I've found that surrounding yourself not only with the right people physically but mentally as well is one of the biggest keys to reprogramming your mind to adopt the habits of wealthy people. You don't have to be friends with millionaires to learn from them these days thanks to podcasts, books, etc. Nice video Vincent!
Absolutely! I found mentors through casual conversations at work on how to stay out of debt, pay house off early and save for retirement. Best education yet. ❤
Building wealth involves developing good habits like regularly putting money away in intervals for solid investments. Instead of trying to predict and prognosticate the stability of the market and precisely when the change is going to happen, a better strategy is simply having a portfolio that’s well prepared for any eventually, that’s how some folks' been averaging 150K every 7week these past 4months according to Bloomberg.
The US-Stock Mrkt had been on it’s longest bull-run in history, so the mass hysteria and panic is relatable considering we’re not accustomed to such troubled mrkts, but there are avenues lurking around if you know where to look. My husband and I are retiring this year with over $7,000,000 in tax deferred investments. up until 3 years ago we were 100% in the S&P. During bear markets we had a perfect plan. We got an investment manager in our corner and didn’t look at our portfolio for nearly a year..
I believe the safest way to invest is to craft an all weather portfolio. It’s a life time research and there are tons of great resources like books and journals and research papers
Not making upto a million before retirement is an unfulfilled retirement. I’m 54 and my wife is 50 . We are both retired with over $3million in net worth and no debts. Currently living smart and frugal with our money. No longer putting blames on the FED for our misfortunes. Saving and investing lifestyle in the stock market made it possible for us this early. Even till now, we earn weekly.
With her assistance, i was able to diversify my 4k$ portfolio across multiple markets, earning over 9k$ in net profits from high end dividend yielding stocks, ETFs, and bonds in just a few months.
I have watched Dave Ramsey for many years and am happy to have been debt free for over two years. I am currently stuck between saving and investing. I don’t really have much knowledge at all about investing.
Its just disciplines/consistency/iteration is all u need least make it too middle class if not higher. Main prob is most people quit b4 they reach expoential learning curve, thry fail to build the basic mental infrastructure in some domain/field -> everything after is where real growth actually happens. I can almost guarantee if you spend next 5 years focsuing on 1 craft (not focusing on money) and just growing ur going be fine.
*"The more you learn the more you earn."* I've become so jaded on the topic, but this quote is so undeniably true. It's the only wealth building advice I listen to anymore. The only advice that is able to crack my hard shell and get through to me. My one and only problem though, is I'm a jack of all trades and master of none. I have way too many interests that I'm unable to pick just one. I could easily become the next big phonk house artist if I really wanted to. But thats just one of hundreds of interests I have. I just can't pick.
I think more of this video should have focused on delaying gratification....especially in regards to starting a business. Almost no businesses are successful right out the gate so you are literally forced to endure delaying gratification. Great video and love the content you make!
I couldn't agree more! The act of resisting an impulse to take an immediately available reward in the hope of obtaining a more-valued reward in the future. Saving money for retirement instead of spending it now is also an example.
I agree! Focusing more on the concept of delaying gratification, especially in the context of starting a business, would have been valuable. Most successful businesses do require patience and delayed gratification, and highlighting this aspect can provide important insights. The video is great, and the content is highly appreciated! 🚀📺👍
Agree! This ability to delay gratification is a key trait that separates those who thrive in the business world from those who may struggle to sustain their ventures.
Indeed, Emphasizing delayed gratification, particularly in entrepreneurship, would be valuable. Success often requires patience, and this insight would enhance the video. Great content!
I feel such a failure. Even though I studied sm and had many experiences... I still feel like that. I tried yt the past year but it's not working out. Today is a bad day.
Great video! Learning how to conform and reprogramming your mind is crucial. Failure is the only way to success. Wishing you all the best of luck on your endeavors!
@@VincentChan Mine keeps claiming it has lost it's magic touch! Maybe your suggestion of a new tiny light bulb will bring it to come up with new tiny yet brilliant ideas.
@@VincentChan self-efficacy and self-determination for those that passed their CRNA boards on their first attempt… i did not pass on my first attempt 😞 but was successful on the second time (mindset is everything…millionaire or success at your studies)
So I went to Welding Trade School a year ago. I have a crappy S7 Stick Welder, some rods, and even TIG Filler Metal Rods - but get this - not a SINGLE shop wants to hire me because I don't have 2 years of "muh experience". I don't know anyone who even wants to pay for Welding services.
Great video (as always) -- the delayed gratification comment feels like a topic for a whole other video! There really is something there to people, in life, not wanting to wait for two marshmallows. Perhaps a video on ways to build a stronger affinity for delayed gratification if you don't have it?
I disagree with the last point, there is no proof that the model for success isn't bias due to boomer era instead of the economy today. I have a feeling you are just reading off the books you read. A lot of those writers bias against millennials because a lot of them are probably boomers who wrote those books. I hope you did digest and understand their bias as well.
WE all know that not everybody can become rich so the whole research is fun but definitely misses out on the fact that rich benefit from the fact that most people are NOT
