I started at 38yrs old from $1K in chequing and no savings and now have $50K in savings and $54K in investments and bought a condo at age of 41. 1) I worked hard and got several increases 2) COVID presented a major savings opportunity 3) now this might be controversial but I saved as much as I could. I was aggressive about it. I know people find the idea of giving up their daily Starbucks but it really makes a difference. Make coffee at home.
I am technically broke at 30, but not because i didn't use to earn a lot of money. I moved to another country because I got married. My employer hid the fact they are not okay with me moving there and fired me. I can't find a job here because the country's laws are very unfriendly toward foreigners (non-citizens, no local passport), and I can't find a job in my own country because the laws there don't really allow remote work (companies can make it work, but nobody wants to).
Good tips. Budgeting is definitely the first step. I went from paycheck to paycheck to saving and investing in a year. And now I have a budget I just increase my savings every time I get a raise. And with current inflation it doesn't hurt me as bad. Since more money comes in than I spend.
Bruh, I've been preaching this to friends and family but the excuses I get from them is interesting so I stopped and started minding my business. No matter how good you think you can be to people, if they aren't ready or serious, you can't help them.. just leave them be. Great video!!
Hey, Karson, I’m glad I watched this. No fluff, insightful and encouraging. While I love marketing, so many videos are gimmicky click bait. And while I like humor and good editing, your video is refreshingly simple and I appreciate it. Liked and subscribed.
As the saying goes " Common sense is not common!" You always advocate common sense measures which are immensely effective. Great knowledge sharing. Thanks 👍
Fuck if you start saving even 10% and stick it into your 401Kwhen you start working at 17 or w/e, you'll be ahead of 95%+ of people your age by 30. wish someone told me this.Sounds like a long time but time flies FAST
Please remember to tell your audience that you're not giving financial advice. I don't say this to be mean, just that making content itself is a business, and a lot of businesses get sued. Be careful, good content! Just your adsense popping up is giving me ideas to start my own finance channel as well, haha 😂
Great advice right there! Even if it is in the description it’s worth covering yourself by referring to it in the video. First watch here, great content. Good luck!
i am entering 40yo, after pay all utilities/Food i got 100usd+ in bank but i own/Living(no worry rent) my own house 3bedroom in meddle of town.. should i rent out 2 bedroom? get second job? and NO child or married(i been smart use condom) have zero dependent.
Karson, your insight and practical lamens terms approach to investing has been so helpful to me. I just started a job as a process coordinator with aspirations to job hop my way to a six figure income in project management. How much experience should I have before applying for new positions? Any advice is appreciated. Thanks for the awesome content!
When you say “savings”, does this mean investments, cash savings, or both? Im about halfway to my 6-month E-fund goal so my cash is lower than that average savings amount, but I have quite a bit in my IRA and 401k
I would save 50% and invest 50% after I save six months of expenses. If investing in the stock market I would buy mutual funds. Hope this helps. Do this ONLY IF YOU HAVE INCOME COMING IN. If no job/income then put in high yield savings solely.
wow with only 27000 subscribers and this video only having 646 views you are making nearly $2000 per month is impressive... even more impressive is your content with deep analysis... keep up the good work
@@KarsonGaule Hi Karson, first generation Somaii immigrant. We had no money growing up, now I have 5-7k a month in disposable income. What would you do with that money? What books would you read? what podcasts would you watch? I would really appreciate it. I'm too tempted to get a AMG or a Suburu WRZ but I know better!
Most people on these channels are too young to provide seasoned guidance; however, I particularly liked the investment of $200 per day into the ETF. That’s a pretty good tactic; however, the costs of buying every day will eat into the investment gains. Transaction costs eliminate gains, especially at $200 per day; however, over time the costs can recover, but the investment must earn quite a bit to overcome time & the initial investment. It’s interesting to watch, especially when RU-vid becomes an influencers main source of income. Good luck!
That might be true of classic brokerage firms, but my experience with Robinhood (and their whole gimmick) is no fee investing. I invested last week and have successfully only lost the market fluctuation percentages. So far as I can tell.
I mean about if I started looking ways to make or earn savings at the age 20s it would be better if anyone make some savings in thier financial freedom?
I’m 22 but I can only save 1000 monthly, a year ago if you would’ve asked me I could only save 20$ these videos help sm, thank you!! Plus I moved states and this state doesn’t take as much taxes 😂 living is higher though but I make so much more at my new job fr
Maybe you can think about job that you could do past 65 that would still give you a good quality of life. My mom tutors kids remotely and make a great hourly age. Maybe you can develop a skill that would allow you to work part time as you get older. Also consider other types of security besides money. Maybe you could garden to decrease your food budget. Best of luck.
Well no if you wanted X and now you do not have X I would say your as far behind as you think. There is no way your not where you think your at? If your making content in this space on these types of topics it is safe to say you know how to count and math has never lied to me ever.
@@KarsonGaule fair enough 😅 its just I commented about investing and suggested a couple of books on investing with a bit of background instead of initially learning it from you tube. But mainly wanted to say your content is great and looking forward for more 🤙🏽
