад

NAG NAG NAG.

@marklechadores5574 2 месяца назад

Black rifle coffee is better

@JakeP2013 Месяц назад

Having $0 sounds nice, been in the negatives for too long 😅

@HelenHoltman 2 месяца назад

Taking early notes from Warren as to the importance of sound asset diversification and risk management It can’t be overstated. I’ve been trying to grow my portfolio of $300K for sometime now, I would greatly appreciate any other suggestions.

@KristynPapik 2 месяца назад

Absolutely, making informed and thoughtful decisions when it comes to finances is crucial. Whether it's budgeting, investing, or managing debt, having a plan and taking the right steps can lead to financial security and success.

@onetricklux677 2 месяца назад

Where to get 8% interest rate on money? Savings accounts I see are 4.5%

@Defy_Convention 2 месяца назад

Just dump every dime you've got in the market baby it only goes uppy uppy uppy.

@GkDann 2 месяца назад

The best thing and the simplest thing you could do is make sure you're investing $1000 into your brokerage or retirement account every month. If you aren't able to, figure out how to come up with some extra cash. Your future self needs it.

@Wendytsang12 2 месяца назад

Love this! Investing isn't as difficult as many think. It requires diligence, which people often lack. If you are starting out with a big chunk, that's where a financial advisor comes in handy.

@blind_luck_ 2 месяца назад

Low six-figure income, no debt, nearing mortgage payoff ($800k property), age 43. Invested over 15x annual salary, amazed by focus on scraping by in retirement. Aim for surplus. My goal: retire at 50 with $5M. Unless the markets crash, these two points should align. I'm quite lucky to have started working with a financial advisor early.

@AntagonisticAsian 2 месяца назад

This is mind blowing! As a young adult inheriting about $500k and new to stock investing, I'd greatly appreciate it if you could direct me to your advisor. I can't afford to make costly mistakes.

@blind_luck_ 2 месяца назад

"Theresa Dana Peek" is the licensed advisor I use. Just research the name. You’d find necessary details to work with to set up an appointment.

@AntagonisticAsian 2 месяца назад

Thanks for sharing. I curiously searched for her full name and her website popped up immediately. I looked through her credentials and did my due diligence before contacting her

@Miggy2222 2 месяца назад

Ufff - Empire thrive, $8 a month to borrow $250? What’s the APR of that I’m not sure why you would recommend a debt product as a “way to build wealth” Bad sponsor

@empower Месяц назад

The Empower subscription gives you full access to easy-to-use tools to improve your financial health, like automatic savings, credit score monitoring, spend tracking, and a rewards debit card - all on top of Thrive. And with Thrive, when you schedule a full, automatic repayment on your next paycheck date you pay 0% APR.

@DirtyBob154 2 месяца назад

Is this an April fools joke?

@95BlockCaptain 2 месяца назад

8th

@humphrey 2 месяца назад

nice Block!

@rudebee15 2 месяца назад

Tax the rich so we can provide a safety net and we can be more free and build wealth? No that’s too complicated.

@alucard2057 2 месяца назад

If you only make $40k, work a second job for life so you make more than $40k. Thanks for the advice!

@seas334 Месяц назад

I will be forever grateful to you, you changed my entire life and I will continue to preach on your behalf for the whole world to hear you saved me from huge financial debt with just a small investment, thank you Lucy Baldwin.

@huiqing822 Месяц назад

I'm surprised that you just mentioned Lucy Baldwin here. I met her at a conference in 2018 and we have been working together ever since.

@Zhang521 Месяц назад

Lucy' expertise in customizing investment portfolios based on changing market conditions and personal risk profiles is exceptional. It's not a one-size-fits-all approach, which is crucial in crypto investing.

@CHONGLIN366 Месяц назад

The very first time we tried, we invested $1400 and after a week, we received $5230. That really helped us a lot to pay up our bills.

@AnnaGeorges-xv6he Месяц назад

You trade with Lucy Baldwin too? Wow that woman has been a blessing to me and my family.

@GUOZHI22 Месяц назад

I'm new at this, please how can I reach her?

@junky802 Месяц назад

If your job let's you collect pto, even better if it rolls over. See if you can use pto o. A day off as to get the pay without the day off. It's like working a extra day without working it

@DoctorSoulis 2 месяца назад

Third

@humphrey 2 месяца назад

lets go! welcome

@ryo1549 2 месяца назад

RU-vid videos on building wealth: just make more money. 🤦Why didnt I think of that?

@shivanshu500 Месяц назад

Sir, I am an Indian citizen, can I use this application, but this application is not available in my country, so can I use it with the help of VPN? Love From India ❤

@ryanmelendez625 2 месяца назад

Second

@humphrey 2 месяца назад

lets go!!!!

@chasingrainbowsbackwards 2 месяца назад

First

@humphrey 2 месяца назад

lets go

@Parthsean 2 месяца назад

You should give some share of your wealth to Naval for his wisdom, you are literally saying word to word from his book lol.

@Aenion11 2 месяца назад

Why use a grifter like Graham as an example of success?

@Peteliao 2 месяца назад

Hi everyone, I just sold my home in Ft. Lauderdale, FL for 3.8 million. What should I do with the money? Should I put like 3/4 of it in the stock market and enjoy remaining? I am 40 years old and single guy. I plan on retiring in Thailand, so its why I sold it.

@forecaster.biz_official 2 месяца назад

1.find an undervalued stock 2.check if fundamentals are solid and efficent ...if yes 3. BUY and Wait untill its overvalued. 4. repeat :-)

@wewhoareabouttodiesaluteyo9303 Месяц назад

Well, that makes me more confident. I have three sources of income. I have my primary paycheck, I have a high yield savings account, and I have investment income that I am paid in dividends. But am I close to $100k? Nope! On hand, I have like less than $25k if I were to sell all my ETFs in my brokerage, transfer all of my money out of my high yield and combine all of that with what I have in checking. *sigh* I am not counting ROTH or any of my money saved in work ROTH 401k and 457b.