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0:00 – Mistake #1
1:30 – Mistake #2
3:22 – Mistake #3
4:30 – Wealthfront
6:10 – Mistake #4
8:16 – Mistake #5
10:43 – Mistake #6
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I am not a financial advisor. The ideas presented in this video are for entertainment purposes only. You (and only you) are responsible for the financial decisions that you make.
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Beware of scammers in the comment section impersonating me. I will NEVER give you my phone number or try to sell you something
hey nate I struggle with mistake # 6 I’m always seeking the approval of my family for any of my decisions. I’m a recent college grad and after graduation I was trying out a bunch of online businesses but all of them didn’t pick up to extent I was hoping for but learning a lot and I think from my experience the best business to start for me would be a finance blog. It hurts when you family members don’t support your decisions and always want you to go down the safe path but ultimately that would make me unhappy.
Thanks for finally adding time stamps!
Indeed. They are in every channel’s comment.
Yea. I saw that. I reported him.
Nate are your shoulders actually real?
yeah I should have been a swimmer I guess
Golden
You have covered every point very well. Its extremely essential to have financial education nowadays. This was worth watching. 👍
I am at that point right now, been changing my mind while quarantine has been going on and made up my mind that i want to invest some money and built a business so I can live mostly of passive income in the best case scenario. Havent seen my friends in a while due to covid, but I am sure some will think I am crazy for wanting to start some kind of business.
you are absolutely not crazy. You are heading in the right direction. This is high time that everyone should think of starting a business or at least a side hustle. Go ahead man. You will definitely achieve success soon. 👍
Financial literacy is a must nowadays. We can’t just keep our government responsible for our unwise spending, we got to do it on our own.
One of the best things I learned was to set aside how much I wanted to save each paycheck FIRST. That shift of thinking about how much you want to save first then figuring out how much you can spend makes it so much easier to budget for your future. I taught my fiancée this and now we set aside the money needed to max out our Roth IRA each year. Also once I get bonuses or pay increases I don’t let that creep up into my lifestyle and just increase my 401K contribution as then I’m still living off the same amount I made previously.
For those interested, I’d recommend reading the book by Rob Berger called Retiring before mom and dad. Super helpful, super easy, and super basic stuff that everyone can do. He also has a YouTube channel that is great like Nate’s!
I agree. Good allocation or budgeting can save us a lot of money and time always, not only in the present time but also for our future. You have a good financial management strategy and I hope a lot of people can do the same too.
I think our behavior with money is more important than the tactics we employ. Regardless, your video address both, great as always Nate!
I agree. Our ability to be financially secured is totally dependent on our attitude towards our money. If we know how to discipline ourselves in terms of our spending, then maybe we can all gain financial freedom faster than the others.
Any advice for saving or making money at 40yr?
Create multiple income streams like working as a freelancer, do part -time job, do specialized job and allocate money for savings account and invest your money for your retirement. It always sounds hard, but it always pays off.
You right
Great video Nate‼
Great stuff Nate love these tips
Most people do not believe in 50/50 equality crap. Men should be sole providers, and it is saddening that white guys expect their girlfriends to pay the same. In my culture, it would be huge consequences if men asks us to pay. 😐 We well dump them on the first date. 😂
Yeah those payday loans have like 500% interest rates. Fkn nuts
sad
Hey Nate I’m confused , the stock fallacy implies that you won’t get your money back if the stock drops?
Then why do people say to hold stocks for years? I’m just confused
Because they don’t understand the fallacy.
My philosophy: If you wouldn’t buy the stock today, then why hold it?
Dude number six made me feel like you were speaking to my soul. Been through those experiences of working toward something and having people close to you doubt your ability. Will take your words to heart. Thank you.
Best of luck to you
Just Imagine how much people would save if they didn’t buy and soda and juice and just drank water.
Not to mention money saved on health care and dental costs down the road sheesh
I love sales on stocks lol
The manly taylor swift
OMG in my eyes you are so intelligent–believe me, I know as I’ve been teaching college level for years!
I sincerely love your genuine concern you show and letting people know what not to fall for.
Random tip for buying used cars: If you can’t buy it twice, you can’t afford it once. I myself have stupidly done this, at least twice where I saved up a certain amount of money because I knew that’s what those cars sell for, for example 5000 dollars. I buy the car and soon enough things start breaking, it needs maintenance, and i just spent all of my money on buying the car. This can get you in some real trouble, especially if you have to rely on that car to get to work.
That’s such great advice. Spent £3500 on a car once, then within a month had to put £500+ on a credit card (which I’d had to increase the allowance on) to replace the clutch, then more problems crept up soon after, but we’d already spent all our money on the car in the first place, ended up having to sell the car at a big loss because we just couldn’t afford to fix it/run it. I’m happy walking everywhere these days 😅 but if I ever buy a car again il definitely use this advice 👍🏼
I really needed that last bit of advice today as I’m in the first phase of growing my business. Thank you, Nate!
Couch for $5000… 72 months(6 years) X $40= $2880 you end up paying ASTRONOMICAL AMOUNTS!!!😂😂😂
Good positive advice. Thanks. I like your new addition to your background. The globe light is very peaceful.
I can totally relate to the last point. Imposter syndrome is a real struggle but I think this feeling of inadequacy also becomes a motivating factor for me to want to push harder to succeed in life. Thanks for speaking about this as not many people really talk about this issue.
6:34 Nate explaining the problem with Berlin Airport (BER) in a nutshell. Replace „company“ with „state“ and „dollar“ with „tax money“ and there you go.
“Don’t let other peoples limitations put you down or tell you what you can or can’t do” that was such a great quote to end this video bro 💯 very motivating
Reall was tho I’m finna put it in my bio
Yes! We are our own master, we are our own hero, so might as well do our best to save ourselves from any unexpected financial crisis in the future.
Nate is the calmest PF YouTuber lol everyone else is dying in their thumbnail with fires and downward arrows
30% off of too much is still too much. 😳
I make a killing on sales!
there’s this sushi place near me that does half of sushi prices everyday. i know what their trying to do but wouldn’t that just be normal prices at that point lol.
Those shoulders get broader everyday
Great video Nate, thank you!
As an investing enthusiast, I often wonder how top level investors are able to become millionaires off investing. I do have a significant amount of capital that is required to start up but I have no idea what strategies and direction I need to approach to help me make decent returns
subbed.
Hey Nate, The Stuff You Do is Great! I have been watching your videos quite q while now! I am working on my habits and savings! Just curious, i spotted that book “strategic investment” in the back. Is it possible to get the full details of that book? Cheers
Such wisdom as always. What is your opinion on Dave Ramsey’s steps to financial success? Thanks!!
It’s funny you mention the sales thing, I used to work at Boscovs and the sales are completely fake, there is never a time where we DIDNT have the sale signs up, the percentage changed week by week but the sale sign never came down when i had to change them
Money Trap #1 Was Women ???
Kohl’s is only good for Amazon returns
did some of these and lesson learned lol
1st one is soo true!!😬
Nate O’Brien, are you currently investing in stocks or index funds? Do you prefer one over the other with all this volatility??✨✨✨👍🆙☺️🤩
These are very basic stuff if you have this problem then you’re in trouble from the beginning. These days finding where to put your money and sheltered from inflation should be the biggest problem. The stock market is not doing good either.
Nate, for the “0 money down or low money down” does this apply for FHA loans ?
hell no
Thanks, Nate 🙏
*It requires money to make money this is the best secert I have ever heard we don’t make money we make multiple money.*
*IF YOU THINK HIRING A PROFESSIONAL IS EXPENSIVE , WAIT TILL YOU HIRE AN AMATEUR—Nancy Sherwood*
*YOU DON’T HAVE TO BE GREAT TO START BUT YOU HAVE TO START TO BE GREAT! -NANCY SHERWOOD*
Buying expensive thing to inspire others…. instead inspire yourself by investing instead and you will surprise someday….
Great video, Nate!! Superb insight. That particular department store with their funny money and variable sales tiers fills me with anxiety.
Please post a new apartment tour
Biggest money trap is online auctions lol its all about the rush of winning.
You are great, Buddha bless you
I love that background set up, very clean lines and calming vibe. Great content as usual!!! 🎉
Where does “getting drawn into a world war” fit in on this list?
Thanks for another video Nate!! 💯
The automatic savings and investments are great! Amazing ways to build up an emergency fund or dollar cost average into the market
Well, sales is not really an issue if u use the sales properly… I buy my necessary winter clothes at the end of the winter, summer clothes at the end of summer, it is always good deal. 👍
So true!! My wife is a spender and I am a saver. We are not on the same page. We have kids. Pray for me….
Just created a second investment account for a ’67 Corvette I want within 38 years…and no, it’s not convertible to a rainy-day fund, idc what happens to me it’s my 1967 Corvette Sting Ray fund.
I think you’re really smart, Nate. I would’ve guessed that you’ve done really well in school. School is an awful way to judge how smart a person is. Tons of people dropped out or didn’t go to college and are doing better in life than those with a useless Bachelor’s degree. I agree, anybody can be successful in life, you don’t have to be the most intelligent person in the world to start a successful business.
Thanks~~~~~~whatsap below! !~<~~➕➊➐➎➐➐➌➌➊➐➏➑••///🥊✅l
What about clearance section? Lol that gets me every time!
Thanks~~~~~~whatsap below! !~<~~➕➊➐➎➐➐➌➌➊➐➏➑••///🥊
Let’s do it Nate. I love this channel.
A big part of self care is putting away a portion of your pay for your future and paying yourself.
I am someone who is recovering from shopping addiction and everyday I try to remind myself of this.
Shopping addiction is like gambling in a way.
Everyday is another day to change and work towards a brighter future 🙏
“never let anyone’s resistance stop you from getting what you want”
Dennis Reynolds
glass of water is making me nervous
I know people that don’t have much liquidity to begin with and for some weird reason they go into debt justifying an expense such a videogame console, upgrade a phone or an expensive pc, the next month they need something essential like new work shoes because the other pair has broken down and they dont have any damn money to get the shoes, weird part is you bought something you didnt even actually need and what you needed to buy which are your work tools that help you generate income are now jeopardized, so they justify spending 1,000 in a game but they are not willing to spend 100 in their craft?…
How will this war effect the us economy
Thank Youu!!!! These tips were so usefull
Nate is a rock star! $$$
Nate, do you play any musical instruments?
Number 1 translation=My wife maxed out our credit cards.
TY
“Here’s somebody who’s trying to succeed, and *I’m not* ; therefore, let me put that person down.”
That is one of the worst mindsets to have.
“Don’t let other peoples limitations put you down or tell you what you can or can’t do” this actually ruined my life in many ways
Regarding the first part, it felt like a hard pill to swallow, good thing you had a glass of water 😉 It may be ideal to be with someone with whom we share similar lifestyles, political views, money management approach etc. However I think it would be a shame to rule out everyone else just because they’re on a different page
Number one money trap is war
Great advice, as always 🙂
Nice video, thank you!
Thanks~~~~~~whatsap below! !~<~~➕➊➐➎➐➐➌➌➊➐➏➑••///🥊✅
mistake 5# is only a mistake if the money that will be used for the expense does not earn a higher return over the same period as the interest expense. I would say that mistake 5# is a problem when one is not properly dealing with mistake 3#.
I always learn a lot from your channel, great video!
Thank you for such a helpful video. Wish I’d had someone providing information like you do when I was your age. There is always more to learn.
Financial market is for the wise and not for fun it really involves a patient , determined and focused waiter to conquer victoriously Is something you should make out funds and passion for
Super awesome motivational video!! stay away from traps and debt!! Being frugal while paying off debt will lead into better wealth building stratgies into your financial future!!
Really great video Nate!
Love your content. You always unique in your own way
That true
love the content…..i see sales a completely different way….if its 30% off that means im paying 70% so in my mind its like is it still a deal if im paying 70%? its usually not & i*ll come back when im paying 40% or less lol
Thanks~~~~~~whatsap below! !~<~~➕➊➐➎➐➐➌➌➊➐➏➑••///🥊🥰
Thank you for pointing out that people have this insane habit of putting their thoughts about themselves onto other people, or drawing conclusions for entirety of hominids based on their thoughts, feelings and beliefs. That is one of the most annoying things about people, and immature people especially do that all the time. I also think that self shame is one of the biggest drivers of this.
Thanks it’s helpful and right in time ..
Always great content Nate. Been watching your videos for years now 👍🏼
Be a man going his own way. Spousal problems solved!
appreciate the content 👍
…
Avoid debt. Cut costs. spend less, earn more and invest passively The best way to find that balance between saving and living is by investing..what i can say to early investors is diversification and solid management. thanks to having an adviser, ever so grateful to Rita Wildrin Mora. .
i Agree. also I did read about Rita Wildrin Mora on the web., quite an interesting lady with an amazing track record
Financial management is a crucial topic that most tend to shy away from, and ends up haunting them in the near future.
Thank you for these interesting ideas
found her webpage by looking up her name online…. Her resume is quite outstanding, I’ll be writing a mail to her shortly.
You make a lot of good sense for a young guy, and I really like your videos. Most
guys on Youtube tell you how to make $ 3 million dollars, in just a year ? These
guys don’t look to bright to begin with, and I shut them off as soon as they pop up,
and others should do the same. You can take the elevator to the Top, or take the
staircase, and it’s a lot wiser to take the staircase, if you don’t want to go broke.
I will say this, buying a house with “no money down” is a great idea. This is providing
the house price is relatively what it’s worth, but it’s OK to overpay by $ 10,000 or so.
I say this because if the house market rises just 10 % on a $ 200,000 house, you’ve
just made $ 20,000 dollars, so even if you overpaid for it, it really doesn’t matter
because your buying an “appreciating asset” that is rising everyday in value. Over
10 years, you could be up $ 150 to 200,000 dollars. I’ve bought many with no money
down, either by borrowing the down from the bank or seller. ( vendor)
I do agree with you on buying “depreciating assets” with no money down –like boats,
furniture, cars etc. That is a great way to go broke. It’s a no win situation. When you
do this with houses etc, it will work in your favour over time, especially if you do not
have the income to save up the down payment, but have the income to support the
monthly payment. You’ll be happy you did, if you buy in a good area, where prices are
increasing.
Very wise young man! Familiarize yourself with a possible partner’s financial goals/ background before you share or make a life with them!
Your video is very impressive Nate, learned a lot from you. Just want to know: what kind of equipment you are using to record video? And how to reduce the noise?
….
I have learned a few things I never knew. Thank you for sharing your knowledge!
Another good one is to buy what you can afford. Example would be a vehicle. I seen so many people pay $80k on a Charger Hellcat only to get repoed the next month. I got lucky with my vehicle and only paid $600 for it. Drive it until it dies and repeat the process. Save the rest of the money I would be using on a car payment towards retirement, investing, savings and down payment for something large
Unpopular opinion here.
But some women can be toxic with their spending habits.
And im not talking clothes, or hand bags or shiny glittery jewellery.
Im talking supermarkets.
Many women would buy shopping in bulk.
Then continously keep going to a supermarket and spend and spend and spend.
Women will go in to a supermarkt with the intention of buying ingredients for lasagna for dinner.
And end up with literally everytjing else as well.
Its a common scenario.
But thats a problem with women.
They run a home, they cook great meals, look after the house.
Women arent programmed to be financially intelligent like men.
Personally i was in the military and i lived on a tiny college budget.
I can survive on next to nothing. Ramen, eggs, tinned food.