In this video, we will share eight financial decisions that many people may regret in the next 10 years. At times, it can be difficult to foresee the negative externalities of a current financial decision that you make today. It is my hope that you can take some of these mistakes into consideration when making decisions in regards to your financial future.
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I am not a financial advisor. The ideas presented in this video are personal opinions and for entertainment purposes only. You (and only you) are responsible for the financial decisions that you make.
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Financial stability or Financial Maturity … Thanks for sharing knowledge, tips and tricks with viewers.
How to move to the islands and find a job from no experience compared to lots of experience. Or how to work over sea’s with no experience and a small budget.
Nate O’Brien will you or have you made a video about your favorite books?
Benefit of Roth IRA vs HSA savings account and investing it. Which is better plan?
🐈
how to grow tall
Nate, let me be very honest here – every time I watch your videos, I feel like I should have been focused on my financial wellness in my 20’s. I am now picking up the pieces in my 30’s. I salute you, Sir! If anyone would like to support my channel with subscriptions, I would greatly appreciate it. At least, I have to stay positive, right? I post awesome videos about NYC three times a week. I will post a new video today at 7:30pm EST. Make sure to keep on the notification bell.
Awesome channel! Subscribed!
Can not say enough how important insurance is. My friends old housemate ended up in 70k of debt because he had 2 at fault car accidents in 6 months and had NO insurance (aside from ctp which is compulsory) and had to pay off 3 damaged cars.
thats because he spent the money he saved on insurance
Drinking too much Jim Beam
That’ll do it
Thanks Nate. Love all your videos. 🌻👍
Regretting not making Graham Stephan’s $0.20 iced coffee sooner in my life …
Investing Engineered just started today lmao
it is unhealthy – check the sugar content.
I see your comments everywhere
@Caz PK Mate I don’t think your $3 Starbucks coffee is much better haha
Hair looks much better
No regerts!
Investment Future Finances lol !
Thanks for being such a great help. Cutting out a lot of “entertainment” out of my life has helped out my art a lot.
I’m 28 and my biggest financial regret is going to university.
@Jorge Manzo Omg I never thought of it. Education must be so expensive in the US
Vhilicious Lyrics oh you’re not from the us.? Ahaha, where you from.? And yea it’s rising every year
@Jorge Manzo nahh, I am from Indonesia. Most people here funding their own education, some other with scholarships, but loan is rare here. Anyway the education isnt as expensive as in the US, pretty affordable honestly. Depends on the financial situation
Vhilicious Lyrics that’s interesting.. yea I’m some European countries tuition is as little as 3k a year and the credits transfer to the US!! Well I mean you’d have to pay for moving and all that but still ahaha
@Jorge Manzo well good to know. Thanks for replying 😊
I live in nj, like 10 mins to NYC, and the property taxes are stupid high
haha its funny, i have the same book, intelligent investor, talk about that if you want
Love the tips! I’m happy to say I’m watching this at age 20 instead of age 50!
Me at 15. Wow that motivates me
Polar Barb im 3
I’m still in my mothers womb, just preparing myself early on
Polar Finance 18
So many people will regret just not starting, not letting that compound interest build up.
Agreed.. But it isn’t just money that buys you happiness. I know truckloads of miserable rich people. Balance is the key!
About tax withholding, you might want to pay less for the first half of the year, and then increase it for the second half, so you are still even at the tax time, but get to get that money earlier to either reduce your debt or grow.
I absolutely love the soft lighting of all of your videos
Can we get a updated video on the best Roth IRA accounts and best investments within them
Can u give me fincinal advice ?
I have $140,000 stached away in my dad’s name.
If I get it in my name…I lose my medicade, that is $160 a month I will have to pay plus 20% Dr appts…so a GOOD $300 a month out of pocket (with meds) and I’m not sure what to invest in to make up for that $300 difference
I regret not paying off my student loan faster…I deferred or made minimum payments when I should have been side hustling and going super frugal…all that interest!
same.
Man, I’ll be going to college next year and I’m scared
@ItzBen21 I hope you are preparing now by saving money and picking major that will lead to a good career..and one you will enjoy..
Rich Dad, Poor Dad is a bad example of financial guidance. People better read some basic personal finance, budgeting, maybe basic economics
I regret not getting a vasectomy
I laughed way to hard at this.
OOOOOOOOOHHHHHHHHHHHHH
Man I needed that laugh!
On the tax part… you don’t want to do your CD strategy you must have at least 90% of your previous amount taxes paid or 100% of the current years taxes paid by the end of the year or you can get hit with a penalty. Basically the government is saying they want to earn interest off your taxes and not let you.
Hey Nate,
I’m an executive speaker coach and would love to do a free thirty minute session with you to help improve the quality of your content. I just want to see you thrive and get to the next level. Really enjoy your videos!
The taxes issue you mentioned hit home
What are your views on Whole vs Term Life Insurance?
I would love to know what mic you use.
I’m 28 and have already made innumerable financial mistakes. BUT! I have peace of mind. Live and learn. That’s my motto! 😃
How about buying a car based on monthly payments (most people regret that before they finish payments).
Also, I wouldn’t even list life insurance… be very careful with whole life insurance, most agents are looking for a profit when they try to sell you that junk
Why people hate wall street when they lose money when they happily lose on a Tesla or a BMW
tirthb I think if you want a nice car at 20 use public transport for 10 years, get a nice car at 30.Tbh all these people flexing nice cars or stacks of cash don’t realise their money could be improving their cash flow even more…
lump sum investing has been shown to outperform dollar cost averaging about 71% of the time.
jason moniz details pls
I’ve gotten 3 pay raises since January…$4 in total. Is that good?
Practice? We talkin’ about practice?
A true legend
Lol you told us 4 times that you are not an accountant/financial advisor. Why do you have to say that so often? Is it because in the US people can sue others over the smallest things and you want to avoid that?
Yes. People like to blame others for their own mistakes
I see too many friends who are Mortgage poor because of those reasons. I always buy undersized low tax homes and usually pay them off in less than 5 years. I wouldn’t be able to do that if I bought huge homes.
Michael Pollini how many do you have? Or do you sell before the next one?
Insurance* – only Health and Life Insurance. For car insurance, electronic insurance, unless you are deliberately going to destroy it, you should not buy insurance. It’s too expensive and if they’re broken, just buy them again. You can’t buy health and life though
You need car insurance to drive in America
Would very much like to know how do you manage and keep track of all the money from different sources that are coming in or going? I used to use an app called wallet to track my income and expense patterns. However, after taking my first engineering job, the income sources become scattered and keeping track of them became a hassle. But on the other hand, if I don’t track the money, I tend to overspend. How do you deal with that?
Redowan Nafi i use google sheets and put down all the expenses and income in there for each day. It becomes a habit now
I regret not going for what I really wanted from an education.
Hey, Finance major here. Life insurance is definitely a good idea! However, be careful of what type of life insurance you buy. Term life insurance only pays out less than 5% of the time (which is a good thing, kinda). Other life insurance can be very expensive, but can also have saving options which gives you a cash value at the end so you don’t lose money paying a term insurance.
Another option would be investing in something else (which is more risky, but risk = reward). Say you invested in something that produce a 7% interest rate (lower average of S&P 500 index). That would be enough to be even with the insurance policy except you get all the assets in the end, as well as, increasing the worth of your portfolio more than, say, a guaranteed 3% interest rate with a life insurance cash fund (in term insurance you most likely would receive nothing when your contract is up, hence ‘term’ insurance). So a young family may need life insurance, but after you have saved enough in another account there should be no reason to throw your money into that hole.
Side notes:
1: Buying life insurance depends on the individuals, situations, and market conditions to be able to succeed in avoiding having to pay for life insurance for long. Life insurance may be the best option for you. (Its like a forced safety net, good for most people).
2: My source is just from what I have learned. I am in college, I could be completely wrong… but I have a 3.83 GPA, have read multiple books on personal finance, invested in stocks, and consider myself decently educated.
3: This is just a recommendation. This is not for everyone. I just want people to think of their other options to maximize ROI and not to pay later down the road on investments you don’t need.
Use the extra time you have to 1. *Invest* *in* *your* *knowledge* 2. *Connect* *with* *others* *that* *are* *doing* *what* *you* *want* *to* *do* . 3. *MAKE* *IT* *HAPPEN* (keys to any successful business model). Cheers!
interesting perspectives
Investing only $50 seems a little pointless to me considering transaction fees. I’d recommend playing around with portfolio simulators instead (like Investopedia) which are free to use and full of great educational resources!
👍
You are correct about home ownership. I spend about $1000 per year on landscaping, $9000 per year on property tax, $400/month on utility costs, and several thousand dollars in repairs and maintenance.
$1000 for landscaping. I refuse to pay $30/month to have people cut my grass.
$9000 taxes is alot. Defintely a factor when buying a home.
$400 for Utilities not too bad. I try to shut off all unnecessarily lights and catch rain water for garden.
Maintenance. Im a diy for sure. Saved over $10 grand fixing my own stuff past 3 years.
The best investment you can make is in yourself
I love how knowledgeable you are and how helpful this is… but really… you are so young… can you really talk about these things? have you bought too much house or cashed out your 401K?
No and I never will 😉
I didn’t actually hear what he said, I was to occupied with his mesmerizing hand movements and gestures!
Hawaii is fuggtop 😆😆
#4 i learned that i wont beat the market. Don’t leverage your money don’t do options just buy some solid stock stick with it and you’ll see it slowly grow instead of trying to beat the market. I only lost $300 out of $1000 but it was a well learned lesson.
Biggest Regret: Not following my dream career at 21 and listening to my parents advice instead…had to wait 10years to do my own thing.
@Nik traveling around and help people is not serios plan, even more if you want to do it on your parents money. Go make your own money first at a 9-5 job, save and go travel
@Komplast Trading & Production SRL Oh ok yes that is a good strategy, this is what i planned on doing. I just meant that I cannot fall into the societal trap of working a 9-5 full time job for your whole life
I can definitely feel you there.
Same with me…
Only that it was at age 15-19.
Now I am almost 22 and I screwed up soo much. Too much. Pretty depressed too. Jobless, at least not broke (if you count out my spirit).
Feels shitty as hell, like I betrayed myself, because I didn’t believe in myself, listened to other people’s advices/ opinions instead of what I thought was right and my gut was telling me.
I am pathetic, even while I am complaining about it right now.
Everything that was important to me is far out of reach now (too far 🙁 ).
Can’t blaim anyone else but my self 😔😦😟.
Never listen to parent’s career advice. They (usually) mean well but they simply know nothing about today’s job market so their advice is completely outdated.
@Inspired by yeah they want kids that just got out of high school to go to a college that charges $6,200 a semester when they don’t even know what to do. . .
$200 dollars per 1 BTC that’s my regret
Yellow shirt… Unsubscribed😎
Watching tons of your videos at age 18. Trying to gain as much knowledge as possible to know what to do with my income
You will succeed!!
I wish I bought more halliburton and oil stocks after George Bush got elected
Hi Nate, this is a great video. Love your work! Refinancing your mortgage may not be the best way to go. It depends where you are on the loan amortization schedule. After the halfway point, the majority of your payment goes toward Principal which is building equity into your home. When you refinance, your amortization schedule restarts and you then start to pay mostly interest again. I would prefer putting more equity into my house so that I can get to not having a mortgage payment sooner and put more equity into the home. The second option is that if I plan to sell it in the future, I can continue to put equity into the home and lower my debt to income ratio so I retain more money during the sale. What do you think? Thanks!
How come you don’t model? I think you would make for a good male model
I’m not sure about that!! But thanks I’ll take your comment as a compliment
Community college is actual college lol… it’s literally in the name.
What’s the difference ? What are you referring to ?
I have a french background, I don’t know what you’re talking about, but I’d like to understand.
So many worthless higher degrees that just put you in a mountain in depth with only 50,000 salary coming out. Makes zero sense of me. Find a degree that has a good payout
Legends say his living room size closet is full of only long sleeves💀😂
Great advice. I made the mistake of buying too much house, not buying life insurance early and not saving enough in 401k and Roth IRA.
#1-8. Paying for college
You forgot the biggest one. Don’t get married
Brother Love 😂😂😂😂👍🏽
Good stuff!
Thank you
People should save money for an emergency fund, before saving for investments. Investors usually recommend having a 6-month or one-year fund of your spendings. In that case, you can put money in riskier investments and still have money for emergencies.
These millennials that are jumping on the dividend stocks and paying their bills with the dividend checks are gonna regret it when they can’t retire cause they never let their money compound
$6/month for Amazon Prime? I want that deal…I’m paying $12.99/month. Also, a quick tip on that topic: if cancelling your Amazon Prime or Netflix subscription is too extreme, but you know that you wanna take a break for a bit, you can also just freeze your account for a few months. If you don’t wanna quick cold turkey, but know you won’t have time to use their services for a few months, that could be a good option (and it will obviously stop the subscription charges during the allotted time).
You are so cute, but this substitute mortgage is not good in long term for anyone ,maybe monthly payment is less but in long term much more money for banks over the years, so that would be mistake number 11, at least in my country 🙁 which is shithole BiH
Thank you Nate
Watching all your videos as a 14 year old. I’m learning more here than I learn in school
5:32
About point one: I will probably never understand why people subscribe to Netflix. Firstly, you have to pay for it while most of the movies are uploaded on the web already and you can watch them online. Then you waste your time watching useless movies on a regular basis instead of doing something more productive with your time.
mad funny how you said allen iverson and practice in the same sentence
Most people will regret buying their dream car in ten years, the feeling of buying that new car might last a year but will fade quickly. Ask a question before buying, do I really need this, will I still like it in two years? Stop to think about what you are about to do.
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You will be killed for your life insurance. Donate your body and do not get life insurance, for your killer to enjoy life, until God deals bad karma back to them, and He will. Please videotape all insurance polices being written, and tape again, if the amount is increased. Never mix your money with a boyfriend etc., and always have your own daily limited withdrawals.
naw bruh get the biggest property you can afford it all comes back wen you sell
I’m only 12 but I thought I might learn this stuff sooner
I’m in first grade
Ultimate savings; never get married and never have kids.
Yes!
Dude that’s awesome, you’re setting yourself up for such a great life.
You are definitely financially more mature than many adults.
You keep on telling us not to buy cars but they are fighting back by placing car commercials over your videos 🤣
You look like an actor. Like Ashton Kutcher’s brother. 😲😃
It’s the smexy hair, :D.
Buy a house is complicated, you obviously want to stay on budget. However, you do not want to buy a fixer upper and then pay 30,000 to 300,000 dollars to fix everything inside of it and go into more debt.
Love your videos! You are wise beyond your years! Keep up the good work!
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1. Buy too much house (the bigger the more buck)
2. Tapping into your retirement funds (definitely will regret in 10 yrs time)
3. Foregoing further educational opportunities (not limited to university/college – books, videos…)
4. Skipping insurance (get it for your kids while healthy, life insurance may not be granted to people with chronic illnesses or other serious issues)
5. DIY Investing (Jumping into the stock market too fast)
6. Not refinancing your mortgage (depends on credit score, interest rate)
7. Not withholding enough taxes (from your paycheck) – consider having more withheld for more buck back at the end of the year
8. Too many subscriptions (cut cost where possible – lots of payments to subscriptions make no sense)
Thanks for these videos Nate!
This is so great I wish Nate would take the time to include this into the description
And, Thank you for the summary of the video
nice
So nice to see short simple videos. great content.
Woah had no idea property taxes in the US were so high
Live in Northern New Jersey… can confirm, we pay $11,760 in property taxes for a $300,000 home.
Very helpful
Excellent advice! You should always keep learning, no matter what your age. I’m trying to learn everything I can about finances because I’m determined to have financial freedom. What other financial books do you recommend?
Thank you for sharing !! My today’s take awake is about investing. I heard in an other of your video that it really worth when you play with bigger amounts but it’s true that it’s better to train with smaller amounts first. So I’m about to start investing just after I end to give back my debts. I feel motivated. I still can start to learn about investment right now. So I guess that my first investment will be in a book about investment 😎
Nate is so Philly when he thinks “basketball player,” AI comes to mind before MJ 😂 🏀
Hello is mike o’Brien your bro ? You guys have the same sound 😂
Whoa! You’re wearing a different AND bright top. Love your videos, Nate. Keep it up!
Love this channel. I usually listen at work while I’m working.
I don’t have any regrets because I cannot change anything about my past. I can only control the present and future and so that’s what I do. It’s never too late to get on track.
i clicked on this video bc you had a YELLOW shirt on, then it starts and you in your normal black fit
Very good hope u make some more similar videos.
gambling ! don’t gamble, esp when your young and working hard, save yur fkn $$ !!
what sort of numbers do you reccomend for people looking at buying a house when the average house price in my country and specifically the city i live in and most of our cities is somewhere between 700-800k and after tax income is usually less than 50k a year?
oh yeah and rent is about 500 a week depending on the area
Hi im 13 months old and im already watching your videos