The Growing Problem With Personal Finance YouTuber "Influencers"

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I have some bad news for you…
You are probably not going to be rich.
Not a particularly positive message to start a video on but its something that people need to hear from time to time.
Unfortunately, this is not something that most people want to hear, so there is no shortage of people out there that will tell you exactly the opposite, normally as a way to pitch you some kind of product.
Now of course most of you watching know that the RU-vid ads saying that you can earn 6 figures in a month by selling on Amazon, Forex trading, or flipping real estate are full of shit.
But they still all follow a pretty similar routine,
hey, you can get rich
as long as you are willing to do XYZ
while listening to the advice I give you!
Again when it turns out that this advice is something that you have to pay for, most people get wise to the fact that it’s all just a massive scam.
Of course some don’t, which is tragic and there really genuinely should be more done about this, but that’s a story for another time… or a Coffeezilla video.
Instead the focus of this video will be on a group of internet guru’s with much more influence, a much larger following, and much more credibility, the personal finance personalities.
So it’s time to learn how money works and find out why you probably shouldn’t be learning to work your money like these popular RU-vidrs might suggest.
#PersonalFinance #Investing #HowMoneyWorks
___________________________________________________________________________
Music by Epidemic Sound
Links to all channels mentioned in this video
Meet Kevin - / meetkevin
Coffeezilla - / @coffeezilla
Graham Stephan - / @grahamstephan
Andrei Jihk - / @andreijikh
The Plain Bagel - / @theplainbagel

Опубликовано:

28 сен 2024

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Комментарии : 2,9 тыс.

@colochapeligrosa 2 года назад

I was a big follower of all people mentioned here, but it didn't take long to realize the strategy: buy consistently, live below your means, have an emergency fund, buy low sell high and when the market is down, keep buying... There, I saved you hundreds of hours. Loved the video, thank you

@AndrewRMontoya 2 года назад

“People need to be reminded more than instructed” - Samuel Johnson Nothing wrong with making content that re-enforces good money habits.

@InvestingAlex 2 года назад

wrong, u can't time the market consistently over the long run hence buying low selling high is pipe dream. Your kind of advice could be gotten from some random financial advisor at a bank. The purpose of these video is to learn as much and as detail as possible about finance. Whether it's a good idea to act on these advice or not is up to the individual.

@evacody1249 2 года назад

🤦‍♂️ why is my cell phone bill so high. So upgrading every year and being on a payment plan. Either out right buy you're phone and go with a cheaper plan or buy a cheaper phone. But but I need it. No you don't need the flag ship phone. Just like you don't need that sports car or that 500,000+ dollar home. You only think you do.

@Sinoops 2 года назад

@@InvestingAlex It's true that you cannot time the market consistently, but that's why you don't sell. The longer you stay in the market the higher chance of roi.

@dlb550 2 года назад

@Jao Bai Dun You just said you can't time the market and then said put more money in when the market goes down, but then you might sit on money for 7-10 years waiting for the market to go down.. most normal people sould do dollar cost averaging in to an index fund, it's simply the easiest and most likely way to be "successful".

@TheOneWhoMightBe 3 года назад

"...no one is talking about how they lost their life savings flipping houses." I should make a RU-vid series on how I lost $80k on a house rehab. If I embrace the Art of Bullshit I might be able to stretch it to five, maybe six episodes?

@HowMoneyWorks 3 года назад

That's the spirit. If you plug your merch you might even make your money back.

@TheOneWhoMightBe 3 года назад

@@HowMoneyWorks "Don't forget to like, subscribe, and smash that bell like the fist of an angry god."

@WackadoodleMalarkey 3 года назад

I wonder if anyone would like to follow my follies planting corn and fixing junk😸

@kabloosh699 3 года назад

Pretty sure Dave Ramsey does do that and will remind you from time to time how he fucked up and blew everything and went broke, but managed to climb out of it and now he sells his technically "idiot proof" method of getting out of debt which has made him wildly successful. He just had to fuck up. That is actually something quite common for a lot of successful people. They all fucked up. Multiple times even, however they took the risk and eventually won in the end. Statistically, you are still going to lose, however you can't win if you don't play the game in the first place.

@nickh2053 3 года назад

If you don’t mind me asking, how did you lose 80k on a house rehab? Did you pay too much? Uncovered additional problems during renovation? Problems selling?

@CitizenKen01 2 года назад

Here’s a but of advice I learned from my grandfather who was an Accountant. “Sure being young and rich is more fun than being old and rich, but trust me you do not want to work your whole life to end up old and poor.” :/

@ImtokyotheDog 2 года назад

Financial RU-vidr: "Remember guys, investing is a marathon, not a race. Stick to your plan and in 20-30 years you'll have a good nest egg and a nice retirement." Same Financial RU-vidr: "Anyways, here's the 6 story mansion I bought at 22."

@garrettmoise1003 2 года назад

Exactly!! They are young and rich telling you to be old and rich😂😂😂

@fernando3061 Год назад

@Don K Or start a religion, at least that's what some dude in a library told me.

@fernando3061 Год назад

@Don K There you go yea, forgot about the tax exemption thing.

@thekrustychub5038 Год назад

@Don K fuck it i'll follow your crazy religion

@woodside4life Год назад

@@fernando3061 Daddy needs a new Porsche!

@lluewhyn 3 года назад

My father was studying to take the test to become a CFA. He eventually dropped it because most clients just wanted to know how to "Get rich quick", when his advice would be more like "How to get rich slowly".

@IncomeBoost42 3 года назад

Great channel. Graham is entertaining, Andrei is magical, Plain bagel is informative but Kevin is just wreckless. He once made a video on how emergency funds are useless and I was so incensed that I had to make a counter-video (which is the only counter-video I have ever done). Completely agree with your thinking - it’s refreshing to see creators who aren’t afraid to go against the grain and give people the hard truths when needed.

@2011hwalker Год назад

these clowns made a ton of money in the ridiculous stock market run of 2020-2021 and generally have no clue.

@GabrielMartinez-sd8pc 3 года назад

Been a Ramsey disciple for a while. Got out of debt. Built a 6 month emergency fund. 60% of income to savings and investments. Financially free. I know people don’t like him, but worked for me.

@kevinluu7024 3 года назад

Ramsey who?

@clandestinekits 3 года назад

@@kevinluu7024 Dave Ramsey

@freshtapcoke 3 года назад

And he gives away all the information you need on his show for free. He was definitely the one that changed my financial future.

@TheStonesQT93 3 года назад

No offense at all, but these are super basic principles. Charlie Munger has been harping on about this for decades (the dude is 97). This just tells me education systems are shit. Not your fault (mostly).

@KampsKnows 3 года назад

@@TheStonesQT93 lets assume the guys you’re talking to is in the younger side. I’m 26 and didn’t learn of Charlie until about 2 years ago. He can harp all day long but most young people aren’t trying to listen to or follow guys that are almost now 100 years old. Also, yes the education system is shit. You learn little except how to deal with people (hopefully). Glorified babysitting gig

@jedpratte 2 года назад

Graham and Ramsey did help me years ago. My wife and I were living in apartment and big car loans thinking we where smart. 7 years later we have a house almost paid for and zero debt. We are now learning how to progress further but we needed that start to get on track.

@sman96490 Год назад

The fact that you don't have a RU-vid channel of your own which is making you money while you're sleeping then I'm sorry you didn't learn anything from them. Don't worry, I'm in the same boat. I don't have a channel either.

@jedpratte Год назад

@@sman96490 hard to put the time in when ya own a business too :/

@arnoldbaidooupdates Год назад

So they gave you a financial advice

@shaunsensei6948 Год назад

@@sman96490 lmao facts

@iwritechecksatthegrocerystore Год назад

@@sman96490 😂😂

@rushopolis 3 года назад

Never forget these guys made most of their fortunes being ENTERTAINERS! And most people don't have what it takes to be one.

@ErikPT 3 года назад

I disagree Kevin is a self learner who is obsessed with financial education, here’s why: real estate wealth doesn’t last when one asset is impaired. Graham is more of an entertainer. Kevin is a journalist? Real estate investor, big investor, who is also running for Governor.

@WestZ 3 года назад

@@ErikPT Graham sold real estate first

@nickh2053 3 года назад

@@WestZ Graham has made most of his money from RU-vid. He’s basically got a radio station coming out of his house.

@WestZ 3 года назад

@@nickh2053 noice! His inspiration was Dave Ramsey, after all 😅

@SebastianRocks1234 3 года назад

@@nickh2053 his initial millions were in real estate

@ddeine_ 3 года назад

I have rarely found a video on the internet that spoke to me so much as this video. All the respect to you for not being afraid to talk about of their BS practices. To this day I still fall for their excessive clickbait, thinking maybe I will learn at least 10% new stuff from those videos that were already so devoid of content and stretched over the 10 min mark just to bombard you with ads every 2 minutes and 2 sponsorships per video (Graham). Literally had to get YT Premium cause of him to prevent getting cancer. Everytime I watch one of his videos till the end I regret having wasted my time but his BS thumbnails get me everytime.

@scalarvector9678 2 года назад

Echoed with me man...haha

@MRkriegs Год назад

Just get an adblocker extension on pc and run RU-vid through an adblocker app on phone

@treek10k Год назад

Jesus Christ died for your sins on the cross. Repent and believe in him or you will be separated from God The Father for all eternity and face hell forever, for all eternity, never ending

@thirdedgeconcepts2271 3 года назад

As someone with two business degrees, an MBA and BBA in International Business, I find this channel incredibly valuable. I've learned more from you in the few weeks I've been watching than I did in school.

@AJGress Год назад

As someone who's currently on the same path you've walked, would you say that your BBA and MBA have been worth it?

@t.j.h.rudman5750 Год назад

@AJ That's a good question. What are you looking to do? I'll never discourage someone from studying, but I would caution you if you're doing so with loans. My MBA has gotten me jobs. Do your homework as to which schools you want to apply for. I'm happy I did it, but I had huge expectations for business school that didn't pan out the way I hoped. I imagined it would be more hands on. But that's just my experience. I hope this helps, AJ. Good luck, and please let me know how it goes and what you do!

@AJGress Год назад

@@t.j.h.rudman5750 Hi, thank you for your reply! Well, I'm currently in my last year of International Business. I did a specialization in Asian commerce, specifically that of the Japanese language and culture but I've done some projects on China, Singapore, and some other countries as well. My experience has been similar to yours. The study has been a little bit underwhelming. Due to Covid I also didn't get to go on exchange to Japan which really sucks because it was a big part of my study program. Now I'm finishing my studies and I do have some loans but I'm European so it's not as bad as the American system (low to no interest, lots of cuts on what you actually have to pay). Plus I made sure to save a lot of money in college, so I can pay off a good amount right after graduation. I'm considering doing a Master in either Marketing, Business Administration, or International Business in my hometown while working and living with my parents to keep costs low. Definitely not taking out another loan. I'm just wondering what my future prospects would look like after I'm done studying. I didn't grow up in a household with a lot of money so I know that my situation will definitely improve after I finish my studies and pay off my debts but since I don't have a lot of family members or connections who studied business I don't have a very good frame of reference for my future prospects.

@t.j.h.rudman5750 Год назад

@AJ It seems like you have a lot figured out. I would be upset about missing out on Japan too. You aren't giving yourself enough credit. I think you'll have to work hard after you graduate since you don't have the same opportunities as people with connections, but you're doing a great job right now with planning. I would also consider a finance option as people always need help with money. You could work in consulting cause it's face paced with lots of travel and high pay. Don't let the fact that other people have connections ruin the hard work you're doing. I've seen the people with connections fizzle out and get fired, but people like you who have something to prove to the world, will flourish.

@AJGress Год назад

@@t.j.h.rudman5750 Thank you so much, man

@darius2640 3 года назад

someone had to say this, all those graham, kevin, ricky guys are all over my feed and they have been getting on my nerves so much. But there is a grain of gold in the barrel of crap, Plain bagel for example is amazing, I trust that guy he knows his stuff and doesnt take sides

@HowMoneyWorks 3 года назад

Retweet: The Plain Bagel. He’s fantastic

@ignazs.5816 3 года назад

Graham is the most annoying RU-vidr ever.

@Zippyser 3 года назад

Much anyway. He does slide into slight bias but overall fantastic.

@archvaldor 3 года назад

I strongly disagree. I can predict Plain Bagel's position on literally everything before I watch a video, its always this tedious random walker finance school corporate media take on everything which only takes you so far. I found his video on tesla a good example of this: he tries to analyze it like its a traditional car company when tesla is a thousand times more ambitious than that. That old school finance media thinking isn't that much help in the modern world.

@subzero3091 3 года назад

If you go to Graham's videos about credit, bank accounts, and long term investing hes extremely insightful and you get to see how to build a base of financial intelligence for yourself to build off of

@michaeldearman3668 3 года назад

I agree that caution should be used when listening to the opinions of financial youtubers, but many of these guys have helped me get started investing and growing that habit naturally. Currently, I am 22 and built up 12k in investments while I would have none without them.

@dhruvprajapati8801 3 года назад

Really how

@JayyJay92 Год назад

But realistically 12k in a perfect world should be expected if you worked from a starting age of say 16 by the time you’re 22. Most people are not moving outta home until 25 these days assuming you pay little to no rent / overhead you’d need to save 2k a year or less than 200$ a month for 6 years. Which seems very feasible , problem is most people spend all their money the minute they get it instead of just saving a little at a time.

@eliyahuw 3 года назад

I'm going to disagree with you here. They need to produce entertaining content regularly to get people like me to watch their stuff. Before I started watching them I tried doing things the way I thought I should. 6 years ago I hired a financial advisor who gave my wife and I terrible advice and sent us back nearly 10 years. 3 years ago I followed a stock tip from a friend and lost 50%. Ever since I started listening to them I started a Roth IRA and my Robinhood is doing pretty well, having earned back all the money I lost on the stock tip from 3 years ago. I know I'm not going to become wealthy like this but it has led to me making way better decisions with my money.

@CockatooDude 2 года назад

That's really the best way to take the advice of Graham and the lot, pay attention to the simple, practical things you can do right now and take the high risk stuff with a few grains of salt.

@lukemorgan6166 2 года назад

Bullshit

@se2664 2 года назад

Do you still have a 401k from your employer?

@ynie1 2 года назад

Towards the end of 2020, I was debating on buying a house since I was thinking that the housing market would collapse due to the pandemic. I watched a Graham Stephan video about the market dynamics and why that won't happen. Thankfully, I found one that needed a tiny bit of work, but overall was in great condition and bought it in a great neighborhood. In under 2 years, that house has skyrocketed by 34%. Even with the latest hikes in mortgage rates, houses around are still being bought up.

@bigkrazy15 3 года назад

I love the overall message, but it seems a little unfair to toss Ramsey on the list. He seems to steer people toward risk averse financial stability, not get rich quick schemes.

@AnimeBeefRandoms Год назад

@@butlernov2006 Financial advice is personal and case-by-case in nature, so your comment makes no sense. Obviously, if someone has a spending problem (e.g expensive coffee) the advice would be to cut that. If it's an income problem then the advice is generally career advice. If you can't afford a car to get to work, take the bus.

@jesperengelbredt 3 года назад

Meet Kevin used to be interesting when he had actual content about something he know something about: Real Estate. Now he just sits and comments on stock prices, without having anymore clues than the average WSB Ape.

@Chris-es3wf 3 года назад

"Here we go come-on push it, buy the dip, buy the dip" 🎶

@MrTacoMan123 3 года назад

I mean, he wouldn't be doing it if it wasn't working right? He's raking in the views and $$$. People actually like watching that stuff i guess

@jesperengelbredt 3 года назад

@@MrTacoMan123 I dont doubt for a second he is doing it because it rakes in more dollars than the stuff he used to do. That doesn't make it anymore interesting for me personally to watch. It just tells me that money is more important to him that integrity. Its not like he was starving before he changed the content to this drivel.

@IncomeBoost42 2 года назад

I love this video so much, I had to comment twice! (sorry). Creators are often faced with the dilemma of making content that people want to hear and thus be successful on RU-vid (and rich) or make content that may upset them because it will burst their fantasy bubble, and therefore not likely to get as successful. The second option is the most ethical and sustainable way forward. In fact, people should thank you for opening their eyes and saving them trouble down the line. I know I would!

@cashrewardsnetwork 2 года назад

Amazing to see the growth of some of these channels! If you're a small channel, keep up the hard work and one day success will surely come your way!!

@jonathanhamel5203 3 года назад

Spencer Cornelia made a great video of how he lost money trying to flip houses. He’s one of the only ones who’s actually honest in their videos

@SenorJuan2023 3 года назад

Just because Spencer sucked at it doesn't mean it's not a viable strategy. LOL

@jonathanhamel5203 3 года назад

@@SenorJuan2023 never said it was a viable strategy, just nice to see someone be honest about their failures as an example of what not to do. I know plenty of people who have done well with flipping houses, but they typically do most of the work themselves

@r-type4945 3 года назад

Saw that video of him and it was really good and reflecting some harsh truths of investment reality.

@Paratet 3 года назад

Yeah. Spencer is really good. He's also not trying to sell anything. He's just trying to entertain. He's also one of the few that's really candid about how much money he makes, where it comes from, and how he learned how to earn a living. Key phrase being "earn a living" not "get rich" or "make money."

@NathanDowdyMedia 3 года назад

Kevin, Andrei, and Graham are all honest about their mistakes. Kevin literally has a video called "I fucked up" where he admits to breaking a promise with his subscribers. Andrei frequently talks about how he bought into the Coinbase IPO and got left holding the bag. Graham talks about how he rented hastily to some tenants who destroyed his first property and tied him up in court for over a year. They're honest.

@OCJoker2009 3 года назад

Finally someone speaking out on this issue. Its not possible 7 billion can be *rich/wealthy*.

@theAppleWizz 3 года назад

Who the f said that everyone will be rich?

@Je.rone_ 3 года назад

Am i the only person who sees the irony in this video? I can't be the only one

@lihlithembamazibuko5920 3 года назад

You aren't the only one

@casualtake1497 3 года назад

Its not irony when this one is self aware

@MrAssChapman 3 года назад

Graham is actually really good at emphasizing the importance of consistent investing, and slow, compounding long-term growth.

@wallpello_1534 3 года назад

100 percent, he is way better than keven

@marksilla8276 3 года назад

I just feel weird that most of his money came up from RU-vid. He started out as a real estate millionaire, but most of his money came from RU-vid(Even when he was way smaller than he is now). He does have sound financial advice but no one will become as rich from real estate or any other advice he gives. If you want to be Graham, be a youtuber and make financial advice videos and hope to hit it big. It's like the Dan Loks of the world but with less scammier products

@jam4448 3 года назад

@@marksilla8276 saaaame thoughts! I used to not like Graham because he's spewing out all these ("not") financial advice as if he made money with that. But he didn't he made money by being an influencer. So if he'll be teaching people how to be rich, he should be teaching people how to leverage your knowledge into becoming an influencer. But I still do watch them millenial money youtubers more on finance news and entertainment purposes.

@SimonTimbers 3 года назад

Graham is the only one Ive heard actually say “start a business” in some of his videos

@AA-il9pc 3 года назад

@@SimonTimbers “Start a business” won’t work for most people.

@ChrisKsan 2 года назад

Personally, I am a little bit confused at the moment. Years ago, based on what little knowledge I had about money and business and life, I was extremely skeptical about the "become rich young" people. At best my impression is that those people were exceptional in some way. Very rare. But then I found myself innundated with these gurus videos which I have watched over the years with a grain of salt. And then, the more I learned, I even eventually started to identify such people in real life and was lucky to stumble upon some of them, meeting some of them. Though most were just doing pretty good in the grand scheme of things, there were few who actually did become wealthy. Each with different stories and methods to achieve their financial positions. Which made me think: "wow! So such people DO exist! And although they are rare, they are not as rare as I thought! Which gave me confidence, boosted my curiosity to try my best to learn what I can from them and gather the confidence to steadily break away from the traditional construct I was raised in and try new things. Now, I'm far from having achieved any return, but I'm still learning and tip-toeing my way through. Which brings me to this confused state: I know full well that most of them out there are bs, but seems to me like not all are. Of which, how do I identify the legit gurus or whatever you want to call them, in order to study them appart from all the less obvious fakes?

@fvr12345 Год назад

I understand completely. I recommend the RU-vidr, Tae Kim (The Financial Tortoise). He’s just a normal guy who’s learned about personal finance himself and shares his journey. Most of what he knows is from books and a lot of his content summarizes themes from these books. No get rich overnight click bait videos like 99% of RU-vidrs. You should also put in the effort and actually read the books that he recommends. Basics from him are invest in a broad market index fund, hold forever, plan for retirement, live below your means, and don’t have unrealistic expectations.

@amazinglats6020 3 года назад

I feel as though legitimate personal finance channels give you great idea's as it's your responsibility to either employ them or not, and fit them to your specific needs.

@MattnUska Год назад

At the beginning of the video I kept thinking “any information that’s entertaining is mostly crap” then after you said basically the same thing I was thinking I realized How Money Works is mildly entertaining and mostly informative. Maybe you found the right mix for me.

@garethapplegate8551 2 года назад

Gotta love it when RU-vid sends you a passive income scam add during a video where the RU-vidr calls out those scam adds.

@KohrakGKOH 3 года назад

I watch a few personal finance channels and I have found some of the information very valuable, obviously I didn't just go and throw money to whatever they said to put money on but they did point me in the direction to do some research and I ended up finding really good places to invest my money that is making pretty decent returns. There is real value to some of them

@MrMajani 3 года назад

Also a lot of these RU-vid guys reach the point where their RU-vid money is the overwhelming majority of their success, which is a bit unsettling.

@rars0n 3 года назад

You have to realize as well that some of these guys promote frugality, and have already happily lived off a small amount of money for some period of time. Hence, when they start making decent money on RU-vid views, they're essentially set. It's not so much that they made their money via RU-vid, but that they're now sustaining enough income from it to not need any more. Most people who are worth over a million dollars are not sitting on cash in their bank accounts, they have the majority of that money invested and are earning a passive income. RU-vid on top of that can easily sustain a modest but comfortable lifestyle.

@tylerr6140 3 года назад

I have actually learned a lot from watching their videos and reading books. My finances are actually in the best state they have ever been in and I've learned a lot the past year about money. I don't think what they're doing is bad.

@crystalmendoza1450 2 года назад

I don't think he's saying they are bad, I think it's more of a lesson to hold a healthy level of skepticism and be cautious. Just because one thing works for one person doesn't mean it will work for another. At the end of the day, they are providing entertainment and selling you the idea of becoming rich, when in reality, it won't happen for most of us. But I agree, they still sometimes have good nuggets of information or help teach us things we didn't know.

@gj1234567899999 3 года назад

Dave Ramsey has solid advice. Most Americans are wallowing in debt. More Americans should listen to Dave Ramsey.

@lilrog0909 3 года назад

Dave Ramseys methods are outdated. He is not putting you on a road to financial independence for the 2021! If this was pre 2008 dave ramsey method make prefect sense. Paying off your house very fast means you miss out on investment.

@stevenyia2778 3 года назад

@@lilrog0909 or it means you don't have a mortgage any more and free to invest that money instead 🙃🤦‍♂️🤷‍♂️

@alexanderthenobody6492 3 года назад

I love this guy. Instead on feeding me BS he calls it out. Need more people like you.

@jamess2873 3 года назад

I'm assuming you didnt watch Graham Stephans '5 best ways to get rich' video, because it wasn't a get rich quick scheme. It was really making a point of not being one, it was about how you build wealth over a lifetime, slowly, and at low risk, with simple real estate and global tracker funds. It was incredibly conservative and sensible advice. The problem is he used a clickbaity title, and even tho it was sort of parodying that kind of video, it does look bad. but the reality is it was extremely realistic advice on how you should actually invest for long term financial security. Side note, if your channel does get really successful... will you make videos just for the sake of it? or will you stop on principle?

@SunDogGod 3 года назад

This comment is perfect. Graham used clickbaity titles with a bit of sarcasm and a lot of people don’t catch that. He basically has run out of content and repeats the same stuff but that doesn’t mean what he says is inherently wrong. He’s definitely trying to squeeze and make as much money as possible but he still has some integrity. There’s so many worse clickbait channels that provide bad advice that nitpicking graham is kind of dishonest. Great comment

@DianaBism 3 года назад

Yes I am. I am on a trajectory to build my business and I’ve already doubled my income two times in 3 years. So - yes- I will. But none of the online gurus helped me start what I know is a good solid business. I’m not looking to be Elon Musk, just better off than I was 5 years ago. That’s doable and realistic.

@steven_king 8 месяцев назад

I’m the guy who DID invest his life savings...made a few million bucks and lost it ALL...several times. Listening to these types of people ruined my life...and those stories never get told. I’m SO SO glad somebody said this! I’ve been wanting to make a video like this for YEARS.

@2009v8 3 года назад

The issue is most talk about how they started with nothing. They conveniently skip how they got from nothing to having an income large enough to take on the financing they do. The easiest way to get high returns, is to invest more. That means income, you can’t escape from it. You’re not going to stick $1000 into something and have $200k to start buying houses.

@mdlm77 3 года назад

“So long, and thanks for all the fish” totally jabbed at Graham Stephan 😂

@AljeanJumamil 2 года назад

I love your fresh perspective about finance personalities on RU-vid. Thanks for your effort! But just a question, how can you say that being a celebrity or RU-vidr does'nt take too much effort than being a doctor? Do you have a first-hand experience on both careers or is it backed by studies?

@dave1T 2 года назад

Low barrier to entry compared to the other career paths

@colin7306 3 года назад

love your channel and i guess mindset? been watching graham for a minute now and never realized the difference between his advice and predictions (to an extent) definitely gonna be a bit more cautions with who i listen to (turn 18 in a few weeks and don’t know wtf to do 😳)

@__cm__ 2 года назад

Market open stream with Meet Kevin is very good for getting up to date with daily stock market related news. You get a good summary for the day from a bunch of different sources with his commentary on top (which I find to be very helpful as it's mostly him trying to explain events that tend to move the markets). You can ignore any speculation or "prediction" but just the amount of info he is able to pack and share makes a sub to his channel quite worthy.

@MRkriegs Год назад

Yes meet Kevin's day to day news and things are good information. Dont through the baby out with the bath water

@ianidas300 2 года назад

I feel like the RU-vid algorithm finally felt my frustration with the financial RU-vid gurus

@gabe1006 3 года назад

I'll take your words with a grain of salt. These PF influencers have encouraged me to save a lot of money and make more sound financial moves. For example, my brokerage account has increased 30% since the time I began watching them. I don't know about 'Meet Kevin' though.

@NathanDowdyMedia 3 года назад

Way to spotcheck a few of their videos in order to get enough b-roll to splice in with the other royalty-free stock footage you put together for this hit piece. If you'd listened to more, you'd know that Graham, Kevin, and Andrei recommend safe investments, being cautious in everything you do, and that what they talk about doesn't necessarily apply for everyone. They know they can't be nuanced and situation-specific, so they do their best to present good, basic advice through an entertaining lens, to hopefully inspire a better mindset in their viewers. Their thumbnails are clickbait because that's what works, but you already know that since your video titles are inflammatory as well.

@renebasanezcordoba3166 3 года назад

"They make most of their money on youtube" Uhhh I know, they are very transparent about that, they still became millionares - multi millionares without it "They just give basic financial advise and get their paycheck" So what, i am not the one paying, the things they say may be basic if you have a financial advisor or studied something related in college, but as someone who never got financial education, they sure as hell helped me understand enough not to make anything stupid I agree with you

@margarettasanjay2718 2 года назад

Let's just say I'm getting there because life has taught me a lot, I lost my job as head of my department and decided sourcing other income means without working everyday then I put $ 10k into Stock options and forex trading which has been giving me close to 20k monthly all it takes is one shift and everything will be alright

@Binsabar 2 года назад

Big step further if you ask me because this gives you much more freedom from my knowledge of trading, I have never traded but I have friends who do I am a doctor

@margarettasanjay2718 2 года назад

Benjamin ravies(a)Gmai Lcom... he takes commissions

@Binsabar 2 года назад

@@margarettasanjay2718 I thought as much because trading isn't as easy as it sounds it takes great expertise

@Lilyoregon 2 года назад

God bless 🙏

@Dariusissocool 2 года назад

@@margarettasanjay2718 SCAMMER

@dubstepXpower 2 года назад

The thing that pisses me off is they say this is not financial advice then proceed to give financial advice like why else would anyone watch their videos. It's all financial predictions etc

@timbomb374 2 года назад

The thing is if something works to make someone ritch it probably won't work a second time. And if it would work again if done by everyone then nobody who does it gets ritch. The more people that do that thing the more they have to share the market.

@VincentNoot Год назад

The financial gurus are just as shady as the scammers.

@donaldlyons17 Год назад

Making money off others is not simple because they have to disclose everything and not tell people what they should do or be going.

@stillshakes5499 3 года назад

Dave Ramsey does tell how leveraging realty assets caused him to go broke when the banks called the notes. Really all he preaches is a Biblical view of money.

@jonmccormack6107 3 года назад

He also said his recommended financial advisors can easily find mutual funds that will beat the market and don’t worry about 1-2% fees.

@bgroks1 3 года назад

I don’t watch Ramsey much (at all, maybe once), but isn’t this the dude that’s like completely against credit cards and debt?

@fredlandry6170 3 года назад

Dave Ramsey is a bully to his employees and is full of himself as well as a COVID-19 denier.

@45step54 3 года назад

Regardless of what you personally think about Ramsey, he and his organization have helped thousands and thousands of people to not only get out of debt but change their whole mindset a out their finances. It's easy to criticize a person for something you don't like, but you can't deny all the good he has done for people getting out of debt

@jerzypopieluszko7524 3 года назад

@@fredlandry6170 follow the facts sheep covid 19 is a farse yeah it is real virus but it has 99.8 survival rate rather than the actual vaccine only being 84 % effective

@hepotitus 2 года назад

My favorite thing is how several of these guys say things like, "Do this to be rich like me." But the issue is that these guys make most of their money from their RU-vid revenue, and several of them sell real estate in high cost areas. Neither of which are really viable to a VAST majority of their viewers

@Fostext 2 года назад

This is a great video! When you were talking about some of the worst influences (scammers), it really draws a lot of parallels to the big Wellness influencers who claim to be “not giving advice”

@aonirsplayground6224 3 года назад

Survivorship bias has really really become a problem with the advent of social media as only the most successfull are widely recognized and paints a poor picture of the reality, that being said I don't blame the survivors, rather the system that presents them, and at the end, the average consumer (me and everyone else). Should be reinforced however: You should have a critical mind, especially when concerning personal finances, as their advice is not all bad, but definitely needs to be filtered BY YOU if it fits YOU, but what am I saying most will drop dead at the next crypto/amc/gme hoping for that sweet 10000%+ returns in a month, and I can't even blame that since "honest work" returns compared to costs are disasterously (inglish hard) low and depressing.

@mauser1551 3 года назад

I listen to Dave Ramsey a good bit. He says you won’t get rich quick. He tells you how to become old and rich through budgeting and steady conservative investing. Thanks for the video. This type of message is needed in the younger generation.

@Leonyoung11 2 года назад

Meet Kevin looks like a genius with Tesla comments at the moment😂😂😂

@jerrykreutzer4326 3 года назад

I just wanna say that I really empathise with young people growing up in this climate. I would've eaten this shit up back when I was 18, meme stock, altcoins, borrowing money to buy lots of houses, it's just too much, I'm sure that some of it would look good even when you try to be smart. Now that I'm a bit older and settled in my career I've realised that I really don't have to become the next Elon Musk in order to be happy. But it took me the better part of my 20s. You'll get there too.

@MckensyLong 2 года назад

Totally agree.

@inferno0020 2 года назад

those self-made gurus are the only people who got everything wrong but still expect their audiences to kiss their asses

@douglasrobinson8491 3 года назад

Could you please do a video about what it means to be rich? I used to make OK salary, $75-100k in the US.... but it was always spent on the cost of living and stupid stuff marketed to me. Yet, after moving to cancun, a tropical paradise where the cost of living is insanely low (I'm living comfy on just $1k/mo, $12k/yr), even making half the salary as before, I'm saving crazy amounts of money and now FEEL much more rich than I ever did before. I've also learned i could go to the phillipines where the avg person makes only 300/month... where it'd be even cheaper, and i'd be even 'richer', especially working remotely

@donaldlyons17 3 года назад

Dude you are living the life many I suspect on this channel would love. They don't have to get rich if they live somewhere where they can purchase whatever they want. I am not trying to be insulting I just think you already figured it out. Your quote: (Could you please do a video about what it means to be rich? I used to make OK salary, $75-100k in the US.... but it was always spent on the cost of living and stupid stuff marketed to me. Yet, after moving to cancun, a tropical paradise where the cost of living is insanely low (I'm living comfy on just $1k/mo, $12k/yr), even making half the salary as before, I'm saving crazy amounts of money and now FEEL much more rich than I ever did before. I've also learned i could go to the phillipines where the avg person makes only 300/month... where it'd be even cheaper, and i'd be even 'richer', especially working remotely)

@loveandparty4118 2 года назад

Pretty hard to find a youtuber that isn't a vampire in some way nowadays... it's almost impossible.

@SenorJoeBiden 2 года назад

The BASIC personal finance tips CAN fit on an index card. These youtubers and others delve deeper into PF and financial markets because they're interested and passionate about the topic. And that's the same reason why many of us watch their videos. Ben Felix presents a lot of GOLDEN information on financial markets, albeit in a drier manner. His video topics include: Why index funds are the best (risk-adjusted) investment. Real Estate: the best investment in history? Renting vs. buying: what is financially a smarter choice What are realistic returns I can expect from the stock market? Looking at global stock markets over the past 3 centuries and comparing them to US markets today What is risk-adjusted return? The five-factor model by Fama & french The irrelevance of dividends The 4% rule for retirement, broken down Are these videos necessary for PF? No. But they're hella interresting. That's why Ben makes them and that's why I watch them. So long as PF yotubers stick to factually true information, these videos are no different than people interested in physics watching physics videos online or people interested in science watching science videos online.

@clarky417 2 года назад

Dave Ramsey has got a lot of people out of debt. He has helped millions of families

@nolovej7784 10 месяцев назад

Stop your lying

@SGast 3 года назад

I despise pretty much all social positions Dave Ramsey stands for. However, I have to at least say that his financial advise is consistent and in most cases not harmful.

@Oceloteater 3 года назад

The Plain Bagel is definitely my favourite. No nonsense... Straight up solid advice!

@AxeTheSingaporean 2 года назад

The same people who lost everything in 2008 were also levered heavily to buy real estate. We want to think that it won't be us but they didn't think it would be them either.

@rahulprasad2318 3 года назад

Imagine taking advice from a youtuber in the first place

@HowMoneyWorks 3 года назад

You would be very surprised my friend. If there are still people buying automated trading software off RU-vid ads I am sure there are people following the advice of these guys.

@rahulprasad2318 3 года назад

@@HowMoneyWorks why is it bad tho? It's mother nature doing its job. Weeding out the weak. Life is a game of survival afterall. If people are dumb and or greedy to fall for such marketing tricks then it's their fault.

@SenorJuan2023 3 года назад

Uh, since they're real estate investors/agents that are in the game, why wouldn't you? SMH

@Tential1 3 года назад

@@SenorJuan2023 they do make good points. The rest of the content is fluff, but there are good points and if you're in real estate, managing 25+ properties is hard. At a certain point, you can teach real estate rather than be in the game. I didn't do what any of these RU-vidrs do, but it did make me realize I have my own talents(stock and derivative trading) that I can do. Honestly, as a person in the financial industry, it did break down some mental barriers I had, like you can't outperform the market and you have to use index funds. Their content isn't perfect, I agree with the, "they have to keep generating content" part whole heartedly. That's why I only watched a few of their videos. After that, it's just them making a living off of RU-vid. There's risk in EVERYTHING. But if you aren't willing to risk, you won't get outsized returns.

@SenorJuan2023 3 года назад

@@Tential1 uh, they don't manage their own properties. They get the property at a good price so it cash flows with someone else managing it. LOL

@captredbeard 3 года назад

"They milk content because that's how they make money." That's exactly what you do, just from a drama angle lol. Glass house and all.

@lohi172 9 месяцев назад

Thanks for your point about their personal stories. I’m not a natural born salesman nor do I have the discipline to do what they do. I’m never going to either no matter how much they tell me to grind and hustle. We’d all be wealthy 20/30 somethings if it were that simple. I’m going to stick with the basics and still do my best of course.

@dohczeppelin37 2 года назад

True, young and rich probably isn't happening. But old and rich, with great financial stability and freedom along the way, is definitely within reach. I like The Money Guy show on RU-vid. That one is the real deal for advanced personal finance strategy.

@korban007 9 месяцев назад

We are already rich being born here, but to achieve and go beyond is anyone’s right. As the people that want to come to this country and make it happen in 5-10 years.

@bielhelp 2 года назад

The only time I though of studying something of finances when watching "finance youtubers" was when talking about dividends, and even now I still have interest, too bad I don't have money to try (or good, who knows).

@dmonleon24 2 года назад

People just like being spoonfed, none of these finance gurus got rich by doing what they say in their vids

@domesticviolins6371 2 года назад

It is not only the financial advices which can completely destroy your life. It is ALL the life advices, which seemingly sounds making sense, but in practice causes damage. I have long list of channels and topics which greatly influenced me on my life destruction. The fact that these advices can be useful for many and work like charm for others, is the most irritating and addicting thing. Another important factor is that "not interested" and blocking channels seemed just get youtube to push more of that same shit. Earlier it was necessary to use ad-blockers, nowadays it is necessary to use content blockers.

@justauser 3 года назад

I always didn't like Dave Ramsey's advice, and I'm fully aware you can't be a regular Employee, pay income tax, and expect to ever be rich. So pretty much the things your saying, I learned from so called "Gurus". There are honest ones out there. Alot of good books, for example, Rich Dad Poor Dad is a great beginners book, even if it does try to upsell you on buying into a program :)

@bullywag 3 года назад

Keep droppin' them truth bombs my friend. Great content!

@jeremyc4811 3 года назад

Reasons why a RU-vidr is hawking a specific investment: 1. they have already bought into that investment and profit the more people who buy that specific investment.

@michaelmurray2833 2 года назад

Arguably you make more videos on things to know about finance than content that fits on a cue card as well. Personally I think there is tons to know more than a few bullet points on a cue card. I think you are a personal finance personality as well and you are also useful.

@maxholm2808 3 года назад

Get rich Quick con artist is a problem but I think some of these profiles have created a lot of awareness around the power of home ownership, equity investments and to really consider if you should take on student/consumer fiance

@ffabi97 2 года назад

My parents invested my time into my education which has a return of a great life. Best investment of my life.

@_baller 3 года назад

Kevin is in mountains of debt, and is an extremely risky investor, so risky that if he lost it all..and will, he'd never let anyone know

@colovick 3 года назад

While his style would bankrupt most people, his RU-vid videos rake in 6 million per year and are still growing, so his income is good enough to fix all of his random debts and leveraging if he needed to do so. I'm happy he is doing well, but the odds of repeating it are slim to none

@DatGuyYonder 3 года назад

I just found your channel and 've been bingeing your videos. (Subbed btw) I would love to see you do a video on Forex. I have a friend who is super confident in it, yet has made no money over the several years they have been doing it. They even have spent some money on "Guru's" to teach them how to "beat the market" or whatever. I would love to see a breakdown of how it all is supposed to work vs. how it actually ends up working for the average Joe haha

@alk672 2 года назад

This is very true. To me, the worst part is that most (if not all) of these people made money through a business, including their RU-vid business, and not at all in the way they are teaching us to behave. Dave Ramsey is the best example of that.

@donaldlyons17 2 года назад

Well selling is the easier way to end up rich. Managing money makes people rich over extremely long periods of time often multiple lifetimes!!!

@TheWolfXCIX 3 года назад

I think Dave Ramsey is the outlier here, his advice is all about self-discipline and long-term investing. He routinely call out get rich quick scemes. But I agree about people like Meet Kevin, his content is potentially dangerous.

@HowMoneyWorks 3 года назад

I agree. He’s pretty good and accurate with his substance. The focus is really the “why” people watch his videos, which is less for substance and more for entertainment

@Jersey1971 Год назад

I want to get rich on a single salary like that janitor these people have side hustles and rental properties of course they can invest thousands of dollars in lump sums

@D4rK3sTsH4d0W 3 года назад

Check back with us in a year and tell us when you're making a million lol. I see your channel is kinda in the luck zone. You've been uploading what I would say are medium-high effort videos for a few months, with several dating back a year. 56K subscribers and 5K views a month. Pretty good, but nothing groundbreaking. I'm guessing a few videos just hit the algorithm within the past few days, but hopefully it will click into gear. I see an insane amount of views just hit the channel, although I guess it could have been an unlisted video that got republished. I'm not familiar with your channel enough to know. Assuming this was from recommendations, or something similar, I'd say you're on your way to millionaire status in a few years if you keep up this level of quality. It was a fun and interesting video and I was surprised to hear some interpretations of these videos. I've been watching Graham for about a year and he's been very entertaining for sure. Not sure I learned much from his videos, and I definitely don't trust his speculation, but he offers some advice and facts of interesting laws that might be useful. I subscribed. Interested to see more!

@JacobAnawalt 3 года назад

I’m going to give financial advice, while telling you why not to listen to financial advice. ;) Still, good points.

@derciobene3458 2 года назад

As with anything on youtube, the golden rule is if it's too flashy, don't trust it. That works for finance gurus, science gurus, cosmethics gurus, psychology gurus and just about anything. 99% of people talking about finances, science, cosmethics or psychology are going to be very boring, and that's the way it's supposed to be. I did a 3 week-course on personal finances and it taught me quite a lot about how to manage investments and portfolio management theories, but the one thing they made sure to say at the beginning was "if you're here because you want to get rich by next year, this is not for you. this is for people that want to learn how to invest their money safely and get rich by the next 10, 20 or even 30 years"

@dcbaars Год назад

Thanks man real videos with truth instead of BS from those “influencers”.

@ZeusandHades 2 года назад

I started listening to Andrei when I first started out. I like his videos on ETFsn and they seem rather safe. When I started out, I thought I had to follow all of what he had to have money work for me. Now, while I may listen to him once in a while, I stuck with just 2-3 main holdings rather than all of what he says.

@madame4883 2 года назад

Who do you follow up to now?

@ZeusandHades 2 года назад

@@madame4883 Bogleheads. The three fund portfolio, with a slight variation to account for dividends. Set and forget mainly.

@rolandomedina7140 Год назад

Finally someone speaks out loud the truth about Stephan.

@GalakStarscraper 2 года назад

I am a CPA. I really think you took several people that spend a great deal of time and research to give good advice and threw them under the bus without a good justification although you tried to create one. I know I started with $28k and now have $85k over the last year by listening to Kevin and Andre and Graham. I see your points on some financial content creators (like Jeremy) … but you used solid advice faces to clickbait your video when they really are helping people. Guess you can be grateful the dislike button is going away.

@leviboswell9510 2 года назад

I wouldn’t call it clickbait. I feel the title was accurately depicting the content of the video.

@bosticpoindexter6481 Год назад

These influencers have helped me with making better financial decisions. They help keep me disciplined

@Blin.gde.moy.stariy.nik. Месяц назад

Why aren't there any ads in these videos ?!😶 I think I have to subscribe

@kgnde9480 3 года назад

The problem with your video is telling people there is little value in the information provided on RU-vid by these creators and that they are generally intentionally misleading people for views to enrich themselves which kinda is ironic because that itself is misleading and you are also a Channel that profits from views and clicks as I always say half truth is a lie that telling people they probably won't be rich and luck has a lot to do with individual success is only half truth. The other side of high risk is high reward for the few who can tolerate that risk and want to strive to riches leave them be and dont criticize the ones who share their experiences on RU-vid instead of keeping it to themselves The more people you discourage won't want to take that leap it's not right you are what you are preaching against

@evannibbe9375 3 года назад

False, since he is popularizing the knowledge necessary to avoid this problem. He is acting like water in fighting this, drawing on the very people that scammers preach to in order to enable them to avoid scams

@AngeloHomeTours Год назад

Pretty much all of these finance youtubers are stating the same thing, over and over again. Sometimes it is just entertainment not true practical advise... That is why I do not watch them, just a waste of time.

@MeGawOOt99 2 года назад

There is also the issue that not all doctors and lawyers are wealthy. There are a lot of doctors and lawyers with years of student debt. Additionally people don't understand that having high income do put you in the highest tax bracket and you need to pay more to maintain those careers like for example paying your lease on your clinic, paying salary to secretary/ bookkeeper, and buy the latest medical machine because the Association of General Medicine Practitioner require it for you to maintain your license. Compare that to a successful RU-vidr or Streamer, where you make the same amount. Where the only cost is the high tax bracket. If you want to you can also work in a messy room with holes in your T-shirt like Asmongold and that is still perfectly acceptable for their line of work.

@jefegamez6284 2 года назад

I have thought about this too. The problem is, if the workforce market becomes over saturated with “entertainers” there will be a deficiency in people with “skilled abilities” such as doctors, lawyers, engineers, etc… What this will cause is that the people that manage to be doctors, lawyers, engineers to be “overpaid” because the supply will not meet the demand. Therefore, you will probably do really well if you manage to be a skilled worker. I mean look at the Software Engineers’ salary

@MeGawOOt99 2 года назад

@@jefegamez6284 Don't get me wrong the problem is this society has an issue with job allocations when it comes to education. It doesn't take into account 10 years from now we need 110k more doctors, 90k IT specialist and etc... When I went to school all they promoted was everyone become software programmers and coders. Saying how much money you would make. Then you had Google, who instead of increasing salaries of software programmers after 3 years decided to just hire them from India. I mean you ever wonder why you got an issue where plumbers are millionaires and set their own hours while software programmers for lets say the video game industry work 60-80 hours a week on crunch time just for them to get laid off once the game comes out?

@michelleachacoso4983 2 года назад

Thanks for shedding light on these guys,

@billh8173 3 года назад

Skimming the comments, but nothing about "and thanks for all the fish", ah, hitchhiker's guide to the Galaxy reference making me smile

@zainanwar9281 Год назад

I used to watch graham but then he just became a clickbait filled channel with no substance at all, which makes sense since there isnt really much advice you can give after a while but I stopped watching him once he starting shilling investment firms, crypto and stock advice

@777bluequantum 3 года назад

Ranking legal “eagle” as one of the good informative channels was a bit of an oversight, mate. Just because RU-vid pushes him doesn’t mean he’s an expert on all matters of law

@AlecTramblayCoaching 2 года назад

Very very true but taking their general advice at face value has been extremely beneficial for me. Finding graham got me to increase the amount of investments I made, used money that was being saved up for a new car to purchase a home that has increased 50k in value over the last 14 months. Have used older Meet Kevin videos on easy home renovations that will add value for when I sell in a few years, and Dave Ramsey has scarred me into paying off all my CC debt ASAP (but still use them for the cash back now lol). but overall I am definitely aware I wont be making 10M per year by just maxing out a ROTH IRA and paying my mortgage haha