THE MILLIONAIRE NEXT DOOR SUMMARY (BY THOMAS STANLEY)

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Animated top 5 takeaways of The Millionaire Next Door by Thomas Stanley. Describes the characteristics of a millionaire. They might surprise you …
A playlist of books that will help you to reach your financial freedom goals faster: bit.ly/38Z6I0Y
Top 5 takeaways:
0:00 Intro
0:17 The 12 Characteristics of a Millionaire
1:39 Play Defense
3:14 The True Cost of Consumption
5:27 Cash Gifts Are Bear Favors
6:51 How to Decide if You Are on The Right Track
TL/DW:
- Frist, becoming a millionaire is a result of hard work, lifestyle decisions, planning and self-discipline, not inheritance or luck.
- The second takeaway is that you must play a great defense to accumulate wealth.
- Takeaway number 3 is that opportunity costs, both in terms of money and of time, should be added to estimate the true cost of a purchase.
- Number 4 is that cash gifts are counterproductive to accumulate wealth.
- Last but not least, number 5 is that you can decide if you are on the right track towards becoming a millionaire by taking your age, multiply it by yearly pretax income, divide it by 10 and then comparing it to your net worth.
My goal with this channel is to help you make more money and improve your personal finances. How to become a millionaire? There are many ways to get there - investing in the stock market, becoming a stock trader, doing real estate investing, or why not becoming an entrepreneur? But whether you are interested in how to invest in stocks or investing strategies for creating passive income with rental properties - I hope to be able to provide you with a solution (or at least an idea) here. Warren Buffett - the greatest investor of our time - says that you should fill your mind with competing ideas and then see what makes sense to you. This channel is about filling your mind with those ideas. And in the process - upgrading your money-making toolbox.

Опубликовано:

29 июн 2024

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Комментарии : 599

@TheSwedishInvestor 5 лет назад

A playlist of books that will help you to reach your financial freedom goals faster: bit.ly/38Z6I0Y

@kennyboyle700 5 лет назад

Debt free by 2021 and have the foundation to my portfolio

@rawvlogswithphelmar8136 5 лет назад

Reaching 7 figures net worth after 5 years through forex trading

@aarongunnz9513 5 лет назад

My goal is to quit job and draw income from my investments. Right now I've started investing in unit trusts. So far im investing 17,54% of my salary. I want to increase it to 30% monthly

@hemaladani4510 4 года назад

Hello @Swedish Investor. Love your content. Can you do book summary on below books please? I read really good reviews but can't decide weather to go for it or no. 1. Quit Like a millionaire by Kristy, Bryce and JL 2. Work optional by Tanja Hester 3. Financial freedom by Grant and Vicki

@wraithrunner2355 4 года назад

Great videos very informative but if I may make one suggestion change your white Arrow at the end of the videos the one use to show all the points from white to another colour like possibly green or blue it doesn't stand out as well as it should when you're moving from category to category.

@wewillmakeit3615 3 года назад

As one who made it, I have to agree to about everything that was said. For me personally the most important factors were living below my means to save up cash. Writing down my goals. Reading a lot and learning. Sometimes it is also difficult to actually start doing something, that you only heard and read about until then. Like reading about how to find and finance real estate and then actually going out there and buy the damn thing. Its about leaving your comfort zone. One thing I'd like to add to the list: If possible, find yourself a partner (spouse?) that has similar goals and accepts the lifestyle. Because else you will have a very hard time saving up money, while your significant other doesn't get, why you don't buy as of a nice car that the neighbors/friends have. In the end a divorce is what ruins a lot of plans and dreams. And most of those divorces are about money, I think.

@davidroush1224 2 года назад

Agree - we made it as well and retired in our mid-fifties. We didn't own our own business, just worked for a large company with decent pay and good benefits. Living in a low cost of living area then investing most of one of our salaries did the trick for us. Your comment regarding choosing the right spouse as being important also rings true. We both had the same goals in life and so we were pulling together towards them which made it easier.

@surfnbacker84 Год назад

They mention spouse in the book as well

@learnsomethingneweveryday1539 5 лет назад

For those thinking luck is a major factor: Tiger Woods "The more I practice, the luckier I get"

@bbb_888 5 лет назад

I'm not a fan of Tiger, but I like that quote!

@learnsomethingneweveryday1539 5 лет назад

@@bbb_888 I don't like golf and not a fan either but his quote always stuck with me for years. It helps when negative thoughts sneak in like; I'm not as lucky or I wasn't born into rich family

@TheSwedishInvestor 5 лет назад

Ahmet Ali thank you for sharing the quote, it's an awesome one that I live by. You can't influence luck, but you can influence other variables such as determination, courage and efficiency, so focus on those instead. In the eyes of outsiders what you achieve may all look like luck some day, but take it as a compliment in that case. They don't believe that what you accomplished would be humanly possible without it 😉

@buildingbuildercip8292 4 года назад

The harder I work the luckier I get.

@buildingbuildercip8292 4 года назад

He stole it from a golfer that said it like 30 years ago

@kzy7182 3 года назад

This video describes me exactly. I grew up poor on the South Side of Chicago. My wife grew up poor in East St Louis. We graduated college with gov. grants and scholarships, started our own businesses and invested our money in real estate and the stock market. At age 59 and 50 we are now multimillionaires and live a GREAT life w/ 3 kids. There's a lot of talent in the ghetto that never gets developed. Also, one key the video did not mention is marring someone you like and love that is like minded. So many of my colleagues have lost their foundation to build wealth due to nasty divorces.

@aronortiz2136 2 года назад

I can’t agree more! I grew up in the Eastside during the 90s and I’m now working as a traveling nurse. I’ve always joked that my living expenses are similar to that when I was still working at McDonald’s. Making it out of the ghetto is easy, but having discipline to do the work to get out is hard.

@jumhed994 4 года назад

I cannot stress to any students watching this how important this is. Invest, save, budget. 'Do something today your future self will thank you for.' If I'd followed the advice in this video/book my life would be a lot different today.

@gregoryjeffrey8569 4 года назад

I don’t get what your saying sorry

@krabbykrabby8818 3 года назад

I'm confused on if your for or against the book

@krabbykrabby8818 3 года назад

@@gregoryjeffrey8569 I think they're saying they're for the book and if they followed it they would be better off rn but not sure.

@xXxIMMORTALxXx 3 года назад

@@krabbykrabby8818yea that's what the OP meant.

@Madcowe 4 года назад

"Luck is when Opportunity meets Preparedness" So start investing in yourself and in your own financial education, don't wait for something to land on your lap, make it fall there!

@michaelg7904 4 года назад

Madcowe In other words, there is no such thing as luck.

@Madcowe 4 года назад

@@michaelg7904 the main point is that you can be the one responsible for your own "luck". Yes some times chance happens, but the more prepared you are, the more often you get "lucky"

@audiobooksummary5279 4 года назад

Agree with you 👏

@Madcowe 4 года назад

@@audiobooksummary5279 I also agree with me

@gregoryjeffrey8569 4 года назад

I don’t get it

@educatedman7270 2 года назад

I am the millionaire next door. I put myself through college and graduated with no debt. I chose a practical degree that offered a high probability of a six figure income. I married, but late in life after establishing myself in my career. I chose a woman who made as much as I did and we never had children. We live in a modest, 1,850 square foot Cape Cod we have long since paid off. I buy late model, moderately priced used cars, pay them off in two years or less and drive them as long as possible. (My current car is a 14 year old Toyota Camry). I NEVER carry credit card debt. I began making the maximum, tax deferred contribution to a 401K as soon as I went to work. At the age of sixty four my net worth places me in the top ten percent nationwide and I have more money just in my checking account (my cash cushion) than most people in my Baby Boom generation manage to save for retirement. You don't have to be a financial genius to get here, friends. It does take planning, discipline and a practical approach to money management.

@user-so3sk6hd7s 2 года назад

Reach me⬆️⬆️📩

@educatedman7270 2 года назад

@aa aa Hi. I am afraid I don't have any vintage albums from that era. I long ago adopted CD's.

@agusal4487 4 года назад

“It’s like building a house on the weekdays then bringing a wrecking ball on the weekend.”

@k.h.6991 2 года назад

The rich parent who makes sure their kids have all the educational opportunity they can afford them, is in practice laying out money. It's definitely not free - just not to the kid directly. And it IS one of the privileges that poorer people cannot give their children - certainly not to the same extent. Beyond that: great video, great advice.

@mikewilliams4947 3 года назад

I have moved many times during my life. My incredibly supportive wife has gone with me from spot to spot fixing up income properties until we made enough money from that income to live in our own home. We can now live and travel as our fourth kid is in home school. I'm not the smartest person you have ever met but I realized early enough that hard work and persistence are key. I remember reading many books on sales and business but never went to college. You can do it. Don't give up

@grigoriikulikov2532 3 года назад

What books can you recommend?

@mikewilliams4947 3 года назад

@@grigoriikulikov2532 easy reading all of the one minute manager books. The lean start up. Selling retail. Biographies; Ford Carnegie, Rockefeller et al. Warren Buffett, art of the deal. That’s what I got standing online getting gas.

@snowball2039 5 лет назад

Please do not use beeps on 'bad words'(it is very loud) or at least put it a little down the volume. Amazing videos man. Good job!

@TheSwedishInvestor 5 лет назад

Thank you for the feedback Snow Ball (btw, awesome name). I think I've improved it in my more recent videos, but I had some trouble with the audio for my first few ones indeed ..

@GMamba 5 лет назад

Indeed! Because of that beep, I cannot understand what the 7th characteristics means! So what exactly was he trying to say with that piggy picture?

@abz4852 4 года назад

@@GMamba he says, "We have a go to hell fund" he is using the piggy bank as an example so you basically have a savings/investment fund that is untouched

@GMamba 4 года назад

Developer Abz Thank you!

@JGULLIF 2 года назад

I am 56 and I read the MND in 1997 ... take my word for it ... it works. I have taken 24 years of middle-class income and have accrued a significant amount of wealth by the strategies outlined here. Am i objectively wealthy? ... no ... Am I wealthier than 80%+ of Americans ... easily. Remember, in the US, taxes are for suckers. The government rewards savers with endless tax-breaks ... who gives a crap about income taxes? High-consumption people do ... I don't ... in fact, I only pay taxes on a fraction of what I accrue in the course of a year. I do worry about money, but in a good way (investing is fun ... and counting your gains is fun!). Also, I've been married since 1998 ... NEVER ARGUED ABOUT MONEY (we argue over other stupid shit ... never money). Why? ... because we are NOT MATERIALISTIC ... we both enjoy saving and thinking about our future.

@jimboxmeyer1964 4 года назад

Wonderful summary. That book has been a wonderful guide. Live modestly. Don't try to impress others.

@audiobooksummary5279 4 года назад

Great book and great summary!

@MrOccyc 4 года назад

Some people go into debt to buy things they can’t afford to impress people they don’t like.

@OffGridInvestor 4 года назад

If your worried about "keeping up with the Joneses" YOU'VE ALREADY LOST.....

@MrOccyc 4 года назад

Instead of focusing on rates of return in this video, listen to the behaviors that are being discussed. Proper planning prevents poor performance.

@greenbay331 4 года назад

The last place I'd ever expect to see Broscience show up.

@TheSwedishInvestor 4 года назад

Haha, I love that guy, he is great 😂

@Kid-Silver 4 года назад

Kudos for the Video! Forgive me for chiming in, I would appreciate your opinion. Have you considered - Schallingora Brain Reconstruction Scheme (search on google)? It is a good exclusive guide for learning how to acquire the mind of a millionaire without the normal expense. Ive heard some decent things about it and my mate at last got great results with it.

@KpxUrz5745 10 месяцев назад

This is quite accurate. I may be one of the few who managed to lose my shirt on Manhattan real estate. I bought a small luxury condo downtown for only $152G to rent out, carried a sizable negative cash flow the whole 7 years owned, and meanwhile the value went down every year! Finally I had to move out of NYC and tried for 2 years to find a buyer at any price, and finally got a buyer at a price far below what was paid. Had I been able to keep it, of course, it would now be worth 400% or 500% the cost. Anyway, now wealthy, I look back upon my particular path and set of missed opportunities. I could actually write my own book about the path I took. Now I spend my time closely following the stock market, trade every day, and have steady income from dividends and covered calls. Incidentally, we never had highly lucrative careers, never received inheritance, etc. Mostly just lived beneath our means.

@SanVB 4 года назад

Number 3 is SO arguable. Many times its called enjoying!

@umarsebyala9920 5 лет назад

Always enjoy watching your videos! Thanks a bunch... ama write down them goals regularly!

@TheSwedishInvestor 5 лет назад

Umar Sebyala, that's awesome! I wish you the best in achieving all of them!

@gznxked 5 лет назад

Great! Thank you for the content. Subscribed instantly after landing in from ad link. Just what I have been looking for couple months. Great job! Thank god your ad popped up and not that Mentor box's guy one. :)

@TheSwedishInvestor 5 лет назад

Thank you man! Great to hear that you enjoyed the content, and also helpful to hear about how you noticed the channel. I hope that I'll be able to create more that you'll enjoy in the future as well!

@bighands69 4 года назад

You can be a millionaire next door with a nice house, nice car and nice family. It does not mean you have live on one serving of rice and water a day. Saving and investing is the key to this. You can still spend every now and then on good quality items that will last for a decade at least. I still have a plasma TV that was purchased for a large sum of money about a decade ago and it still has the best picture on the market. My 2007 lexus is still as good as any 2020 Mercedes.

@mathisnotforthefaintofheart 2 года назад

It's been one year now, and I am sure your 2007 Lexus is as good as a 2021 Mercedes. It's as good as any 2021 German car.

@CM-fw6hz 4 года назад

Love the concise version of these books!

@andretuwan Год назад

Thanks for explanation. Help me a lot!

@charlesmosley4941 3 года назад

I did read the book and still own it. I am a millionaire but I will say that I disagree about keeping a budget. I did not want to work hard every day and then have to watch how and when I spent my money. The last time I kept a budget, I was in the Marines over 30 years ago. I dropped budgeting after the Corps, despite having a wife and children. That being said I have managed to maintain decent to great incomes. I also enjoy my work. I have owned businesses in the past, although I have continued full time work in a high paying profession. So, I have put in many hours of work in my lifetime. The key to not having a budget is to live a little below your means. Not that my wife and children didn’t have a great lifestyle, because they did. I just don’t do stupid stuff with money, just because I have it. Also, begin investing when you are young. Invest in sound business ventures. I did go to business school. That helped. College does teach you things, despite what folks are saying about college education these days. Professor’s have knowledge, you just gotta tap into it.

@davidroush1224 2 года назад

We also got there without consciously having a formal budget or number to stay below. We indirectly did it by paying ourselves first - automatic monthly deductions into retirement accounts, savings accounts, then investments. We would live off off what was left. When we got raises, at least half went into increasing these three areas then we spent the other half. That allowed us to always be increasing long term savings while enjoying a little lifestyle improvement along the way.

@BeaverOwl 4 года назад

Awesome video! Thank you for summarizing all these books so I can learn these lessons fast!

@TheSwedishInvestor 4 года назад

Cheers BeaverOwl! Glad that you've found the channel and that you find the content to be helpful 😁👌

@davidwilliams504 4 года назад

Congratulations on this presentation. I've viewed hundreds of vids on this topic over the last year and this is perhaps the best for practical, achievable advice. Well done!

@TheSwedishInvestor 4 года назад

David Williams thanks a million! 😁🙌

@rajeshasher9769 Год назад

Your book summaries are quite informative. Thanks a lot. Please consider making a video for the book Die with zero.

@mathisnotforthefaintofheart 2 года назад

2:35 People do forget that houses in an upscale neighborhood typically also have (much) better public school districts. At least this is how it is in the USA. So if you have kids going to school, it actually DOES pay to go for a some sort of "upscaley" neighborhood. Chances are your kids have easier access to good colleges because the high school was better. And spending more on a nice house is certainly worth more than paying a fortune to some private school, especially if you have more than one child. Of course, it should all be within your budget, but schooling matters....a lot!

@TOTO_209 11 месяцев назад

Schools for fools.

@Thuhglegend27 4 года назад

Amazing video, keep up the awesome content!

@aminalucid 3 года назад

I listened to the audiobook and really I am going to listen every month

@umarshariff9819 3 года назад

That ikea password killed me. So subscribed. Keep up the great work

@josephatie2163 4 года назад

I watched only one video then i was attempted to subscribe the channel...... To be honest,, ur summaries are very unique. New subscriber from Tanzania 🇹🇿, Africa.

@andrew1470 5 лет назад

This is great stuff. This saves us so much time! Thank you!

@TheSwedishInvestor 5 лет назад

Glad that you liked it Andrew Prang 👌

@andrerexdianarchie6589 3 года назад

Thanks for summarising the book.

@ponta65 4 года назад

I love your channel! HUGS!!!

@larrykramer2761 3 года назад

Damn, according to the formula, I SHOULD be a millionaire!

@stephanslydignjohn639 5 лет назад

This channel is gold🔥

@TheSwedishInvestor 5 лет назад

I appreciate it Stephan! 😁

@aarondhermanson Год назад

I'm reading this book right now. It's amazing.

@kevinrasmusson4005 5 лет назад

Ahahaha Dom Mazetti i videon. Helt underbart

@TheSwedishInvestor 5 лет назад

Haha, han är klockren! Synd att han inte producerar like mycket längre bara 😭

@HoldenRiot 3 года назад

Awesome. Thank you The Swedish Investor. Subscribed!

@TheSwedishInvestor 3 года назад

Welcome aboard!

@JD-wx3pk Год назад

Thanks for sharing your knowledge. Great video

@greggpuluka2182 2 года назад

Great book! Thanks for the recap!

@BF2abc 6 лет назад

Great videos man, subscribed

@TheSwedishInvestor 6 лет назад

Appreciate it a lot, thank you!

@NickPeitsch 5 лет назад

Just made a video about Rich Dad Poor Dad! This was good to hear too :)

@MrJearley6 4 года назад

Thank you for this video!!!

@juanfernandez3633 Год назад

I have this book on my shelf waiting to be read.. it's in queue.. thanks for the summary / review though. I appreciate it.

@prosperthedubaiexplorer8980 3 года назад

thanks bro great book well explained

@chris.asi_romeo 4 месяца назад

Great video. 👏💯👍. Explained well.

@TheEndsJustifyTheMemes 3 года назад

Great points all around! Especially no. 7 at 1:08 in particular, I too believe a go to fuck fund is crucial to have if you want to become a millionaire.

@coachaaronmba 4 года назад

Love this concept! I am doing a similar one on my channel! Love getting the main points of books!

@parthsharmabala 4 года назад

Great videos thanks.💯👌💯

@shaneraja5242 3 года назад

It’s the first time I had to use a 0.75 speed. Speak a little slower my dude. Anyway love your content !

@CloverPickingHarp 5 лет назад

Wow bro.... you have a fantastic channel.... your way undervalued!!!!

@TheSwedishInvestor 5 лет назад

Time to buy the stock 😉

@Snusnu2977 4 года назад

8:31 students having student loans have negative networth 🤣🤣🤣🤣🤣

@kaizenborntowin Год назад

Thank you!

@PALWE Месяц назад

I’m about to retire after 18 years working. I’m just about worth £1m age 36, no gifts. Frugality is what got me here and whether I work another 18 years or not I will be no better off. I can cope and that’s all I want. If you want more from life you’ll always need to work to make more. The book doesn’t account for those who have a millionaire mindset but who want to give it up the moment they can. I did it, and no longer want to go further. I have expensive watches and a nice car too.

@TonyFliesINC 3 года назад

Great video!

@gmo709 4 года назад

The best defense is a good offense, right? Hmm. How bout a good offense and a good defense!..or max the money creation and min the money going out the door. Good vid. Thanks.

@bdas7779 3 года назад

Thank you 🙏👍🎉

@aliballo1676 4 года назад

Good luck to you too ! 🎯🚶🏾‍♂️

@GanpatiRam 2 года назад

Thank you😊

@ronaldmcdonald3965 3 года назад

Read 20 years ago. Multi-millionaire. Which drives 16 year old Acura I bought used.

@audiobooksummary5279 4 года назад

This book is a real milestone to help you to reach your financial freedom goals!

@likevitani 5 лет назад

5 - have our second child and a dog. getting to pay for services like cleaning the house, and things i despise. 10 - be free to quit my job. Live from investments. 20- support friends and family when they need it. Travel the world, own condo in Japan. Spend my time being creative with art .

@TheSwedishInvestor 5 лет назад

Lovely! Thank you Ida Dreier for sharing! 😁

@bighands69 4 года назад

If you do get those types of funds together. Start a small business as well and use that to supplement your income.

@andrisaleksejevs9180 4 года назад

I absolutely love that BroScienceLife appearance :D

@pumba6099 5 лет назад

5 years: Become debt free, Accumulate a stock portfolio of around $200k AUD. 10 years: Continue to compound dividends from the stocks while living below our means. 20 years: Paid for Apartelle business in the Philippines and living off the dividend from stock leftovers.

@TheSwedishInvestor 5 лет назад

Love this short story. Thank you for sharing Pumba! (also - awesome name)

@bighands69 4 года назад

If you can apply the ideas of investment to business you can do really really well. You could also start little hobby businesses that do small turn over so that you can practice getting good financials in place for later when you want a larger business.

@bigtradingboots 5 лет назад

Amazing video

@TheSwedishInvestor 5 лет назад

So glad to hear that Ahsan Ahad, thank you!

@peterpayne2219 5 месяцев назад

Wow, that formula accurately describes me, and my net worth. I’m glad I’m at least doing what I should be doing.

@dragoskw3575 5 месяцев назад

Very good .

@lynninfinite 4 года назад

5 years: pay off my car and have $30,000 in stocks portfolio. Buy a house. 10 years: have a consistent dividends income coming in from continuously buying stocks. Start pounding $ into house payments to pay off house quicker. 20 years: I’ll be 45?! Hmm. Having a house that’s paid off is a nice goal to have.

@lynninfinite 4 года назад

victoria man - hahhaha wouldn’t that be the dream. Nothing wrong with playing with stocks, I’m having fun!

@jonkrispeterson6678 3 года назад

I would suggest letting your dividends continue to roll into your investments.

@LivingInColumbus 3 года назад

Well done 👍 ✅ explanation

@maxwelladekoje1726 3 года назад

Please review these two fantastic books, "Just Eat the Worm" and "Higher is calling" by Maxwell Adekoje. Thanks!

@dannytheman2217 2 года назад

You are the true hero

@maheshvanjarapu5191 2 года назад

Thank you very much bro

@user-so3sk6hd7s 2 года назад

Reach me⬆️⬆️📩

@cffmailbox 3 года назад

I read this book. It kicks butt.

@MONESHajm Год назад

Thanks

@captainawasome8985 4 года назад

Sad to say I started late in the race towards passive income and this is why 50+% of my salary after tax goes straight into the stockmarket.

@TheSwedishInvestor 4 года назад

Damn, 50% is a fine savings ratio indeed. Great work! 👍

@bighands69 4 года назад

+CaptainAwasome I invest about 90% of my incomes but I have been at it for more than three decades. What age are you as in decade are you in your 40s,50s or so on.

@CAChintan 5 лет назад

Thanks a lot! Would take a world tour!!

@TheSwedishInvestor 5 лет назад

Cheers man! 🙌

@sahilkushwaha5864 3 года назад

Content is exceptionally well.❤️🇮🇳🕉️

@JollyRoger183 4 года назад

*Bärendienst* we call it in German. Similar to bear favour. More like bear service/duty.

@mp6386 4 года назад

I will be a millionaire this year

@darcienotyourgirlfriend500 4 года назад

M P hello 👋 making investments into mining crypto can get you there to your dreams sooner than you can ever expect...

@mp6386 4 года назад

Darcie Summers how u doing that what platform U use

@tomlaureys1734 3 года назад

MP congratulations I remember the feeling I had when I reached that milestone.

@devonpeters9458 4 года назад

Good video, but I would recommend turning down the sound effects volume. It’s a little jarring with headphones when compared to your speaking volume

@TheSwedishInvestor 4 года назад

Thank you Devon for your feedback 🙌 I hope that this has been improved in the last videos

@Alorand 4 года назад

I'm a super prodigious accumulator now that I am unemployed...

@macka534 2 года назад

Nice wrecking ball picture by the way!

@escape9-527 6 лет назад

In 20 years: I will buy my own island

@abhishanu1 5 лет назад

You won't be getting rich then... lol, have you done investment research?

@likevitani 5 лет назад

@Trinder3467 wow, be nice. Don't loose your temper bc of a RU-vid comment. 🥰

@10maxnyc 4 года назад

Ida Dreier lose**

@Acedeyekewe 4 года назад

There's a man made lake in the ocean. The swirling gem boasts a natural formation and is projected to continue its rapid, yet stable growth and is entirely comprised of recycled matter. The heap of plastic.. (platform )Tam'eh-toe Tom-ought'too)can be yours for only 999,999 ;)&

@audiobooksummary5279 4 года назад

why not 😉

@ganesanls8723 3 года назад

Awesome

@dandelion1598 3 года назад

"LUCK" is when preparation meets opportunity...

@user-zl3rb4rg1n 4 года назад

The broscience gun's 😍

@bth2012 2 года назад

THX

@razeenislam2174 4 года назад

Good video

@MYOFB1 3 года назад

Can you do a summary of this book called coffee can investing too please?

@katarinakarakas7800 3 года назад

The student part killed me 😂

@terryokeeffe6911 5 лет назад

Love your summaries. Could you please do one on ‘The Subtle Art of Not Giving A Fu*k’.

@TheSwedishInvestor 5 лет назад

Hey Terry! Thanks a lot for your comment, I'm happy to hear that! At the moment I want to focus on books that are about investing (or related areas - such as personal finance and entrepreneurship) but I might make a few summaries on psychology/self-help at some point.

@stanlegebeke4512 4 года назад

I am a student and i am above 2 on the wealth formula who is 19 y/o and will be crushing it in this recession.

@sofondadavis5028 3 года назад

CC are not evil. It's all in how you use them and if you know how to play the credit game. Three terms to learn and understand how they relate to each other: statement date, due date, and utilization rate. Check out YNAB.com especially the videos. Lots of great information and I didn't buy the app. By the way, if you're in school it's free. I studied Financial Peace University from Dave Ramsey and learned a lot. I didn't agree with Dave about credit cards because we live in a credit society. YNAB teaches how to use cc responsibly and explains sinking funds for true expenses.

@sportsaddict9104 3 года назад

My net worth should be 54000 😭😭. But I started working 5 months ago and have around 4000$

@r5t6y7u8 4 года назад

Everything was good until 4:10. A *ten percent* annual return on the stock market? Uh HUH. Two or three percent, after taxes, fees and inflation, is more like it. Very few investments return even 5% year after year after year. And only invest what you can afford to lose. My smartest move was getting rid of my credit cards and buying a car in cash. Work a job you enjoy, stay out of debt and don't get divorced.

@gmo709 4 года назад

True, costs and inflation will take a bite out of returns, giving you what is called the Real return or inflation-adjusted return post fees and churning costs. You still want to use that power of compounding over time though. You will lose more by staying in fixed income vehicles or bonds... in the long run... like 15yrs plus. You want to have more purchasing power in the future. So invest and invest money that you dont need for 10-15 yrs etc. Definitely stay out of debt if possible and working a job you enjoy sounds good. Where do i find that one? And by that i mean one you enjoy 5 days a week and at least 40 hours per week. For me that would be called retirement. haha

@mhmhm5337 3 года назад

An index returns well above 5% after fees. the mutual fund I use return 14% annually. with a 1,5% fee and a tiny performance fee. The inflation in my home country averages out at 2-3%. which means that I expect to return 8-10% annually after all costs are considered.

@bonniegaither3994 4 месяца назад

Well, #4 doesn’t pertain to me. I received a nice inheritance and have done everything in my power to educate myself and try hard to get that money to grow. I’m so grateful. I was able to retire because of it and am still doing everything I can to make it grows.

@mhayato3 Год назад

Thanks for summary, does someone that watch the summary beforehand and read the book later think that it worth it reading? For The Warren Buffet Way, I think it was worth it.

@avelmira 4 года назад

A million dollars isn't that much nowadays with inflation. That's 18 years at a modest 4500 per month living income. It's nothing to sneeze at but you definitely can't blow it all everywhere and expect to sustain that lifestyle for long without some sort of income coming in to prop up your new expensive lifestyle. This is why millionaires live like upper middle class people because that is what they are. They are not in the wealthy class and they are definitely not in the upper crust of the wealthy class. That's inflation for ya.

@bighands69 4 года назад

If a person is retired meaning they are 67 and they have a pension and a wealth of about 1 million they are going to have a good retirement. They can also take a proportion of that 1 million and invest that so they can have end of life money as well for extra fancy healthcare.

@avelmira 4 года назад

@@bighands69 Yup... as I have stated, it's nothing to sneeze at and wealth management is still imperative even at retirement age, but they can't go around living a baller lifestyle never having to worry about a balanced budget. You're not UAE prince rich.