In this video, we will discover the true cost of the new iPhone 11. The phone may appear to cost $1,000, however, there are many hidden costs that should be taken into consideration before making the purchase.
The primary cost associated with buying a premium phone is what we call “opportunity cost”.
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I’m a simple man. I see Nate’s video and I smash the like button.
enough said.
@Nate O’Brien thumbs up
Muhammad Ali
لوكي
@DontTrustTheProcess lol
To make this eazy: Save 40% of youre money and spent the Rest for fun and you’re rent etc. Make this till u have min 20k . Frome that you can build youre Business. If you want an IPhone get it but it must be in the Buged 🙌
I use a 10 dollar Alcatel 1066, that I got from Tesco. It works fine. You don’t need a smartphone, believe me. The average person does not need a smartphone. I am a digital artist and a student, all my teachers upload the school material and homework into Google Classroom, so it’s all internet based, I have to manage my Twitter for my job and still, I don’t need a smartphone. A 10 dollar feature phone should work for any average person, assuming you can break your addiction. To break my addiction I just boxed my iPhone 7 up and put it away for a week and used the Alcatel. The next Monday I wanted to put my SIM back into the iPhone but the dumbphone sorta… grew on me. I recommend trying it out. The trick is to keep yourself busy!
90,000?!!??!!?!! WHAT KIND OF OBSURD PRICE IS THAT
Great video. I’m 26 and have NO debt. I saves most of my paychecks working retail 2 years and paid off my college debt which was 20k. My car is a used car, 2006 Handa. I save $1200 a month now with my raises I have gotten. I did buy 2 premium products which was the Mac Mini and iPad pro which both should last 5 years. I use them for programming and drawing so worth it. I eat every other day for health benefits but saves me money. I only eat out like 4 times at most a month with my friends.
I’m looking into investing money but I take a while to make decisions when I admit of spend money. I’m doing more research. I may do Nintendo and Microsoft stock.
What phone do you use, Nate?
I’m writing this comment on my budget phone. ☺️ Thanks for another great video!
I guess none of this applies to me.
I just bought the iPhone 11 Pro Max 512GB.
Cost out of Pocket:
$300.00. USD
…Guess I’m doing something right.
gold change rate is 20% this year without any investment just holding gold from 1250 to 1500 per troy
I guess I’m spending half a million dollars to get blue bubbles😂😩
What will give 5% or more growth?
Currently using an iPhone 8 that I’ve had for 2 years already. Used my iPhone 5 before that for 5 years. Plan to do the same with my 8.
I’m doing the exact same thing and had the exact same two phones. It’s still going VERY strong.
If you’re the kind of person who buys an iPhone every year you’re not the kind of person that watches these videos. Those people just buy an iPhone so people can see they have the newest phone. I personally keep the phone for a few years until I think there’s a valid reason to buy a new phone because honestly sometimes I want something so badly and then when I have it I feel a sense of disappointment.
But I really need that new iPhone bro! Lol good video man
Quite a shock to see this, it really changes the way you look at things. I put a compound interest calculator app on my phone to see how much this “thing” I want would be worth later. Great content.
I love technology but I love saving and investing more so I budget and cut back where I can. Which includes limiting when and why I buy new phones.
The only times I’ve purchased phones was in 2012 and 2017 . And $150 iphone for business this year.
Hopefully I can make it to at least 2021 without running into much phone trouble but these phones magically stop working or stop getting updates after a few years so I forsee a lot of research in the next decade for good phones that will last.
40 years? Are you crazy?
In love
I’m a techie and a student software developer hence I find getting the latest gadget every year excites me and brings me value. However, I reduce costs by selling off older tech. I find iPhones keep their value very well even after a year.
Woohoo! Age 50 and zero debt, except my mortgage! Thank you Dave Ramsey!
You don’t say about one thing… How much money will cost this phone or another stuff after 40 years??? What about inflation? What is the real profit for 2000$ after 40 years? Sorry for my English )))
You think phones are bad. Look at your car!
I don’t find the levels of debt you had on your chart to be remotely high. Those figures include student loans and mortgages. Friggin MORTGAGES. What do you expect, everyone to pay cash for a house?
Have an LG X2 phone for 2 years. It works great still.
Samsung and apple
The thing is in 2019 500$ gets you a lot more than a budget phone lol. In fact it gets u a premium device
Budget phone last max. 2years
But most of phone brand can’t live 5 years😰
I use my iphone over 3 year, and android died in one year!
Didn’t this idiot consider resale value on smartphones?
I grew up super poor and my parents are immigrants. Now I’m very successful, once you have money saved and your sets are paid off their is no point to live like this guy does. Saving on everything all the time isn’t a life either. I put in the hard work I went to school full time for 10 years and worked full time sometimes 2-3 jobs and finished with no debt. With the money he has pinching pennies isn’t living either.
I loved this post but personally this isn’t for me . I think it’s a fantastic option for other people but I don’t know what I’m doing on the weekend ; let alone ; in 40 years .. 😂😂 Im literally on my way to buy a Sony camera and lens .. content .. ✌🏼✌🏼
This is why I bought the base 11- it only cost me $549 with my iPhone 7 trade in-has almost all the perks of the Pro at pretty much half the cost! And I didn’t break it up into monthly payments so after this month that cost will be cleared
Uh I copped the new iPhone lol
So you got iPhone or Android?
Hi Nate, we’re basically the same age and I have to tell you : you’re impressive. You’re super fluent in front of the camera and that’s super rare. Well done ! I really like your channel and I wish you the best for your future projects !
Considering the subject by itself, I’m really into budgeting and tracking financial expenses and going all in for investments (maybe even a little too much) so I totally relate with this video.
I recently read the Milionaire Fastlane and the author is talking a lot about investing small money for long period of time. His point is : “how wants to be rich at 60 ? We want to be rich at 30 !”. He’s calling it the “slow lane” compared to the fast lane (based mainly on entrepreneurship).
It really made me think and challenge my own opinions on this subject. I’m sure we wall want to travel the world and enjoy life while we’re in our best shape and health. Not at 70+ years old.
So my current view is to take these $2000, invest every dime into myself (courses and other learning practices). Grow my own business and try to make it big now compared to wait my entire life on the stock market.
I would love to have your thoughts on this guys !
Peace.
97% of money in the world is debt created by private banks out of thin air. But guess what. It’s a scan its fraud.
Debt slavery.
01. Not till you ask for a loan or mortgage that money never existed.
02. Because the bank only ever create the loan but not the interest on the loan. There is never enough money out there to pay back the loans plus interest.
Money created by banks is legal fraud. Till we wake up to the game we are in and how it’s been set up that we lose. People will remain debt slaves
Dont believe me read the book web of debt. Or confessions of an Economic Hitman.. creature of Jekyll island.
You’ll be shocked how you’ve been played
Instructions unclear, 300k in debt from this blender i just bought
This guy is amazing! Such great wisdom and advice at such a young age. I wish he were my son.
Hi Nate, what kind of phone are you using?
Instead of getting a current gen budget phone, you can also try getting a last generation high-end android phone, like an S9. Lots of carriers give you really good deals on those!
INTERESTING
Youre stupid if you get in debt. Even 1 penny debt — stupid
2019 got cheaper phones faster than iPhone 11… Don’t pay apple for the logo only
That’s what I say to everyone
” Im not a financial advisor “
This video looked great on my iPhone 11 Pro Max
I really like all your video,i love thematic this video 👍
techlead made the same video one day earlier.
Apple hates Nate. I don’t.
iPhone SE 400$, works perfectly after 4 years
the investment is what my Grandpa did. now he is 75 years old and has over 900k in savings.
I want a iPhone 11 pro will I am 8 and I have 20$
Actually you helped me a lot about finance even you don’t know who I am. Very very inspiring videos! Keep it up!
Brooo iPhone 5s gang
BUT the real cost to own a iPhone pro is $2.74 a day full year to own it.
$1000÷365days=$2.74
You can put that in your piggy bank every day buy the phone have it for a full year then sell it could drop price from 1000 that you paid to $800 use collect the $800 use it for the next iPhone use the $800 for down a payment. This only works for people that dont care about investing and just like to have the newest iPhone. And you won’t feel like spending alot!
One of the only videos on your channel that I don’t like. I have had only iPhones since January 2008. I don’t even get the newest one every time. I jumped from the 5s to the 8. I will NEVER have any other type of phone. An iPhone is so easy to use, and one thing no other cheap phone has is icloud. I can sync everything, so just in case the phone is stolen, I still don’t lose everything, and they are more secure than any other device. When it comes to money, some things are absolutely worth the cost, and an iPhone is definitely one of those items.
1:50 do these debts include the cost of buying a house ?
Owning the last iPhone is a status symbol I guess.
And Tim Cook told us that an iPhone just cost the price of a coffee a day at Starbucks 😂😂😂
One can get a good iPhone buying older models (or second hand) though.
5% of 2,000$ is 100$ a year… so in 40 years with a 5% growth rate it will only be 4,000$. Unless my math is wrong asf lol how did you get 14,079$??
Thank you for not yelling or being overly aggressive in your delivery. I find a lot of financial videos to be too abrasive to watch — the way many Youtuber’s speak gives me a feeling of being talked down to, so its easy to miss a lot of the important details because we are being belittled. You are one of the best! It feels like I’m learning from a college professor. Love it! Keep at it, Nate 🙂
Nate, at 21yrs old I can finally say I look up to someone. Thanks for all your knowledge man seriously 🤘🏾
Honestly just buy a decent phone when it’s on sale. Check Best Buy and Costco for deals. Invest in a good case (about $40) and it won’t break unless you drop it off a building, or run it over. Then use it for two years and if you ABSOLUTELY need a new one, get it. Premium phones are nice, and they can make your life efficient, but these days any phone from the last 3 years or so is insanely good, and new ones are just getting a little bit faster, or better; and not always worth it.
I feel like I’m the only one considering buying a flip phone when my current smartphone dies lol I just see no point in spending $1000 on a phone, that’s literally a cost of a new computer plus the plans are more expensive. And it’s all so you can use free social media apps on the go. It’s a scam! Lol
Which phone do you use
How much should I spend on a phone if I barely make $500 per month in Egypt?
Still going with the iPhone 6 Plus
Brilliant, thank you Nate.
It’s really easy to hate on expensive phones, but in my opinion are worth it, of course not everyone needs a iPhone but I value my new iphone because it allows me to capture important things with quality hardware and software. Let’s face it everyone pretty much stores there whole life on their phones now.
And buying physical cameras, and memory would probably be more expensive in the long run as well. Also most 1000$ phones can last for 4+ years.
I have revolving debt (pay off every month on my CC to get rewards), I have a decent emergency fund, have no auto debt and I pay $30 a month for car insurance, and I live in a cheap studio apartment. I value certain things so I went with a new iPhone.
Nate, a video on your travel cost would be appreciated. If costly, how do you rationalize it given that you could invest that money for future income (asset vs liability).
smart thoughts for such young man! i think if you don’t reuse paper presentation board it’s better to choose reusable not paper one
What Phone you have? iPhone XS Max or 11 pro Max?? Think about it!!
I have been useing a Samsung phone for 4 years….and it is working fine……
Great info .
OnePlus Phones are the best for quality/price. I got mine for $300 dollars by trade in my old phone 2 years ago (when oneplus phones came to united states for the first time). Same performance as iphone 10 with same screen quality.
im incomes domestic paychecks at the net from *one Biz Op p . C o m* , if you working tough People, you earn at the net, it’s no longer rocket science.
the best site I have seen on the internet guys
Sublime. So sick.
*homepay .me* is an impressive online employer will offer you experience checks With no worries !! they are so Humorous .
just saw it, it’s Rewardable
just Chummy
really? Unspoiled
I go to your channel when I have the urge of spending unnecessarily. Thanks Nate!
Though Nate is 100% right, the only problem is people don’t think about 40 years from today. Most people would wanna become a millionaire today, not in 40 years. Some friends even argue that we may not be alive tomorrow. So what is the meaning of long term thinking, we should be living day by day instead because of the uncertainty of death.
I got a set of Yokohama Avid Ascend GT on sale for $90 a piece for my 2005 TSX. They’re far more fun than a $1000 phone.
Iphone 11pro isnt a phone for everyone anyway. It is a luxury product. The rolls royce of phones..
I’m guilty doing this, I had a perfect iphone 8 plus for 2 years + and I went to purchase iphone 11 pro max after that. I wasted USD1k when everything works the same. I’m going to keep my phone for at least a 4 years for now. thanks for your video! from Singapore
2000$ = my 4 months salary 😅 hello from Vietnam!!! Definitely need watching videos like this. Thank you so much!
I buy used flagship phones from a few years ago
I trade forex, flip mopeds and work a full time job. A $100 phone doesn’t cut it for me due to battery life. Also i do spend a few hours per day on my phone doing these side hustles so i like have a nice phone. I usually get a $300-$400 iphone from a few earlier generations. Iphone 8s right now
Pick your favorite Android manufacturer and buy last year’s flagship for $400 and keep it for two years. If you’re an iPhone person, go two years back for the same price and you’ll still have 3 years of updates left (still more than even brand new Android phones).
$1000 is a lot of money to spend on a phone
Here in indonesia 15% return is quiet eassy in stock market, average return here is 20%
Nokia for 250
Inflation and cost of living is around 5% per year
I usually just go for a high quality refurbished phone with high storage. Usually about 70% off of original for a 2 year old phone that works great 🙂 great video Nate. I am minimalist in Japan
Me watching this a year too late on my iPhone 11 Pro Max, still love the phone tho
Wait a year and get it 50% off and you have a basically new, powerful phone for 4-5 years
Very good. Projecting ahead gives real insight to our spending…or rather not spending. Thanks.
I like how you say you can do this and that and you can subscribe to this channel, haha, very smooth 😀
My iPhone 6s was drained in rain and dead last year in October. The iPhone X (or 11? Don’t remember) was just/about to be out. But I still chose to buy a new iPhone 8 which was half of the price of the latest model. I just can’t persuade myself to splurge 1K on a cellphone. At that time most shops did not have iPhone 8 in stock anymore. The one I bought was the last one that shop had in their warehouse and the shipping took a couple of weeks. Nevertheless, I will probably buy the latest iPhone if my iPhone 8 dies. I do like the upgraded cameras of new iPhones. I don’t want to spend extra money on a real camera if I can have a phone with great front and back cameras 🙂
I buy Samsung phones priced around 250$ and Usually keep them for 3 years.
Showing this in my “remote” personal finance class today.
Excellent content for teens!
It’s better to buy a 1-2 year old phone
📱IPhone will be my net worth adding a public comments. We’re public we’ll choose what I will watch.
Is the high debt for middle aged people because of home mortgages?
Good video. The growth rates should consider inflation to paint a more accurate picture. But, you made an important point about opportunity cost. 🙂
I never understood why you “have to” have the newest phone. To show off? To who?