*We Are in Unchartered Financial Waters! every day we encounter challenges that have become the new standard. Although we previously perceived it as a crisis, we now acknowledge it as the new normal and must adapt accordingly. Given the current economic difficulties that the country is experiencing in 2024, how can we enhance our earnings during this period of adjustment? I cannot let my $680,000 savings vanish after putting in so much effort to accumulate them.*
True. My portfolio was diversified across several markets with the help of a financial planner, and were able to achieve over a million in net profit among high dividend yield equities, ETFs, and bonds. It is vital that you have a variety of exposure, including in firms that are currently generating cash flows.
You mentioned that everyone should keep emergency money set aside for 3-6 months or longer. So confusing when we need to save for emergency money as well invest or we don’t even have emergency money never mind savings! What did you do about this, how did you transition then? Thanks
The most important thing that should be on everyone mind currently should be to invest in different sources of income that doesn't depend on the government. Especially with the current economic crisis around the word. This is still a good time to invest in various stocks, Gold, silver and digital currencies
Indeed, you are correct! Economic downturns offer numerous prospects for ordinary individuals to create wealth from the ground up. Nevertheless, seeking guidance from an investment planner might be necessary if you desire a more assertive return.
Consider investing in stocks especially during a recession . While recessions can be tough, they can also offer good chances to buy low and sell high in the markets if you're cautious. Just remember, this is not financial advice, but it's a good time to think about buying stocks since having cash on hand isn't always the best option.
Sonya Lee Mitchell is the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.
lnvesting in the stock market has historically provided higher returns than other forms of investment with the average annual return for the S&P 500 index, being approximately 10% over the past 3 decades. I've set aside $250k to start following inflation-indexed bonds and stocks of companies with solid cash flows, I believe it is a good time to capitalize on the market for long-term gains.
I agree that there are strategies that could be put in place for solid gains regardless of economy or market condition, but such executions are usually carried out by investment experts or advisors with experience
It's funny how we are all so afraid of investing money, and yet, we happily leave it with banks who actually invest (and risk) our money and keep all the profits (while charging us for the privilege of holding our money with them)
I'm 49 and earn about £2M ($2.5M) per year and save about 30% in HYSA's. I've been reading a lot of articles mentioning how w0rthless 'cash savings' are in this current unstable economy. D0 you suggest I invst in real estate, stocks or Gold?
You should obviously consult a professional. However you have multiple options. 5% CD/Bond rates very low risk. Or buy equities and purchase puts for insurance. Either way you win.
Everyone needs more than their salary to be financially stable. The best thing to do with your money is to invest it rightfully because money left over from the mkt never will be vulnerable to grow.
I did what your philosophy recommends Mark. I worked more hours, I didn’t spend money and I invested everything. 5 years later I’m saving for my 5th rental property - all done whilst earning minimum wage. I’m walking proof your advice works. It can’t be denied because I recorded everything on RU-vid. Keep up the good work mate
@@liam.4454 no mate. Lenders on buy to let mortgages don’t initially take income into account. Rather they lend on the rental potential, and will lend up to 75% of the purchase price. All I had to do was save the £20k to cover all the costs. It took me 2 years working 80 hour weeks and saving 60% to buy the first one. I recorded everything on my RU-vid channel
7 месяцев назад
@@liam.4454 I think he means he lives as earning (spending) the minimum wage and saving (and investing) all the rest. And probably, he doesn't have a family.
So saving to invest in yourself and new businesses is worth saving for. Specially if those businesses have a higher return than investments into other’s businesses And stocks ? And saving a cushion to keep ya afloat when starting up. Sounds good.
The average workers take home pay was around 450 euro in 2006 for a 40 hour week in Ireland. Its still roughly the same today in spite of 28% inflation since 2006. if this doesnt convince you to invest, nothing will
@@sesameseedbar8853 Well if we look at USA they are now earning 20% more money in real value then they did in 1980 but the houses are costing 5 times more so... there are no greener pastures - being a worker is the worst you can do with your life.
From the time we started working in our 20s, we consistently saved more than 50% of our after tax income, but it's investing our savings that helped us retire in our 30s.
Net worth truly snowballs after $100k! Keep investing regularly and you'll be blown away how much it can change in a few short years. Here's to $1 million and to FIRE!
My advice to everyone is this : if you want to grow big this year especially in your finances. Be willing to make investments. Saving is great but investing puts you on a pedestal where you wouldnt have to worry about savings as you do now. Thanks to my FA, my portolio is doing really great and im proud of the decisions i made last year.
Nice. People often underestimate financial advisors' importance. Over 50 years of data reveal that those who work with advisors typically earn more than those who go it alone. I've been fortunate to work with one for 13 years, resulting in a $1 million portfolio, largely from early investments in AI and other growth stocks.
Certainly, there are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with ‘’Marisa Michelle Litwinsky” for about five years now, and her performance has been consistently impressive.She’s quite known in her field, look-her up.
I’m 25 years old, zero debt, living my best life. I set up a retirement trust fund when I was 17. I’ll be able to access it when I’m 60, and it will be a million dollars. I don’t get how these people can be so irresponsible. Save now people.
Hi Mark, thanks to your videos I started investing in index funds around 2 years ago, depositing some of my wage each month, now have around 8 thousand pounds which may not seem like a lot to some but for me it’s huge and I’ve never been able to save more than a couple grand before. Also a few hundred pounds in the green so already seeing the benefits of investing compared to regular savings accounts getting 1-2%
Hello, just wanted to ask for some advice. I wanna get into investing instead of working in the sun all day, what are some tips you could give me for starting up.
WTH man... I became a millionaire after barely 12 years of employment... My home is fully paid, I have a pension plan and my retirement accounts are maxed out and I was lucky to make some good investment. I will probably have around 3-4 millions at my retirement age. Dave Ramsey is right on that, pay your debt and move on.
@back2nature608 Here’s my advice for younger generations, they should do some market research find out what people search for the most online and try to start a business that revolves around telling others how to fix those problems, if they can manage to get as many people as possible they’ll make money.
Im diversifying my portfolio of stocks, not huge one's yet, MGM, ATT etc. However its a start, building up dividends also because residual incomre is also nice
Hi, The dollar is used as a name for a currency in more countries than any other so it’s easy to understand, just think dollar/pound the numbers remain the same. Thanks for watching MT 😎
I wasn't financial free until my 40’s and I’m still in my 40’s, bought my third house already, earn on a monthly through passive income, and got 4 out of 5 goals, just hope it encourages someone's that it doesn’t matter if you don’t have any of them right now, you can start TODAY regardless your age INVEST and change your future! Investing in the financial market is a grand choice I made.
yeah investment is the key to sustaining your financial longevity but venturing into any legitimate Investment without a proper guidance of an expert can lead to a great loss too
If only you knew about capital gain, then you would not have bought 3 houses... selling a house that is not your first residence is not tax free... not to mention all the fees involved.
@@LindaAnnabel-rs1qs No... there is nothing about it special. You buy low and sell high. Unfortunately with stocks, you need to know when to buy and when to sell. So if you don't have the heart solid enough, then just buy index funds.
In Hungary the inflation rate in 2022 was 28%. Last year 25% . This year the govnment yells its only 6%. Employers decided to use this option for decreasing salaries. Half of the country left its job.
Hello, everyone! Ever since I started following channel, I've been a part of this incredible community of investors for some time now, and it's been an incredible transformation for me. We're not just here to make money; we're here to support each other, grow together, and celebrate every step toward our financial dreams. Amid the global economic crisis, This is the right time to prioritize diverse income sources independent of the government. Explore investments like stocks, gold, silver, and digital currencies for stability despite challenges.
I earn about £60 k and my missus around £45. I dont need more. Im comfortable and safe and content. The real rich is being happy and content. Look for what makes you really happy rather than what society percieves making someone happy.
Hi, that’s fantastic you are happy, I hope you are also putting away a small amount into an ISA because one day one of you may not want or be able to work. Happiness is the most important thing but making sure you can stay happy is also up there. MT 😎
I started my stock investing journey just last month, because I learned that "Money you don't use, is also wasted money" Like food, like water, like items in a videogame, if you don't use it, it's a waste.
When I was a kid in 2001, £1 could buy me about 3 chocolates and a packet of crisps. Today, one of the same chocolates (which is smaller in size by the way) costs more than £1. Hence why I don’t eat chocolate anymore
In Brazil we have treasury bonds which return the yearly inflation plus 6%! So, no matter what the inflation is, once you're invested in these treasury bonds, you will be surpassing the inflation 😊
@@mryan4452 hello! There are absolutely no taxes, not even income taxes. The only downside is that you must keep the money in the bank for at least one year from the date you invest. After this period, you can withdraw all the amount (principal plus interest) at any time.
Hi, you are 100% correct, not everyone can be a millionaire but you can if you take the right steps. I don’t ask for your money I just try to open your eyes to what’s worked for me and is possible. Good luck my friend. MT 😎
3 - 6 months (probably 6 - 8 months in these uncertain times) of savings in a HYSA, maybe split between a money market fund in a taxable brokerage and multiple HYSAs. Liquidity is important if you temporarily lose your job and want to avoid tapping into your retirement accounts and being on the streets. But to each their own, I guess. That's just how I do things.
Amazing content as always. In my opinion, if you want to be like rich rich, you need to take control of your life and make good decisions every single day. Take initiative and be ready to work and think hard. I am doing dropshipping, and after two years it became my main source of income, but it was a tough journey which is now paying greatly. It makes my life so much easier (I get like 18000$ profits almost every month, and I can save like 50% of that and invest another 30%). But if it wasn't for my hard work and strong will (and a little bit of winnerzila, their products are absolutely vital for this business. It also saved me so much time to focus on other things), I wouldn't have achieved anything.
That's really amazing income. I am also planning to start my store and Winnerzila really seems like good option, especially this lifetime access deal. Thanks for sharing.
The line of poverty has never been broken in my family and I'm fed up. I don't care how long that I have to work, I need to be wealthy. At this point it isn't an option because my life and the life of my family practically depends on it. I have so many ideas, I just don't know how to implement them. I've swallowed all of my pride and I'm willing to accept that I don't know anything about wealth. I want to be an inventor and businessman but I need money to start. Any help is better than none.
Buy junk items an flip them then hold on too it then learn about the investment once you got a descent amount to use that’s not what you need too live off at your same level education your self at a library an do your research before spending any of it.
Its gone full cicle HAHA! REMEMBER! NOT ALL BUSINESSES MAKE IT SOME TRY TO BUILD THEIR ENTIRE LIFE AND STILL FAIL! THAT IS LIFE! NOT ALL EGGS IN ONE BASKET
I really like the content but got one question why if u have enough money u put ur time and effort in making these videos for others, is it just for helping other people and generating an extra income source?
*You're all looking in the wrong place. This life is temporary and you can't take money with you. Instead, invest it somewhere permanent. As Jesus Christ said: "Build your treasure in Heaven." To find out how - pray and read the Bible.*
The recession is here, mortgage rates still on the rise with higher imports and lower exports, yet the Fed is to lessen cost. Where do investors look at now for wealth gains? something will eventually break if they keep raising interests and quantitative tightening.
I live by the time in the market beats timing the market. I dca whenever possible into my holdings and if none are on sale or in the red, I add to my SCHD.
That was nice until the end sponsored video to make you invest your savings so the guy the video be paid and the company makes lots of money from your loses, nice how you didnt start it with the sponsor
Great video! 100% correct about money being a tool. The only money I save for bills, emergencies, or for very little discretionary spending. Otherwise, the rest goes into my brokerage/roth ira/401k. I was putting over 50% for investment when I started in my 20s, and saved the rest for improving upon myself and learning skills/things outside of my comfort zone. Now in my early 30s, over 75% is invested, 15% saved, 10% for spending. Discipline of emotion, patience and learning skills, buying pullbacks, buying when there's a lot of panic will get you ahead of everyone. Good luck to everyone out there.
Facts u are always going to be competition with inflation as u will still need to buy things if u are doing this system of saving to become a millionaire which again will never happen
I look at all my screens with numbers in different apps and think they're just that - numbers. Be it money or be it amount of stocks - numbers in some database somewhere. We don't even carry much cash around these days. My friend's bank account was blocked for some reason and now he can't buy groceries (probably temporary, but still). It's scary how easily all of your "digital wealth" can be taken away.
Want to be rich? Don’t save money start a RU-vid channel. All these financial gurus spend a lot of time on here. Seems like being a RU-vidr giving financial advice is actually were the money is 😂
Hi, when you do anything well and add value then deliver it to lots of people , that is where money can be made. Because you understand this , embrace it and take action to accelerate your financial situation. Good luck my friend. MT 🤠🇺🇸
Invest into yourself, but also invest money to generate more money too. Ofcourse, first learn about certain investment, because its risky and if you know nothing about whatever your investing into your gonna loose money.
its funny, cause Ive been following this way for like 4 years and Im the happiest person Ive ever been, money is a tool, ppl need to understand that it needs to flow on the most valuable things all the time, it helps both the ppl and the banks. cryptos was designed in this in mind since the beginning.
Very good although people need to make the clear distinction of what money actually is. By calling this fake money money it's just playing into the scam. Fiat is not money it's currency. Money is all the things a currency plus the key one. Must be a store of value over long period of time. Fiat does not meet this definition in fact the complete opposite fiat is a lousy store of value
I have a question straight up. I’m 55, no investments and am worried about retirement. Is it possible to become a one million dollar aire before 10 years is up on a combined 50,000 dollar a year income?
..We Are in Unchartered Financial Waters! every day we encounter challenges that have become the new standard. Although we previously perceived it as a crisis, we now acknowledge it as the new normal and must adapt accordingly. Given the current economic difficulties that the country is experiencing in 2024, how can we enhance our earnings during this period of adjustment? I cannot let my $680,000 savings vanish after putting in so much effort to accumulate them.
Well, most Americans don’t have $500 for an emergency so I should have at least some money for savings some for investing. minimum $3000 emergency fund to six-month emergency fund.
We Are in Unchartered Financial Waters! every day we encounter challenges that have become the new standard. Although we previously perceived it as a crisis, we now acknowledge it as the new normal and must adapt accordingly. Given the current economic difficulties that the country is experiencing in 2024, how can we enhance our earnings during this period of adjustment? I cannot let my $680,000 savings vanish after putting in so much effort to accumulate them.
How to get Rich with spreading rubbish on a RU-vid channel and gains a lot money!😂😂😂😂😂 Just lost 50 000 Dollars by listening to your advisory. THANK you very much.
Thank you Mark, for this remarkable nuggets. Just a quick question, from your video, it seems most millionaires won't "keep" or "save" money in the bank. Where do millionaires keep their money then?
What is the best way to profit from the current market, meanwhile I'm still undecided about investing $400k in my stock portfolio to get some dvidends and minimize risk
A lot of folks downplay the role of advisors until being burnt by their own emotions. I needed a good boost to help my business stay afloat, hence I researched for license advisors and came across someone of due diligence, helped a lot to grow my reserve notwithstanding inflation, from $275k to approx. $850k so far.
There are a lot of independent advisors you might look into. But i work with Nicole Desiree Simon, and she is excellent. You could proceed with her if she satisfies your discretion. I endorse her
I just looked her up on the internet and found her webpage with her credentials. I wrote her a outlining my financial objectives and planned a call with her.
I watched $15k invested into Cryptocurrency grow into $220k in 2 years….Then came down to $70k & now at $142k…….Next bull run I’m sure it’ll get over $400k, Continue to invest during the bear cycle & make your money count.
My personal opinion you can't have everything in your life. It's either money or happyness. I have become the greatest inventor in the world. I had the chance to do a bit more work to actually get a reward for what I did. But then I realized I'd waste my life just becoming that having all the money in the world, only that I'm also very old then. So I discarded that goal and revealed my inventions for free. I don't think money matters anything in an old age. And then again if I'd become rich in a young age I still couldn't use it. Soldiers die in wars and I swim in luxury? Doesn't feel right. See even if I made it this far I couldn't actually buy anything serious. You think your efford is worth a human life? Being rich is selfish my opinion. My goal here is not to talk down the rich. But maybe they have never thought about this. My point is heroes cannot be rich.
People are afraid of investing/making money because of the amount of "do this" "do that" how to this" "how to that" bs content online all trying to give people hope when 99.9% of all that online is just a huge scam. Too many claim to be guru's making a buck by scamming people on how to make money.
Something that I listened a while ago, and still resonates with me: “Why would you *save* money, when the Federal Reserve *its printing more money* than ever???”
Want to be rich? You got it all wrong. You're not going to be rich, you don't have to be rich, money will never make you happy, something else needs fixing :)
Respectfully disagree, money can make you very happy, it certainly has for me. This is a lie perpetuated by people in power to trick the poor, don't buy into it! - MT
You need to watch that scene from Wolf Of Wall Street where he’s making that motivational speech. Solve your problems by becoming rich. There’s also the quote “People who say that money doesn’t make you happy never had any.”
Its true what he says but for most of us, although pretty obvious, and, getting an 8% return on what we can invest each year, after inflation is so little its not even worth the bother.
Just got off the phone with Graham Stephan. He said this, "Hey Brian, yes I'm aware of Mark's stance on savings. I own a bank for God's sake, I'm big balling obviously. So your best strategy for wealth is to eliminate debt and save your money in high yield accounts. That's basically it. Find a job or create a business that pays a lot. Oh and all you need to find is one valuable property to buy, and that's basically it, you'll be a millionaire. Now, finding a good woman to drop to her knees and service you with her fun bags, that's a question for another content creator." Thanks Mark T and Graham Stephan 👍
