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Go easy on the ads bro! You don’t need one every 2 min ffs
The example of the young couple shocked me, I can't believe many Americans start their working life with such a huge amount of debt.
$20 an hour is good??? Ya'll tripping, I earn minimum wage in Australia for my industry (retail) and that's $20.79 an hour and I'm a uni dropout
Children? Healthcare?
You should be ashamed at the example you have of the couple, so many WILD ASSUMPTIONS!!! if only every one sailed through life that easy!!!
I'm confused. How does 5 hours of overtime per week, per individual, make $1,300 of extra monthly income? Are we assuming they make time and a half and not paying taxes?
There are an awful lot of unrealistic assumptions in the video….who works for an employer with "overtime on demand"? I don't and never have….in fact, because of the expense to an employer of time and a half, most I think are like my current employer – no overtime allowed unless there are very unusual circumstances. And then selling your car to buy a different, cheaper car? Well, let's face it – if you're driving a car that's more than a year old, you're driving a used car already. If you bought it new, you've likely experienced somewhere around 20% depreciation already. So really what you're doing is selling a used car to buy another used car. Given that buying any used car will entail a down payment, taxes, etc, I have to question this decision unless maybe you're driving a Mercedes and intend to downgrade to a Ford Focus or something like that. And I notice the video conveniently neglects to mention that with older, used cars come more maintenance costs. Lastly, retiring at 65 is "early" retirement? Seriously? Please. I don't know anyone who thinks of retiring at 65 as retiring "early". The whole point is to retire early enough to enjoy life. By the time you're in your mid-60's, it's not uncommon to start having health problems, medical needs, medications, a need to be near health care facilities, etc.
All these "retire early" videos remind me of the old Steve Martin joke…."I've discovered how you can be a millionaire, and pay no taxes! First, get a million dollars…."
How the hell did they sell their cars and not pay off the full balance?? My banks don't release titles until they're paid off.
🔥🔥🔥🔥
Great video guys, its very inspiring and uplifting. I just started doing some investing, don't know if Im on my way to financial freedom, but definitely would like think so. Congratulations and God blessings on all your future goals.
too many adds… unsubscribed
There's also an element of luck, like maintaining a job and hoping your country won't collapse into ruin, etc.
Other than the countless obstacles in the way, this is it. This is how you do it. Several years on the wheel to power up the system that will give you economic freedom.
A lot of people either lack education, have a low IQ, are anxious, impatient, spendy, have kids young, etc.
You need to live as a child(say no to yourself) for as long as needed to have enough to buy a passive income that will give you abundance, then once you're at that point, you can spend big.
Bonus: You can afford kids if you think it through. You can help the poor and needy by creating jobs and giving the profit from those jobs, plant trees, send relief, pay for ministries or hobbies, etc.
Because of the years being frugal, you don't care about materialism. You care about building a community.
Only those who sell their souls will lavishly spend on materialism and let communities rot.
I broke with my girlfriend when we planed to marry..because my girlfriend have student loan,car,and 25k$ debt credit card ..but I didn't tell that reason..I just say bored
I'm at level 2 but until end of the year i don't t have any suprized purchases or any debt. And I change my home with another lower rent place. So while when I'm cutting my purchases I add them to my savings and it will make me go to my goal much more easier for now (if you are putting your goals for now to 3.000€ in my account until end of te year obviously 🙂 ). But it's just a short time plan 🙃
17 yrs since I started working and I am still on Level 3 🥵 Hustling to reach that Level 4. Can anyone clarify the 110K figure for the sample couple to reach Level 4? TIA!
I am a new YouTuber and this video helped out a lot!
Great video, thank you
how to approach early retirement adequately?
Define Your Retirement. …
Evaluate Your HeaIth — Now. …
Determine When to pick up Social Security. …
Decide How Much You Want (or Need) to Work. …
Create a Retirement Budget. …
Find New Ways to Cut Your Expenses (Start Saving More) and it's also required to start up an lnvestment… Now
although the graphic illustration at the beginning of the video is vertical, I believe it would be best followed by a linear progression. As the time line of life, is not tiered, but horizontal.
Level 7, 4 years until level 9!, FREEDOM!!!!
As I am watching this, I just want to make it clear to my self, it need be so linear. You may achieve level 6 by having some wealthy relative leaving you money or you winning the lottery. Linearity can be negative for you. You may think "i have to reach level 1 to reach level 2 and so on". May not be the case. All of these levels and definitions will vary for person to person.
I like this video and have watched it through twice, but as someone else mentioned, the couple in the example is starting in a better position than the vast majority of young couples in the US.
Your equations assumed taxes but forgot about children (or some other long-term dependent family member). Kids will decrease earned income and increase expenses. Do you have a similar breakdown for people with kids or taking care of an injured/sick/elderly family member?
Would like to see this plan adjusted for the average family of 4 👪
This is a great plan but when you have kids, day care, extra necessary expenses, it varies WILDLY in time frame since you need to earn a LOT more and expect a LOT more unexpected events come your way.
One Day…. you're leveling up then:
*Achievement Unlocked*
Level 10: GOD MODE (Making it Rain)
I just watched this video for the second time😓😭 I have some planning to do!
10% return lol come on man. Thats pure alpha.
i own my house tax on it 150.yr no car payments no wife or kids i save 90% income been living on 3k yr with easy i love my money
I’ll be 24 in December and i’m very close to level 5
Where was level 10??
it's always a damn couple
people that buy new cars are really dumb to begin with
I like the message, but the constant picture drawing is kind of annoying. I feel like I'm watching an online infomercial.
"The Man"="Knowledge"="Money" ="Thank You The MUSIC kid"
What about kids
Need to increase your expenses buddy
By turning my career into a business, using my own time and hiring off-coast labor force and selling to emerged markets, I am at saving rate 90-95% for past 2 years, need 4 years more for 1st million $ and 8 years to financial independence. I am 31. Hope that will encourage you to start a small business too. And off coarse I won't stop working, will just choose the most interesting higher paying projects.
I'm a lot further along than I thought. Don't feel rich though
You forgot that when Jane divorces John, John will lose his house and 75% of the joint savings. Also he will have a negative monthly cash flow of alimony + child support that can be close to $3000 / mo.
You can only manage your money and get rich when it's at work for you, investing is the best option, getting rich is a process
Essentially financial independence is elementary, all you need to do is keep monthly expenses very low, then make money, save money then invest that money. Once you make more than spend every month, you are now financially free. Hopefully, this simplified the whole process. Thank you, love your video by the way.
I’m 23 and I’m at level 3. I’m getting close to level 4 thanks to my investments. Hopefully I’ll pass level 5 by the time I’m 25.
Problem here is that whilst minimalism or old fashioned frugality is good for the individual that practices it , it is catastrophic to the capitalist system if the majority adheres to this idea .
Tough call !
Any dept under the rate of inflation isn’t dept in my eyes!
im fortunate to have a structured settlement from a personal injury (catastrophic brain injury) for the most part i live a normal life except i have similar symptoms of higb functional autism. I’d love to pursue these things as a good way to use my free time
Initially thought the thumbs up guy was flipping me off. 😀
Level 7 says to retire with 25 X your annual expenses. I'm assuming it's for a single individual. Because currently my annual expenses include 4 kids and a wife.
Why this author give me advice? Is he man with a lot of experience with money or Donald trump?
So I am between 7 and 8 but should reach 8 by mid 2020
I quit my job in 2018, my income were good enough to never work again but not good enough to just move with full confidence even though where I live it is quite expensive… now in a few months I will reach financial abundance because I refused to move and focused on increasing my income… "retiring" at 35 feels good