I got my money, working an ordinary corporate job and investing in tech stocks. I spent all my free time investigating companies and CEOs. I know many millionaires that worked an honest job, kept expenses low, and invested their surpluses in rentals and stock. .
@@Cali4rniadreaming that's because when people are young, many never realize how tough life can be when you don't have money to support your love ones and able to give them a choices.
I know a few millionaires driving 2004 Camrys..I know a Billionaire that drives a 2011 Ford Fusion..They have other cars but never drive them to their place of business to show off in front of their employees or co workers
Woah for real? I'm so excited. Adriana's catherine strategy has normalised winning trades for me also. and it's a huge milestone for me looking back to how it all started
I agree with some of the things you stated. I put in 20k into various assets late last year and flipped into six figures within a few months and still going. I’ve always been an advocate of investing because it has been rather rewarding. I hope to attain financial freedom soon. One more thing, keep up the good work Tom.
What assets!?!? I would love to know what assets you're looking at this year! I have 20K and am looking to put it in the markets.... and flip it to six figures like you did!
Since I became credit card free my finance has turned from negative to positive number. Eliminated unnecessary expenses and maximized my individual savings and retirement contribution. Trying to keep my investment to savings ratio to 6:4. Saved/invested about $40k this year so far. It’s my first year into investment so hopefully I meet my first million dollars goal by the next 5/10 years. I love watching your video Tom!! Find them very helpful ❤
Slow and steady wins the race. Many people want instant gratification and unless you have a Midas touch it just doesn’t work that way. I don’t care if it’s stocks, business ventures or real estate. A person has to stop concerning themselves with the latest fashions, furnishings, autos etc and systematically invest as you so we’ll point out. Good advice on debt and reserve capital also. 👍
I bought my first home at 24 with 20% down and then paid for it in full within 3 years after selling my first company. I've lived well below my means and retired in my 40s (after cancer). I'm also an immigrant. My parents also lived the American Dream on their own after working for state government and putting kids through college. They taught me to live below my means, invest my money, and to be humble. I've bought a few toys along the way, but I could've bought much nicer toys. 😉
Must say the intro sounded like a classic scam lead-in, but very clear facts. Solid video man. Loved the disclaimer on taking care of debt first. Great job man!
Would be nice to see a follow up video on stocking up on 30-40% of that investment money for when there's blood in the market and how to know when that time comes to spend it? You know, your method. Love it, use it, recommend it.
Hey Tom, thanks for providing the basics about debt reduction, emergency fund building, and investment with dollar cost averaging. I work on a team that does this every day with participants in 401k plans and so many times we are having to reset expectations of people who want to try make a quick buck and time the market and we show some similar slides/data as you did about time in the market is more important than timing the market. Its not their full time job to trade stocks and they just told us they haven't looked at their accounts in years so how do you think you will be able to do research and start timing the market in your mutual fund based 401k? Most, thankfully, get it after having a conversation. Keep up the important work!
1994 was a particularly good year to start. If you start at the top of a bull market you get MUCH different results. Start in 2014 and you get 7.7% return. Start in 2006 and you get 5.5% annualized return. Had you started in 1987, you would only have 5.2% return annually.
It’s just the way of your own “THINHING” , you got think out the box and think think think again , to create new program , to let sink in the subconscious and then new habit arises… Great video.🙏🏻🌑🌞
No, no, no. Poor people have poor people around them who keep them down. They also don't have the knowledge most often. I was that poor. I needed to shake the losers first, and then open an investment account. I opened the investment account thanks to youtube. It shouldn't have to be youtube, but school and my family/friends who lead me to investing.
Most people think that to be rich is hard or difficult. They struggle to figure out what secret is. They all want to know what the secret to being rich is. I have discovered that the secret to being rich is very simple! Anyone can do it! But here's the good news: Ttoday I will reveal the secret to being rich and I will reveal it to you for absolutely free! If you do this one thing, I guarantee that you will be rich! Here it is: The secret to being rich is to have lots of money! Hope this helps!
Nice when you are still young, but 30 years is not possible for me anymore. It can still be $1,000,000 in 30 years, but there is a 0% chance that I will still be alive.
You'd do well to look at that chart that shows all of the scary things going on in the world and reasons the market should drop, goes back decades and decades yet all the market has done is compound and grow
Expected returns important for long-term planning. Better to understate for safety On average those S&P returns are nominal returns. No costs are taken out. Those are index returns and not index fund returns. Nominal returns don't put food on the table. 15 yrs ending April 1985 return was 10.85% annualized but inflation was 7.05% annualized for same period. Real returns matter. Yes cash cash sucks
Tom, how do we know the past will equal the future? If everyone is buying the index isn’t it likely that some companies are getting bought up that do t deserve to be ? Wouldn’t this approach eventually lead to such distortions?
Hi Tom, thanks again for your insights! Regarding Dollar Cost Averaging (keeping money on the side to buy discounted stocks), how is that different from timing the market. Wouldn't it be better in the first place to just buy the stock no matter the price? As you wouldn't know when this discount opportunity might arise. Thanks!
Tom you are right this is the best way to reach $1M. But I'm turning 40 this year and I do not have 30 years. Heck I don't know if I have 10 years 🤣For someone that is under 30 years old this is definitely the best approach to investing.
I'm 46. You're not too late if you get started NOW. But it's true, starting my 21, 18, and 17 year olds now is much better than me just now starting. The important thing is, we've started. Doing nothing until now (except for watching the market) has cost me the potential to be far more comfortable than merely saving alone. So don't worry about your age. 40 is actually pretty young these days! Just get started!!!
@@believeroftheword4627 I started taking investing seriously around 6 years ago. If I stick to this plan I may be more comfortable at age 65. But I don't think I can retire.
Buying a Toyota will not be worthless. You buy a Toyota, pay it each month on finance, then every few years, part exchange it for something better. After 30 years it would be a Ferrari
Im investing on individual stocks that pay me monthly dividends.. should i keep doing it and start adding money to sp500 or just on individual stocks that are in the sp500?
Interesting. But before you start investing you have to have money for this. 200$ every month for 30 years this is not investment this is simply put your money every month into the pillow and collect it over this period of time. At the end you will have this money ;) maybe no as much but still .... ;)
Well, this video has 99.4% like to dislike ratio so far so I guess you are in the minority. I personally don’t care about titles as long as the videos are solid but it’s a personal preference I guess 🤷♂️
It doesn’t come without risk and work. It works because it is leveraged, you borrow 80-70% and the value of your loan decrease since money value (your loan) go down, inflation go up and you pay up the principle. Do you make 10% return yearely ?
1 million dollars after 20 yrs won’t be valued as the million now. Also it won’t be able to buy things as it can today. The title and content are NOT matching. I like your content but this one wasn’t that successful
![Turn $200 Into $1,000,000 [By Doing Nothing]](/img/logo.svg){kind=logo}
