Financial adviser brother here is telling us how he spent 2 million dollars last year and why and where he is currently at with money and work. Credit = jamesmarianono
On one thing he is right, 2 million dollars in debt will make you work harder, but that doesn't mean it will get you out of debt any sooner most of the time…
If that how you see life I sorry don't spend more than you have like if you can't pay an apartment or house don't go looking for one not to mention on average that is only supposed to be 1/3 of income already for you to have it work properly and I'd you see doctors as like chronic regularly then that adds up to making that percent drop to cover that control people don't understand what it means to work anymore you think your parents wanted that 9-5 no but there mentality allowed them to adapt and still do more out there I on boarder of milenials and gen z and I even know this and got that mentality down
the better question is how tf did he got that much money loaned in the first place. like what? which bank gives out loans that high, to people that wont make millions
@@jamesmoffett135 that's not related to what I am saying, that's not what I said and you got it all wrong. My point, in my comment, was that getting into huge debt doesn't help you become a 'better" nor "harder" worker, does not help wear away the debt much faster (ever if you work yourself to death) and that getting into deep financial Indebtedness doesn't correlate to, nor assure you any stability in any way, on the contrary, badly managed financial decisions can make you spiral down into racking more debt, paying higher interests for longer periods of time and drive you into inability to cover payments and even bankruptcy; it's not that deep really. Paying or covering a transaction in installments or having a loan, insurance or payment plan can be helpful and beneficial in certain cases for certain things but certainly not with racking up debt out of nowhere, especially if that isn't going to lead to any investment or financial stability There's a reason there are so many homeless people who have a paying job from 9 to 5 or even car, insurances and yes, debt. Being indebt is not a choice sometimes but getting services or goods that you cannot afford knowing that you can go into debt and don't have financial stability is even stupider, to get a 2 million dollar debt when you cannot cover it or don't have a fixed income to compensate for it, it's simply wrong, it's plain dumb. These are just simple maths. The raw data, the hard numbers. It's just maths. There's nothing philosophical, metaphysical nor esoterical about my comment, having an output bigger than the input is unsustainable, it's not me it's the laws of the universe.
@@chrisalexander9264 If he's in that much debt no matter how much he makes he won't be able to pay it back. Assuming it's all loans with interest rates that are double digits.
Honestly - I didn't even want to watch this video, because I was afraid I wouldn't be able to stop myself from punching the screen and breaking my computer.
@@EnnVee959 I stick to regular trading (like BTC spot). I think he does futures because he works alot of hours and stares at the screen. Futures is risky. I quit doing futures.
I recently met a 30 something woman that had over $150K in student loan debt for a useless liberal arts degree. $80K in credit card debt. And a BMW with payments that exceeded her income.
@@nucleargrizzly1776 good to hear that murica resembles romania in that aspect...our country is full of pimps and evasionists with expensive cars and people with credits up their asses to buy expensive cars( that seems to be out main ocupation here, somehow buying expensive cars is a lifestyle lol)
@AtheistfanGuava tbh I wouldn't be surprised if she doing that to prove a point to many liberals look at the wrong way in how to live from all social media I see out there
@@anselpeneloperainblossom-s3489 how? No one gonna give you 5 dollars without you paying back businesses earn off the customer as much se earn off our job
From that short video I believe he earns his money from the stock market. If you ask where he got his money to invest… 99% chance it was from his parents 😂. Wait until the market collapses.
I'm pretty sure that these obviously dumb videos, which you see on all platforms, are stupid on purpose. It's all about getting views, and watching a societal train wreck is entertainment. I'm glad that MaximBady makes a career out of it, but I don't take any of it seriously.
"money is not to be invested for your future freedom." -- This is a phrase used by the little emperors of China's (See See Pee) elite. The 70 hours to pay off debt is the time take for the parents to collect bribes.
@@zilun Point? All of them have enough money to live comfortably for the rest of their lives without investing any of their money. Their companies make more than enough money as is.
I love how the broke Asian dude is all serious, trying to sound convincing that spending all your money is good, while cutting to Maxim calling him maximum delulu in every way possible.
"Spend all your money it's great!" "I'm now drowning in debt and will never be able to afford a house, also my lambo was repossessed so I have nowhere to sleep."
Yeah? I'm a poor billionaire, I have three wives, I live in a huge megayacht and work at Blackrock because I hate working there - no money doesn't make you happy
I never thought I'd see someone promote the complete opposite of what I'm doing. I'm trying to get to the point where I'm paid to not work and he's trying to work 2 full-time jobs to be broke.
I have been debt free since 2010. Retired since 2019 at 47 years old. For me there is no material possession on the face of the earth that beats not having to go to work for the rest of your life. This idiot turned himself into a wage slave working 70 hours a week for a Lamborghini! 🤣
I mean, even at a bare minimum you can earn around 5% interest on it and make around 100,000k a year, minus taxes I suppose. That is without looking at some pretty safe investment strategies that can net you a decent return.
@@williamvarga4181 at my country, with US$2 million, just place them in FD, u can live comfortably every month with the interest only. use some to apply for a car loan and apartment (mortgage) even
On a serious note having a positive mental attitude will help you go further In life. So you should say, I have a lavish, steady, dependable Income consistent with moral Integrity and mutual benefit.
Have watched enough of his content till date to correctly know the moments he's definitely gonna go for the legendary "Jeeeeeeeeeeeesus Christ on a motorbike..."😅
I spent all of my money. It took me 3.5 years to spend them on mostly essentials. Rent, food etc. And the freedom to not work for a while. I am broke, yes, but at least I am not in debt.
I was thinking he was trolling but after saying he works 70 hours and is still in debt I have no clue anymore. Social media is so stupid lol Remember the good old times when we weren't social but at least we were smart? Everytime I see social media today makes me kinda miss those times lol
Yes, spend a mountain of money you don't own and then work yourself to death trying to repay it and whatever interest your bank demands. Amazing plan, I see no downsides
He's still rich. You can only make money with stock trading if you have lots of money. If you have 100 bucks you can work 3000 hours and don't make money.
"Money is not meant to be saved or invested for future freedom, it's meant to be spent." I mean, he's not totally, technically wrong here, at least with the latter part. Money is indeed meant to be spent but wisely, not to fulfill every fancy and whim out there. Sure, you can have those, too, but not, like, all the time or anything. Also, Mr. 2-million-dollars, it's actually good to have some money saved, even in cash. Then when catastrophe hits, you won't be left without nothing! Man, the economic skills of some people are just... delulu!
Dude sounds like one of those guys that will go and do a GoFundMe and say how he will use the money on something important, but then uses the money for bullshit.
With two mill, you can live quite a good life and never work again. Put everything on MSCI World and MSCI Emerging Markets and just live from the dividends...
If I don't have enough money in my account, my card declines. So I'm never able to overspend. I also never borrow money because it means I have to pay it back. No debt for me thanks.
I dont believe anything people say on social media. Most say things for attention, likes and views. It seems like a contest of who can do or say the most ridiculous things. Any publicity is good publicity. It will get people to hate watch their videos.
He will be working 70+ hrs and possibly need a second income for the next 30+ years of his life to pay off the debt. Oh wait, I still didn't considered the interest rate of the money he borrowed on top of that. He will be working for the rest of his life.
I had a similar outlook to finances when I was in my early 20's. Fortunately, I got all my debts written off. But sometimes it bugs me that I could have been a millionaire by now if I'd just saved the money, not even invested or whatever, just put it in the bank. That said, part of my only redeeming feature, stems from that part of my life, particularly using a lot of 'herbs' and 'pharmaceuticals', although I'd prefer to have lived in ignorant bliss.
I'm gonna take a shot in the dark here... he is (or was) a genius day trader. Anyone notice the graph on his PC screen? If not, that's okay. He also mentioned that he "spent $2M in one year and had the time of his life". Most people who pull stunts like that are on Instagram showing off when they aren't busy day trading. But most day traders are smart enough not to pull stunts like that and they prefer to remain anonymous. He'll be right back behind that screen after another couple 70 hour weeks to flip that hard work and pay off his debts and get rich again. I give it a year. And he'll be right back to doing dumb shit. Just my Sherlock Holmes 2 cents.
$2mil, if it's 5% interest then that's $100k per year in interest alone. Yep he would be working 70hr per week to pay off his debt while eating cold beans for the next 20-30 years. unless you have a gig that can pay it off in couple years (in which case far better to stick it out for couple years then enjoy the good life on your own freedom), ask yourself if you can see yourself still working 70-80hr per week in 20-30 years time to still be paying off this debt.
